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---
html: authorized-minter.html
parent: nft-mkt-overview.html
seo:
description: Minting and selling NFTs for another account.
labels:
- Tokenization
---
# Authorized Minter
_As an authorized minter, I want to mint tokens for a token issuer at an agreed upon rate and sell the tokens at a profit, with royalties returning to the issuer._
You can act as an authorized minter for token issuers. When you do this, you own the NFToken, but royalties flow to the NFToken issuer. When you make a sale of that NFToken, the proceeds of the initial sale go to you. You can have an agreement with your issuer to pay them some or all of your portion of the initial sale amount.
You can learn more in the tutorial [Assign an Authorized Minter](../../tutorials/quickstart/assign-an-authorized-minter-using-javascript.md).
[![Authorized Minter Flow](/img/nft-mkt-auth-minter.png "Authorized Minter Flow")](/img/nft-mkt-auth-minter.png)
## Set up a rippled instance
If you want to set up a larger site with high volume, it might be worth investing in your own XRP Ledger server instance. See [Install rippled](../../infrastructure/installation/index.md).
## Set up your marketplace
Rather than designing NFTs yourself, you coordinate with an NFT creator to become an authorized minter and generate NFTs on their behalf. This allows the creator to focus on making new NFTs while you handle production and sales of the NFTs. See [Authorized Minter](../../concepts/tokens/nfts/authorizing-another-minter.md).
Once you finish creating NFTs, the creator can revoke your privileges and reassert control over the NFTs. You might also transfer the tokens to a marketplace that will handle sales of the NFTs. You can act as a broker to match sell offers to buy offers. See [Running an NFT auction](../../concepts/tokens/nfts/running-an-nft-auction.md).
![Auctioning NFTs](/img/uc-nft-transferring-nfts.png)
To mint your first NFTs on behalf of another account, see [Authorizing Another Account to Mint Your NFTs](../../tutorials/quickstart/assign-an-authorized-minter-using-javascript.md).
If you, as the owner or issuer, want to be able to burn the token in the future, set the `Flags` field to _1._ To make the NFT transferable, set the `Flags` field to _8_. Set the `Flags` field to _9_ to make the NFT both burnable and transferable. See[ Burnable flag](../../references/protocol/data-types/nftoken.md#nftoken-flags) and [Transferable flag](../../references/protocol/data-types/nftoken.md#nftoken-flags).
![Burning NFTs](/img/uc-nft-burn.png)
You can arrange for the creator to receive royalties from future sales by setting a <code>transfer fee<em>. </em></code>This is a value from 0-50000 representing 0-50% of the sale price. See [Transfer Fee](../../references/protocol/data-types/nftoken.md#transferfee).
The NFToken URL is a link to the location where the content of the NFT is stored. One option is create an IPFS account and store the NFToken content at a persistent URL. See [Best Practices for Storing NFT Data](https://docs.ipfs.io/how-to/best-practices-for-nft-data).
Considerations that might be most interesting to you:
* [Minting NFTs into Collections](../../concepts/tokens/nfts/collections.md)
Use the TokenTaxon field to gather a set of NFTs centered around a specific theme or purpose.
* [Guaranteeing a Fixed Supply of NFTs](../../concepts/tokens/nfts/guaranteeing-a-fixed-supply.md)
You can assure scarcity of NFTs you create by creating them with what might be characterized as a “burner” account that you use to mint a set number of NFTs for another account, then delete the account you used to mint the NFTs. See [Guaranteeing a Fixed Supply of NFTs](../../concepts/tokens/nfts/guaranteeing-a-fixed-supply.md).
## Transferring NFTs
You transfer NFTs by creating a sell offer or accepting a buy offer. See [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
You can sell your NFTs in an auction format. See [Running an NFT Auction](../../concepts/tokens/nfts/running-an-nft-auction.md).
You can act as a broker, connecting sellers with bidders, completing the transfer and keeping a percentage of the purchase price. See [Broker a NFToken sale](../../tutorials/quickstart/broker-an-nft-sale-using-javascript.md).
### Reserve requirements
There are several XRP reserve requirements when you mint NFTs for sale. Each NFToken page requires a reserve of 2 XRP. A NFToken page can store 16-32 NFTs.
![Reserves](/img/uc-nft-reserves.png)
Each `NFTokenOffer` object requires a reserve of 2 XRP.
When you post the `NFTokenOffer` or sell the NFT, there are trivial transfer fees (roughly 6000 drops, or .006 XRP). When you are selling at a high volume, the trivial amounts can add up quickly, and need to be considered as part of your cost of doing business.
