Token Factory Tutorial

The tokenfactory module allows any account to create new tokens with a unique identifier based on the creator's address. Each account can generate multiple tokens by specifying distinct denominations (denoms). The token creator is granted "admin" privileges, enabling them to mint, burn, and transfer their token.

The "address" of these tokens is in the format:
factory/{CREATOR_ADDRESS}/{DENOM}
and come with a host of native functionalities.

Requirements

Before you begin, ensure you have the following:

The seid CLI installed.
A wallet with SEI tokens on testnet.

You can obtain testnet tokens from the faucet available in our Telegram Tech Chat by typing /faucet followed by your hex address (e.g., /faucet 0x...).

Creating a Denom

seid tx tokenfactory create-denom \$DENOM --from=\$ACCOUNT --chain-id=atlantic-2 --node=https://rpc-testnet.sei-apis.com --broadcast-mode=block --fees=20000usei

This command creates a new coin with the format factory/{ACCOUNT}/{DENOM}. Replace $DENOM with your desired denom name and $ACCOUNT with your account name. The account specified here will be the token admin.

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For a smoother experience, set your variables in the terminal. For example:

DENOM=giga
ACCOUNT=your_account_name

Replace your_account_name with your actual account name. You can then reference $DENOM and $ACCOUNT throughout this guide.

Updating Token Metadata

When creating a token, it's important to specify details regarding the denom amounts and aliases so your token can be correctly parsed on wallets and explorers.

1. Create Token Metadata file

Create a token metadata json file with the following content:

{
  "name": "Giga",
  "description": "A token created using the Token Factory module.",
  "symbol": "GIGA",
  "denom_units": [
    {
      "denom": "factory/sei1ep3f207kt7julz9tjwxp2x8kluj0y9l6u0fume/giga",
      "exponent": 0,
      "aliases": ["ugiga"]
    },
    {
      "denom": "GIGA",
      "exponent": 18,
      "aliases": ["Giga"]
    }
  ],
  "base": "factory/sei1ep3f207kt7julz9tjwxp2x8kluj0y9l6u0fume/giga",
  "display": "GIGA"
}

The base field denotes the smallest denom that this token can be represented in. The "GIGA" denom with 18 decimals will be used as the display denomination.

2. Set token metadata using seid

seid tx tokenfactory set-denom-metadata \$METADATA_FILE --fees 20000usei -b block -y --from \$ADDR

Replace $METADATA_FILE with the path to your metadata file created in step 1, and $ADDR with the address of the token admin.

Minting Tokens

seid tx tokenfactory mint 1000000000000000000000000000factory/\${ACCOUNT}/\${DENOM} --from=\$ACCOUNT --chain-id=atlantic-2 --node=https://rpc-testnet.sei-apis.com --broadcast-mode=block --fees=20000usei

This command will create (mint) 1 billion tokens of your new denom. The amount is specified in the smallest denomination, which is factory/{ACCOUNT}/{DENOM}.

To verify that the tokens have been minted, query the balance of your account:

seid query bank balances \$ACCOUNT --chain-id=atlantic-2 --node=https://rpc-testnet.sei-apis.com

Burning Tokens

Burning tokens decreases the total supply. To burn tokens, run:

seid tx tokenfactory burn \$AMOUNT --from=\$ACCOUNT --chain-id=atlantic-2 --node=https://rpc-testnet.sei-apis.com --broadcast-mode=block --fees=20000usei

$AMOUNT: Replace with the amount you wish to burn, specified in the smallest denomination.

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For example, to burn 100 tokens, set: bash AMOUNT=100factory/\${ACCOUNT}/\${DENOM} Only the token admin can perform minting and burning. To reassign these privileges, use the change-admin command.

Creating a Pointer Contract

To enable seamless integration with EVM environments, you can create a pointer contract. This process generates an ERC20 token that mirrors your TokenFactory token.

seid tx evm register-evm-pointer NATIVE factory/\${ACCOUNT}/\${DENOM} --from=\$ACCOUNT --fees=20000usei --evm-rpc=https://evm-rpc.arctic-1.seinetwork.io/

Parameters:

DENOM: The token denomination. This should match the TokenFactory token you created.

Flags:

--from: The Sei address sending the transaction (must have enough balance for fees).
--evm-rpc: The endpoint URL for the Sei blockchain's EVM RPC interface.

After executing, query the pointer contract address with:

seid q evm pointer NATIVE factory/\${ACCOUNT}/\${DENOM} --node=https://rpc-testnet.sei-apis.com

You should see an output similar to:

exists: true
pointer: 0xPointerContractAddress
version: 1

This pointer contract allows EVM wallets and applications to interact directly with your TokenFactory token.

Learn more about EVM interoperability and pointer contracts here.

Next Steps

🎉 Congratulations on completing the Token Factory tutorial! You've learned how to:

Create a new token denom.
Update token metadata.
Mint and burn tokens.
Create a pointer contract for EVM integration.

For complete technical details, refer to the Token Factory module (opens in a new tab) on github.

NFT Contracts Allowlists