Bitcoin

How to Create BRC-20 Token?

Do you want to create your own BRC-20 token and list it for sale? Here's how to do it.

create brc-20 token

Are you interested in creating your own BRC-20 token but unsure how to proceed? Don't worry! In this guide, we will walk you through the process of creating a BRC-20 token to make it easy for you.

A BRC-20 token is similar to an ERC-20 token, but it utilizes the Bitcoin blockchain network. BRC-20 tokens do not possess the functionality of smart contracts. The Ordinals protocol enables the creation of BRC-20 tokens.

Create BRC-20 Token

Step 1: Create UniSat Wallet

To create a UniSat Bitcoin wallet, follow this tutorial and create your wallet. Currently, the UniSat wallet is only available as a Chrome extension.

It is required to create a UniSat wallet in order to create a BRC-20 token with the help of UniSat.

Step 2: Add BTC to Your Wallet

Copy the UniSat wallet address and deposit an amount of Bitcoin more than $50 into your UniSat wallet.

Step 3: Connect Your Wallet

Visit the UniSat homepage. Click Connect.

Enter your wallet password, and click Unlock. Your wallet will automatically connect to UniSat.

Step 4: Create BRC-20 Token

Click Inscribe.

Inscribe means to record something, in this specific context, it refers to creating a token and recording it on the Bitcoin blockchain.

Click BRC-20.

Click Deploy.

Write ticker of token. Specify the supply of the BRC-20 token and the limit per mint. Then click Next.

The maximum character limit for the ticker is 4.

Confirm the text that displays the supply, ticker, and limit per mint. This text will be inscribed on the Bitcoin blockchain. Click Next.

Enter the Bitcoin address where you would like to deploy these BRC-20 tokens.

A wallet that creates BRC-20 tokens through deployment does not have authority over those tokens after their creation. However, on the blockchain, it can be confirmed that the tokens were created by that specific wallet.

Make sure to use either the UniSat wallet that you set up earlier or the Ordinals wallet.

Next, select the network fee and review the other fees associated with the deployment of BRC-20 token. Click Submit & Pay invoices.

Choose the payment method to pay the Bitcoin fee. You can choose between direct BTC deposit, pay with MixPay or pay with UniSat wallet.

Using MixPay, you can send Bitcoin on the Lightning Network, resulting in significantly reduced network fees.

In our case, we choose UniSat wallet. Click on Pay with UniSat wallet.

Confirm the transaction in UniSat wallet. Click Sign and Send.

You have the option to adjust the network fees both on the UniSat and in your wallet. It's important to note that when you choose very low fees, there is a chance that your transaction may not successfully go through.

Your tokens will be deployed in few moments. Click Close.

Step 4: Mint BRC-20 Token

Open your UniSat wallet now. Click BRC-20.

Click on token's box.

Click Mint. The Mint option may take a few moments to become available.

The token's page will open on UniSat. Click Mint Directly.

Now, You can select the amount you want to mint. However, please note that we have set a limit of 1 mint, meaning that we can only mint 1 THUD token with 1 Repeat Mint.

Mint refers to the process of obtaining tokens in a wallet.

When you increase the Repeat Mint to 5, you can mint 5 THUD tokens in this way:

Repeat mint means executing multiple mint processes within a single blockchain transaction.

For instance, in our case we are minting 1 THUD token, so select 1 Repeat Mint and amount 1. Click Next.

Click Next.

Enter your Bitcoin wallet address where you want to receive this 1 THUD token. Then, select the network fee and click on Submit & Pay invoice.

Choose the method to pay the fee. For instance, we select Pay with UniSat wallet.

Confirm the transaction in your wallet, then click on Sign & Send.

Now, in the wallet, you can see that you have 1 token that you recently minted.

Any token that is newly created and hasn't been fully minted can be minted by anyone by paying a service fee. The price of the BRC-20 token is determined afterward when someone lists it for sale.

During BRC-20 token creation by increasing the limit per mint, you can obtain all your tokens with very few or just one mint.

Bear in mind that when you mint 5 tokens (Amount) in one mint, these 5 tokens will be bundled together as a set of 5.

Secondly, when you mint 1 token (Amount) and choose Repeat Mint 5, you will have 5 token boxes in your wallet with number of 1 on them.

By increasing the number of repeat mints, the fees will also increase.

Step 5: Make BRC-20 Tokens Transferable

Open your UniSat wallet. Navigate to BRC-20. Click on token box.

You'll see the box of minted token.

The number shown in the box of minted tokens represents the total number of tokens in the bundle. These tokens can separate from the bundle when you enable the transfer on your tokens afterwards or when you sell them on marketplace.

For example, when you mint 5 tokens (Amount), the displayed number will be 5. And when you mint 5 tokens (Amount) using 5 Repeat Mints, you will see 5 boxes, each with the number 5 on them.

This is why we refer to it as an inscription, as the tokens prove their existence through writing, recorded as information on the Bitcoin blockchain.

Click Transfer.

Your tokens aren't transferable yet. You need to inscribe the transfer first, which means enabling the transfer. Next click Inscribe Transfer.

Specify the amount of tokens you want to enable for transfers, select the network fee and click Next. For instance, we currently have only 1 THUD token.

Click Pay & Inscribe.

Now, you have transferable token.

Click Transfer, select the transferable token you want to transfer, and click Next.

Enter the recipient's address and click Next.

Recipient's address should only Bitcoin wallet address (not exchange address). Its recommended to use either UniSat or Ordinals wallet.

Click Sign & Send.

Click Done.

For instance, we transferred 1 THUD token to our Ordinals wallet. In the wallet history of Ordinals wallet, you can see that the transaction is pending, and it should confirm soon (approximately 20 minutes).

Step 6: List BRC-20 Token for Sale

UniSat also has its marketplace, but this marketplace is available to very selected buyers. You can list your minted tokens for your desired price.

Final Reflections

You should now have a better understanding of how to create and mint your own BRC-20 tokens using the UniSat platform. Remember to consider the limitations and options available during the minting process, and make informed decisions regarding token transfers and listings.

Frequently Asked Questions

1. Who is behind Ordinals Protocol?

Casey is the founder of Ordinals protocol. We were unable to find any additional information about the team. This the github and official website of the Ordinals. You can join the official discord to interact with Ordinals community.

2. Who introduced the concept of BRC-20 tokens?

Domo introduced the concept of BRC-2o tokens, first time on twitter. Here is the official website of Domo where he shares the developments on his projects.

3. Can I sell or transfer tokens separately when they were minted in a single mint?

Yes, tokens minted together in a single minting process will be bundled as a set. However, you can separate them when you choose to enable transfers or list them for sale.

4. Is the Ordinals protocol open-source?

Yes, the Ordinals protocol is open-source. You can access the Ordinals protocol's GitHub repository and explore the source code and documentation related to the protocol's implementation.

5. Can I use any Bitcoin wallet to deposit funds into my UniSat wallet?

Yes, you can use any Bitcoin wallet to deposit funds into your UniSat wallet. Simply copy the UniSat wallet address and initiate a Bitcoin transfer from your chosen wallet.