See:
1. [NFTokenOffer](../../concepts/tokens/nfts/reserve-requirements.md#nftokenoffer-reserve)
2. NFToken page ([Owner reserve](../../concepts/tokens/nfts/reserve-requirements.md#owner-reserve))
3. Trivial [transfer fees](../../concepts/tokens/transfer-fees.md)
### Checkout
The most straightforward payment for XRPL NFTs is XRP. For examples of selling and buying NFTs using XRP, see [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
![Checkout](/img/uc-nft-checkout.png)
For trade in other currencies, you can leverage the DEX to accept and convert issued currencies of all kinds. See [Trade in the Decentralized Exchange](../../tutorials/use-tokens/trade-in-the-decentralized-exchange.md#trade-in-the-decentralized-exchange).
## Indexing NFTs
When listing NFTs for sale, it can be useful to use object metadata to organize them. You can use queries in the XRPL libraries, the Clio server, and extensions in the XRPL API and Bithomp libraries to sort and filter NFTs by creator, price, collection, rarity, and more.
![Indexing NFTs](/img/uc-nft-indexing.png)
See:
- [Clio setup](../../infrastructure/installation/install-clio-on-ubuntu.md)
- [XRPL Data API](https://api.xrpldata.com/docs/static/index.html#/)
- [Bithomp](https://docs.bithomp.com/#nft-xls-20)
<!--
[Clio setup](../../infrastructure/installation/install-clio-on-ubuntu.md)
[https://api.xrpldata.com/docs/static/index.html#/](https://api.xrpldata.com/docs/static/index.html#/)
[https://docs.bithomp.com/#nft-xls-20](https://docs.bithomp.com/#nft-xls-20)
Sorting and filtering [No link]
Creator - nft_info (issuer field)
Price - nft_sell_offer->offers->amount field)
Popularity - ?
Newly listed
Collection - nft_info (token taxon field)
XRP vs $ vs IOUs
Search [No link]
Featured NFTs [No link]
Supplement Information [No link]
Rarity
Floor price
History
Number of owners
Price History
-->

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---
html: digital-artist.html
parent: nft-mkt-overview.html
seo:
description: Creating an NFT Marketplace for buying and selling NFTs.
labels:
- Tokenization
---
# Digital Artist
_As a Digital Artist, I want to use the XRPL to create a NFToken of my work and sell it on the XRPL, because the XRPL is both cost efficient and carbon neutral._
---
When you create a NFToken, you create a unique token on the XRPL that is effectively a placeholder for an actual physical or digital asset. When you create the NFToken, you provide a URL to a digital file that is the item itself, such as a digital artwork, or a URL to a placeholder that represents an item in the physical world.
As a digital artist, you’re focused on creating NFTs, presumably to sell on the XRP Ledger (it’s also possible you might create NFTs as a way of establishing provenance for your creations).
You can create NFTokens using an app such as the [Xumm app](https://xumm.app).
For a more hands-on experience, you can follow the steps in the [Quickstart Tutorial 3 - Mint and Burn NFTokens](../../tutorials/quickstart/mint-and-burn-nfts-using-javascript.md).
[![Digital Artist Flow](/img/nft-mkt-digital-artist.png "Digital Artist Flow")](/img/nft-mkt-digital-artist.png)
## Use a public server
As you get started, you will likely have comparatively few transactions. You can work with one of the free XRP Ledger public servers. As your business grows, you might consider your own NFT Ledger instance to handle increased sales traffic. See [Public servers](../../tutorials/get-started/public-servers.md).
## Create NFTs
Build your marketplace by minting NFTs to sell.
To create your first NFTs, follow the instructions in the tutorial _Mint and Burn NFTokens_. Keep the following in mind as you create your NFTs:
* You can collect royalties from future sales by setting a <code>transfer fee<em>. </em></code>This is a value from 0-50000 representing 0-50% of the sale price. See [Transfer Fee](../../references/protocol/data-types/nftoken.md#transferfee).
* The NFToken URL is a link to the location where the content of the NFT is stored. One option is create an IPFS account and store the NFToken content at a persistent URL. See [Best Practices for Storing NFT Data](https://docs.ipfs.io/how-to/best-practices-for-nft-data). [Add link to blog post about alternative NFT cache options.]
* You can mint NFTs in logical collections using the <code>TokenTaxon</code> field. See [Minting NFTs into Collections](../../concepts/tokens/nfts/collections.md).
* If you, as the issuer, want to be able to burn the token in the future, set the <code>Flags</code> field to <em>1.</em> To make the NFT transferable, set the <code>Flags</code> field to <em>8</em>. Set the <code>Flags</code> field to <em>9</em> to make the NFT both burnable and transferable. See[ Burnable flag](../../references/protocol/data-types/nftoken.md#nftoken-flags) and [Transferable flag](../../references/protocol/data-types/nftoken.md#nftoken-flags).
