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Joseph Peculiar
Joseph Peculiar

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Binance Chain Dev Series: Part II - Issuing BEP2 Token

Binance Chain development series
chapter 1:- Setting up a light Binance node
chapter 2:- Issuing a BEP2 token on Binance Chain
chapter 3:- Adding our BEP2 to Binance Dex and Interacting with it using the CLI
chapter 4:- Adding token to trust wallet
chapter 5:- Setting up a full Binance Chain node
chapter 6:- Using the Binance Chain SDK

In the previous chapter, we looked into setting up a light client on the Binance chain blockchain. In this chapter, we will issue a BEP2 token on Binance chain mainnet.

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BEP stands for " Binance Chain evolution proposal" and BEP2 tokens are assets on Binance chain which follow the BEP2 standard

Binance Chain at the time of writing does not support smart contracts as seen on the Ethereum blockchain, according to the Binance chain community this was an intentional design decision to improve the performance of the system and eliminate having to support unnecessary features.

for more here's an interesting thread

Let's get our hands dirty

There are 3 steps in this chapter:

1) Create a Wallet

2) Connect our wallet to our node using bnbcli

3) Issue our token

cd into the node-binary folder which we downloaded in the previous chapter

cd cli/{network}/{version}/{OS}
cd cli/prod/0.6.3/linux 

To create a wallet goto Binance Website or testnet for testnet

or we can generate one using the bnbcli

./bnbcli keys add binance-series

> Enter a passphrase for your key:
> Repeat the passphrase:

The binance-series above is used to specify the alias name of the wallet. you can change this to any name of your preference.

Now we can see our wallet

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Keep your Mnemonic and Keystore safe, once compromised you lose all assets in your wallet

To add an already existing wallet use the —recover

./bnbcli keys add binance-series --recover
> Enter a passphrase for your key
> Repeat the passphrase
> Enter your recovery seed phrase

To Issue a token on the Binance Chain we need to make sure our wallet has a minimum of 500BNB which is the fee collected for issuing a token, for more details on this click here

To issue our token "Binance Dev Series" ( BDS) with the supply of 1billion

./bnbcli token issue --token-name "Binance Dev Series" --total-supply 100000000000000000 --symbol BDS --mintable --from binance-series --chain-id Binance-Chain-Tigris --node []( --trust-node

We have issued our token 🎉🎉

—from binance-series:- from our alias wallet named binance-series

—mintable:- The token is mintable ( you can remove this if your token requirement dosen't need it).

Always add an 8 decimal after the supply you intend for your token

ERROR: No account with address was found in the state. Are you sure there has been a transaction involving it

if you're getting that error it means you don't have up-to 1BNB in your wallet

What's Next?

Next chapter we will be Adding our BDS token to the Binance Dex, stay tuned

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