(1) Tokens

Disclaimer: here

Tokens are Fungibles on the Bones Protocol.

Deploying

Tokens are deployed via Dogecoin transactions with a protocol message. Each token has the following properties, set by the protocol message:

• Ticker/Symbol (unique)

• Owner

• Mint Terms (aka tokenomics)

Every token comes with its own liquidity pool, enabling seamless trading immediately after minting out.

The ticker of a token can be obtained before launching the corresponding token. It is attached to an inscription and can be transferred or traded on marketplaces. Tickers in different lengths can be registered by spending (burning) the base token, $BONE.

Minting

To mint a token, users must make a Dogecoin transaction and pay for the mint with a certain amount of $BONE.

The proceeds from the minting do not go to the creator but are instead added to the liquidity pool for the token. The Bones Protocol does not support ICOs or token sales because there are no pre-mines.

Trading

Thanks to the liquidity-pools, swapping tokens with other tokens is easy and works just like trading on Solana or Ethereum DEXs. In addition, marketplaces can offer trading tokens with the same experience as trading Dunes.

The First Token

The first token ($BONE) is hardcoded into the protocol indexer and has a special use case within the protocol: it acts as the Base Token for all liquidity pools.