See [Mint and Burn NFTokens](../../tutorials/quickstart/mint-and-burn-nfts-using-javascript.md).
## Sell NFTs
You transfer NFTs by creating a sell offer. See [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
![Transferring NFTs](/img/uc-nft-transferring-nfts.png)
You can sell your NFTs in an auction format. See [Running an NFT Auction](../../concepts/tokens/nfts/running-an-nft-auction.md).
### Reserve requirements
There are several XRP reserve requirements when you mint NFTs for sale. Each NFToken page requires a reserve of 2 XRP. A NFToken page can store 16-32 NFTs.
Each `NFTokenOffer` object requires a reserve of 2 XRP.
![Reserves](/img/uc-nft-reserves.png)
When you post the `NFTokenOffer` or sell the NFT, there are trivial transfer fees (roughly 6000 drops, or .006 XRP). When you are selling at a high volume, the trivial amounts can add up quickly, and need to be considered as part of your cost of doing business.
See:
1. [NFTokenOffer](../../concepts/tokens/nfts/reserve-requirements.md#nftokenoffer-reserve)
2. NFToken page ([Owner reserve](../../concepts/tokens/nfts/reserve-requirements.md#owner-reserve))
3. Trivial [transfer fees](../../concepts/tokens/transfer-fees.md)
### Checkout
The most straightforward payment for XRPL NFTs is XRP. For examples of selling and buying NFTs using XRP, see [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
![Checkout](/img/uc-nft-checkout.png)
For trade in other currencies, you can leverage the DEX to accept and convert issued currencies of all kinds. See [Trade in the Decentralized Exchange](../../tutorials/use-tokens/trade-in-the-decentralized-exchange.md#trade-in-the-decentralized-exchange).
## Indexing NFTs
When listing NFTs for sale, it can be useful to use object metadata to organize them. You can use queries in the XRPL libraries, the Clio server, and extensions in the XRPL API and Bithomp libraries to sort and filter NFTs by creator, price, collection, rarity, and more.
![Indexing NFTs](/img/uc-nft-indexing.png)
See:
- [Clio setup](../../infrastructure/installation/install-clio-on-ubuntu.md)
- [XRPL Data API](https://api.xrpldata.com/docs/static/index.html#/)
- [Bithomp](https://docs.bithomp.com/#nft-xls-20)
## Burning NFTs
There are some workflows where it makes sense for the issuer to retain the right to burn the token at some point in the future, regardless of the current owner. For example, NFTs used for carbon credits can be minted and traded, but once the carbon is captured, the NFT can be burned so that it is no longer transferable. For these scenarios, set the `lsfBurnable` flag when you mint the NFT.
![Burning NFTs](/img/uc-nft-burn.png)
Another example might be burning an in-game asset that is lost by a player after losing a life in the game. You might also burn an NFT ticket after successful redemption to prevent it from being used again.

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---
html: tokenization.html
parent: use-cases.html
top_nav_grouping: Article Types
metadata:
indexPage: true
seo:
description: Work with a variety of tokens supported by the XRP Ledger.
---
# Tokenization
Work with a variety of tokens supported by the XRP Ledger.
{% child-pages /%}

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---
html: nft-mkt-overview.html
parent: tokenization.html
seo:
description: Overview of NFT Marketplace use cases.
labels:
- Tokenization
---
# NFT Marketplace Overview
## Key Features
XRPL native support for NFTs provides tools that let you do the following.
- Mint, sell, and burn NFTs
- Kick start an NFT project in little time at low expense
- Assign a broker to arrange transfers between sellers and bidders
- Authorize another account to mint NFTs for you
- Receive creator-friendly, on-ledger royalties that are honored by marketplaces
All this on top of the XRP Ledger’s greater than 10 years of performance and reliability.
## Understand Your Goals
Start by deciding what sort of marketplace you want to create.
- Marketplace, selling NFTs minted by others
- Authorized minter, minting NFTs for artists
- Digital artist, creating and selling your own NFTs
There are 4 essential areas of preparation for starting your NFT business.
1. Deciding how you will connect to the network
2. Setting up your blockchain behavior
3. Indexing required NFT information
4. Determining your permanent storage strategy to cache your NFTs
[![NFT Marketplace Flow](/img/nft-mkt-overview.png "NFT Marketplace Flow")](/img/nft-mkt-overview.png)
## Connect to XRPL
If you want to set up a smaller site with fewer transactions, you can work with one of the free XRP Ledger public servers. See [Public servers](../../tutorials/get-started/public-servers.md).
