Most ERC20 tokens can be used as the sale token in a Dutch Auction.
This framework is based on swapping ETH or ERC20 tokens in batches using a Dutch auction mechanism. To fully understand the documentation of the solution outlined, you must have a basic knowledge of what a ERC20 token is and how to use Ethereum
The most important step towards recognition was the possibility to create one’s own custom Dutch Swap token. That gave an opportunity to dozens of projects to see life thanks to additional flexibility of auctions. Now everyone can create their own token with a unique name and fully manage it.
To create your one follow the next steps:
- Visit the appropriative page on Dutch Swap
- Enter the reliable values of your token, such as name, symbol, and decimals
- Click the Mint button to create your custom token
Note that your Ropsten network address will be automatically fetched from your account.
- It starts with entering Token’s name - should be the unique value(such as Tether, Chainlink).
- Add a symbol for your token. It should be consist of about 3-5 uppercaseletters
After creating your special token, you will be able to use it directly in newly created auctions
Adding token to Metamask¶
You can take the new contract address and add it as a custom token in Metamask
Metamask cant keep track of all the new tokens on Ethereum and will need to be added mamually.