If you want to set up a larger site with high volume, it might be worth investing in your own XRP Ledger server instance. See [Install rippled](../../infrastructure/installation/index.md).
See also:
* [Pros and cons of running your own server](../../concepts/networks-and-servers/index.md#reasons-to-run-your-own-server).
## Set Up Basic Blockchain Functions
You can begin to build your marketplace by minting some NFTs to sell.
To create your first NFTs, follow the instructions in the tutorial _Mint and Burn NFTokens_. See [Mint and Burn NFTokens](../../tutorials/quickstart/mint-and-burn-nfts-using-javascript.md).
The NFToken URL is a link to the location where the content of the NFT is stored. One option is create an IPFS account and store the NFToken content at a persistent URL. See [Best Practices for Storing NFT Data](https://docs.ipfs.io/how-to/best-practices-for-nft-data).
If you, as the issuer, want to be able to burn the token in the future, set the `Flags` field to _1._ To make the NFT transferable, set the `Flags` field to _8_. Set the `Flags` field to _9_ to make the NFT both burnable and transferable. See [Burnable flag](../../references/protocol/data-types/nftoken.md) and [Transferable flag](../../references/protocol/data-types/nftoken.md).
![Burning a token](/img/uc-nft-burn.png)
You can collect royalties from future sales by setting a <code>transfer fee<em>. </em></code>This is a value from 0-50000 representing 0-50% of the sale price. See [Transfer Fee](../../references/protocol/data-types/nftoken.md#transferfee).
You can mint NFTs in logical collections using the `TokenTaxon` field. See [Minting NFTs into Collections](../../concepts/tokens/nfts/collections.md).
You can mint your own NFTs with content you create yourself, but you can also become an authorized minter to generate NFTs on behalf of another creator. This allows the creator to focus on making new NFTs while you handle production and sales of the NFTs.
Once the authorized minter has finished creating NFTs for you, you can revoke their privileges so that they no longer have any control over your NFTs.
See [Authorized Minter](../../concepts/tokens/nfts/authorizing-another-minter.md).
Minted NFTs are listed on a `NFTokenPage`. There is a reserve requirement of 2 XRP for every `NFTokenPage` on your account. See [NFT Reserve Requirements](../../concepts/tokens/nfts/reserve-requirements.md).
Each `NFTokenPage` holds 16-32 NFTs. Minting a large number of NFTs can tie up a great deal of your XRP. You can keep your XRP liquid by minting on demand (or _lazy minting_). For details of different approaches, see [Batch minting](../../concepts/tokens/nfts/batch-minting.md).
### Setting up a wallet
Set up a new wallet. See [Xumm](https://xumm.app/).
When you set up your account, keep in mind that there is a base reserve requirement of 10 XRP. See [Reserves](../../concepts/accounts/reserves.md#base-reserve-and-owner-reserve).
### Transferring NFTs
You transfer NFTs by creating a sell offer or accepting a buy offer. See [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
![Transferring NFTs](/img/uc-nft-transferring-nfts.png)
You can sell your NFTs in an auction format. See [Running an NFT Auction](../../concepts/tokens/nfts/running-an-nft-auction.md).
You can act as a broker, connecting sellers with bidders, completing the transfer and keeping a percentage of the purchase price. See [Broker a NFToken sale](../../tutorials/quickstart/broker-an-nft-sale-using-javascript.md).
#### Reserve requirements
There are several XRP reserve requirements when you mint NFTs for sale. Each NFToken page requires a reserve of 2 XRP. A NFToken page can store 16-32 NFTs.
Each `NFTokenOffer` object requires a reserve of 2 XRP.
![Reserves](/img/uc-nft-reserves.png)
When you post the `NFTokenOffer` or sell the NFT, there are trivial transfer fees (roughly 6000 drops, or .006 XRP). When you are selling at a high volume, the trivial amounts can add up quickly, and need to be considered as part of your cost of doing business.
See:
1. [NFTokenOffer](../../concepts/tokens/nfts/reserve-requirements.md#nftokenoffer-reserve)
2. NFToken page ([Owner reserve](../../concepts/tokens/nfts/reserve-requirements.md#owner-reserve))
3. Trivial [transfer fees](../../concepts/tokens/transfer-fees.md)
#### Checkout
The most straightforward payment for XRPL NFTs is XRP. For examples of selling and buying NFTs using XRP, see [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
![Checkout](/img/uc-nft-checkout.png)
For trade in other currencies, you can leverage the DEX to accept and convert issued currencies of all kinds. See [Trade in the Decentralized Exchange](../../tutorials/use-tokens/trade-in-the-decentralized-exchange.md#trade-in-the-decentralized-exchange).
<!--
- Fiat payment ([Cross-currency payments](cross-currency-payments.html))
- On-chain validation of completing transactions [No link- isn’t this just a cross-currency payment?] (Query after the transaction is completed.]
-->
## Indexing NFTs
When listing NFTs for sale, it can be useful to use object metadata to organize them.
![Indexing NFTs](/img/uc-nft-indexing.png)
You can use queries in the XRPL libraries, the Clio server, and extensions in the XRPL API and Bithomp libraries to sort and filter NFTs by creator, price, collection, rarity, and more.
See:
- [Clio setup](../../infrastructure/installation/install-clio-on-ubuntu.md)
- [XRPL Data API](https://api.xrpldata.com/docs/static/index.html#/)
- [Bithomp](https://docs.bithomp.com/#nft-xls-20)
<!--
Sorting and filtering [No link]
Creator - nft_info (issuer field)
Price - nft_sell_offer->offers->amount field)
Popularity - ?
Newly listed
Collection - nft_info (token taxon field)
XRP vs $ vs IOUs
Search [No link]
Featured NFTs [No link]
Supplement Information [No link]
Rarity
Floor price
History
Number of owners
Price History
-->
## NFT Caching
<!--
Image optimization for web experience [No link]
-->
NFTs that are created in the crypto space are expected to store metadata, including media, attributes, and so on. Currently most are stored on IPFS or Arweave to avoid centralization.
<!-- We can't use this example.
See [HERE](https://xrp.cafe/nft/00081770CCE71D9E7BD07E3A771C7619DA982D62CD37325A99B664A500000209)) -->
Although IPFS / Arweave are great solutions to promote decentralization, fetching the metadata efficiently is a problem. Reaching IPFS / Arweave directly to fetch metadata is not fast enough for modern websites that require immediate responses from users that are scrolling through multiple pages of NFTs with high-quality media. Many NFT marketplaces on XRPL today are storing cached versions of the IPFS originals to have fast and reliable responsive websites, but this process is expensive and inefficient.
Cloudflare, Infura, and many other providers are increasingly focusing on storing these decentralized files and retrieving them fast for users.
See [NFT Caching](../../references/protocol/data-types/nftoken.md#retrieving-nftoken-data-and-metadata).
<!--
You can also consider a solution such as Pinata. [https://drive.google.com/file/d/14wuulkvjVjtGlUJj0ppaJ4Sziyp5WFGA/view?usp=sharing](https://drive.google.com/file/d/14wuulkvjVjtGlUJj0ppaJ4Sziyp5WFGA/view?usp=sharing)
We can derive inspiration for the need of caching and point to some of their docs
[https://docs.pinata.cloud/gateways](https://docs.pinata.cloud/gateways)
-->

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---
html: nftoken-marketplace.html
parent: nft-mkt-overview.html
seo:
description: Creating an NFT Marketplace for buying and selling NFTs.
labels:
- Tokenization
---
# NFT Marketplace
_In my NFToken Marketplace, I want to use the XRPL to create a web presence where I can arrange transfer of a curated selection of NFTokens to consumers, with the benefit that I can build a brand and earn broker fees based on sales._
---
NFToken Marketplaces act as intermediaries between NFToken creators and collectors. As a marketplace curator, you seek out NFToken creators and assemble a collection of items to sell. Buyers come to your site to review your selections and post offers. You match the minimum prices set by the creators with the optimal offers from the buyers, complete the transaction, and collect a broker fee.
## Creating an NFT Marketplace
[![NFT Marketplace Flow](/img/nft-mkt-marketplace.png "NFT Marketplace Flow")](/img/nft-mkt-marketplace.png)
## Set up a rippled instance
When you set up a serious marketplace site with high volume, it justifies the decision to set up your own XRP Ledger server instance. See [Install rippled](../../infrastructure/installation/index.md).
### Setting up a wallet
Set up a new wallet. See [Xumm](https://xumm.app/).
Base reserve requirements See [Reserves](../../concepts/accounts/reserves.md#base-reserve-and-owner-reserve).
### Transferring NFTs
You transfer NFTs by creating a sell offer or accepting a buy offer. See [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
![Transferring NFTs](/img/uc-nft-transferring-nfts.png)
You can sell your NFTs in an auction format. See [Running an NFT Auction](../../concepts/tokens/nfts/running-an-nft-auction.md).
You can act as a broker, connecting sellers with bidders, completing the transfer and keeping a percentage of the purchase price. See [Broker a NFToken sale](../../tutorials/quickstart/broker-an-nft-sale-using-javascript.md).
### Reserve requirements
There are several XRP reserve requirements when you mint NFTs for sale. Each NFToken page requires a reserve of 2 XRP. A NFToken page can store 16-32 NFTs.
![Reserves](/img/uc-nft-reserves.png)
Each `NFTokenOffer` object requires a reserve of 2 XRP.
When you post the `NFTokenOffer` or sell the NFT, there are trivial transfer fees (roughly 6000 drops, or .006 XRP). When you are selling at a high volume, the trivial amounts can add up quickly, and need to be considered as part of your cost of doing business.
See:
1. [NFTokenOffer](../../concepts/tokens/nfts/reserve-requirements.md#nftokenoffer-reserve)
2. NFToken page ([Owner reserve](../../concepts/tokens/nfts/reserve-requirements.md#owner-reserve))
3. Trivial [transfer fees](../../concepts/tokens/transfer-fees.md)
You can learn more about brokered sales in the topic [Trading Tokens on the XRP Ledger](../../concepts/tokens/nfts/trading.md).
Learn more about token transfer fees in the topic [Transfer Fees](../../concepts/tokens/transfer-fees.md).
You can get started building a brokered sales marketplace by following the steps in the [Broker a NFToken Sale](../../tutorials/quickstart/broker-an-nft-sale-using-javascript.md).
### Checkout
The most straightforward payment for XRPL NFTs is XRP. For examples of selling and buying NFTs using XRP, see [Transfer NFTokens](../../tutorials/quickstart/transfer-nfts-using-javascript.md).
![Checkout](/img/uc-nft-checkout.png)
For trade in other currencies, you can leverage the DEX to accept and convert issued currencies of all kinds. See [Trade in the Decentralized Exchange](../../tutorials/use-tokens/trade-in-the-decentralized-exchange.md#trade-in-the-decentralized-exchange).
## Indexing NFTs
When listing NFTs for sale, it can be useful to use object metadata to organize them. You can use queries in the XRPL libraries, the Clio server, and extensions in the XRPL API and Bithomp libraries to sort and filter NFTs by creator, price, collection, rarity, and more.
![Indexing NFTs](/img/uc-nft-indexing.png)
See:
- [Clio setup](../../infrastructure/installation/install-clio-on-ubuntu.md)
- [XRPL Data API](https://api.xrpldata.com/docs/static/index.html#/)
- [Bithomp](https://docs.bithomp.com/#nft-xls-20)
<!--
Sorting and filtering [No link]
Creator - nft_info (issuer field)
Price - nft_sell_offer->offers->amount field)
Popularity - ?
Newly listed
Collection - nft_info (token taxon field)
XRP vs $ vs IOUs
Search [No link]
Featured NFTs [No link]
Supplement Information [No link]
Rarity
Floor price
History
Number of owners
Price History
-->

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---
html: stablecoin-issuer.html
parent: tokenization.html
seo:
description: Issue your own stablecoin, based on assets of equal value outside of the XRP Ledger.
labels:
- Tokens
- Stablecoin
---
# Stablecoin Issuer
_As a financial professional, I want to issue a stablecoin so that I can earn revenue by charging fees for withdrawals or transfers of the stablecoin._
Stablecoins are tokens that are backed by assets outside of the XRPL. Stablecoins allow users to transact in familiar currencies, and provide a convenient way to get funds into and out of the XRPL blockchain.
The mechanics of issuing a stablecoin are not complicated.
1. Decide on the name for your stablecoin (either following the 3-character ISO standard or using a 160-bit hex string. See [Currency Codes](../../references/protocol/data-types/currency-formats.md#currency-codes)).
2. Create a trust line between the issuing account and a consuming account establishing a maximum number of stablecoins to transfer.
3. Send a payment of stablecoins to the consumer up to the maximum amount in the trust line.
While anyone can issue a token with any currency code in the XRP Ledger, stablecoin value comes from the promise that it can be redeemed for a corresponding asset. Issuing a stablecoin might involve regulatory obligations, which vary by jurisdiction. For these reasons, an established, reputable business is most likely to succeed in issuing a stablecoin.
[![Stablecoin Workflow](/img/uc-stablecoin-flow.png)](/img/uc-stablecoin-flow.png)
There are many decisions to make and artifacts to generate as you prepare to release a new stablecoin. You can use the XRPL Foundation's [Self-assessment Questionnaire](https://foundation.xrpl.org/wp-content/uploads/2022/03/self_assessment_questionnaire_140322.pdf) as a starting point to gather and produce the necessary information for a successful launch.
## Choose the Type of Stablecoin
The first step is to decide the type of stablecoin you want to create. Your choice of stablecoin type might require additional steps, such as signing on financial or audit partners.
![Stablecoin](/img/uc-stablecoin-stable-coin.png)
There are five common types of currency tokens you can create on the XRPL: fiat-backed, crypto-backed, commodity-backed, financial instrument-backed, and non-collateralized. See [Stablecoins](../../concepts/tokens/fungible-tokens/stablecoins/index.md).
## Set Up Your Node Services
For lighter use cases and individual servers, you can often rely on free public servers. However, the more serious your use of the XRP Ledger becomes, the more important it becomes to have your own infrastructure.
There are many reasons you might want to run your own servers, but most of them can be summarized as: you can trust your own server, you have control over its workload, and you're not at the mercy of others to decide when and how you can access it. See [Reasons to Run Your Own Server](../../concepts/networks-and-servers/index.md#reasons-to-run-your-own-server).
Alternatively, you can use an external node service provider like OpenNode. See [OpenNode](https://www.opennodecloud.com/).
## Sandbox Access
![Sandbox](/img/uc-stablecoin-sandbox.png)
For testing purposes, you can implement, deploy, and trade your stablecoin on the XRPL Testnet or Devnet servers. Visit the XRP Faucets page to generate your test network credentials. Use the listed server URIs on that page to connect to and interact with your chosen test network. See [XRP Faucets](/resources/dev-tools/xrp-faucets).
## Stablecoin Settings
Before you mint your new stablecoin, you need to configure settings, some of which are immutable once you issue the first coin.
See [Stablecoin Settings](../../concepts/tokens/fungible-tokens/stablecoins/settings.md).
For more detail on configuration capbilities, see [Stablecoin Issuer Configuration](../../concepts/tokens/fungible-tokens/stablecoins/configuration.md).
## Asset Information
Publish standard information about your stablecoin to enable potential traders to verify the coin's stability.
### Asset Nomenclature
Choose a 3-character string for your currency code. Per ISO 4217, supranational currency codes begin with the letter _X_ for a currency that is not associated with a country. See [ISO 4217](https://en.wikipedia.org/wiki/ISO_4217#X_currencies_(funds,_precious_metals,_supranationals,_other)).
Currency codes do not have to be unique. For instance, if you're issuing a stablecoin backed by a national fiat currency, it's better to use the official code for that currency, such as _EUR_.
### xrp-ledger.toml
You can publish information about what currencies you issue, and which XRP Ledger addresses you control, to protect against impostors or confusion, using an `xrp-ledger.toml` file on your website. This machine-readable format is convenient for client applications to process. If you run an XRP Ledger validator, you can also publish the key in the same file.
You can use the _Currencies_ table to provide additional information about your stablecoin. This makes the information about your cryptocurrency accessible in an expected place and format, and enhances transparency. See [xrp-ledger.toml File](../../references/xrp-ledger-toml.md#currencies).
## Account and Key Management
### Multisignature Schemes
By using multiple keys and signing weights, issuers and asset holders can distribute trust and responsibility for approving transactions for an account between different users and systems. This gives you the flexibility to gate those signatures using internal processes and controls.
See [Multi-signing](../../concepts/accounts/multi-signing.md).
<!--
### Omnibus Wallets
For customers who prefer not to take custody of their own wallets, you can create an omnibus account with subaccounts, then assign these accounts to customers.
## Treasury Management
### Reconciliation
Periodically audit to verify that distributed stablecoins and stablecoins in escrow equal the total number of stablecoins.
### Checking Reserves
How to check reserves.
### Proof of Reserves
How to transparently report the current number of stablecoins held in reserve.
-->
## Token Operations
### Issue a Stablecoin
Actually issuing a new stablecoin is straightforward. In practice, there are many considerations when issuing a stablecoin that users will trade with confidence.
Before you issue your stablecoin, download and read the questions in the [Self-assessment Questionnaire](https://foundation.xrpl.org/wp-content/uploads/2022/03/self_assessment_questionnaire_140322.pdf). When you are ready to distribute your stablecoin, complete the public [Token Issuer Self-Assessment Questionnaire](https://foundation.xrpl.org/token-assessment-framework/). This allows full transparency to the XRPL community about your new stablecoin.
For additional considerations, see:
- [Stablecoin Issuer - Precautions](../../concepts/tokens/fungible-tokens/stablecoins/precautions.md)
- [Stablecoin Issuer - Compliance Guidelines](../../concepts/tokens/fungible-tokens/stablecoins/compliance-guidelines.md)
- [Issue a Fungible Token](../../tutorials/use-tokens/issue-a-fungible-token.md)
### Create a Trust Line
Trust lines are structures in the XRP Ledger for holding tokens. Trust lines enforce the XRP Ledger's rule that you cannot cause someone else to hold a token they don't want. This precaution is necessary to enable the XRP Ledger's use case for community credit, among other benefits.
Each "trust line" is a bidirectional relationship consisting of:
- The identifiers for the two accounts that the trust line connects.
- A single, shared balance, which is positive from the perspective of one account and negative from the other perspective.
- Various settings and metadata. Each of the two accounts can control its own settings on the trust line. Each side sets a limit on the trust line.
Each trust line is specific to a given currency code. Two accounts can have any number of trust lines between them for different currency codes, but only one shared trust line for any particular currency code.
See [Trust Lines](../../concepts/tokens/fungible-tokens/index.md#trust-lines).
### Authorized Trust Lines
The Authorized Trust Lines feature enables issuers to create tokens that can only be held by accounts that the issuer specifically authorizes. This feature only applies to tokens, not XRP.
To use the Authorized Trust Lines feature, enable the `Require Auth` flag on your issuing account. While the setting is enabled, other accounts can only hold tokens you issue if you have authorized those accounts' trust lines to your issuing account.
See [Authorized Trust Lines](../../concepts/tokens/fungible-tokens/authorized-trust-lines.md).
### Freeze a Trust Line
If you issue tokens in the XRP Ledger, you can enable the _No Freeze_ setting to permanently limit your own ability to use the token freezing features of the XRP Ledger. (As a reminder, this only applies to issued tokens, not XRP.)
If you do not enable the _No Freeze_ setting, when an account shows suspicious activity or violates your institution's terms of use, you have the option of freezing the trust line while you resolve the issue.
See [Freezing Tokens](../../concepts/tokens/fungible-tokens/freezes.md).
### Global Freeze
If you see signs of suspicious activity, you can enact a global freeze on your account to prevent users from sending your tokens to each other and trading your token in the decentralized exchange.
![Global Freeze](/img/uc-stablecoin-global-freeze.png)
See [Enact Global Freeze](../../tutorials/use-tokens/enact-global-freeze.md).
### Clawback
_(Requires the [Clawback amendment][] {% not-enabled /%})_
Clawback is an optional setting that you can choose before you begin to distribute your stablecoin. For regulatory purposes, some issuers _must_ have the ability to recover issued tokens after they are distributed to accounts. For example, if an issuer were to discover that tokens were sent to an account sanctioned for illegal activity, the issuer could recover, or _claw back_, the funds.
See [Clawback](../../references/protocol/transactions/types/clawback.md).
![Clawback](/img/uc-stablecoin-clawback.png)
### Partial Payments
Look out for partial payments. Payments with the partial payment flag enabled can be considered "successful" if any non-zero amount is delivered, even minuscule amounts.
* Check the transaction for a `delivered_amount` field. If present, that field indicates how much money _actually_ got delivered to the `Destination` address.
* In xrpl.js, you can use the [`xrpl.getBalanceChanges()` method](https://js.xrpl.org/modules.html#getBalanceChanges) to see how much each address received. In some cases, this can be divided into multiple parts on different trust lines.
See [Partial Payments](../../concepts/payment-types/partial-payments.md).
### Burn
One way to manage the value of a token is to destroy, or _burn_ tokens, which reduces the number of tokens in circulation. On the XRP Ledger, fungible tokens are automatically "burned" when they are sent to the issuing address. However, the issuer can freely create more tokens.
To ensure a limited supply, you can "black hole" the issuer after issuing tokens, by setting its regular key to an address like `rrrrrrrrrrrrrrrrrrrrrhoLvTp` for which no one knows the private key, and disabling the master key pair.
**Warning:** A black hole account has no way to send transactions of any kind, so you cannot update any settings or do any maintenance on the account afterwards!
See [Disable Master Key Pair](../../tutorials/manage-account-settings/disable-master-key-pair.md).
### Reliable Transaction Submission
The goal of reliably submitting transactions is to achieve the following two properties in a finite amount of time:
* Idempotency - Transactions should be processed once and only once, or not at all.
* Verifiability - Applications can determine the final result of a transaction.
To submit transactions reliably, follow these guidelines:
* Persist details of the transaction before submitting it.
* Use the `LastLedgerSequence` parameter. (Many [client libraries](../../references/client-libraries.md) do this by default.)
* Resubmit a transaction if it has not appeared in a validated ledger whose [ledger index][] is bigger than or equal to the transaction's `LastLedgerSequence` parameter.
For more information, see [Reliable Transaction Submission](../../concepts/transactions/reliable-transaction-submission.md).
### List on the XRPL Native DEX
Decentralized exchanges (DEXes) are integral to the decentralized finance ecosystem. Listing your token on the XRP Ledger's built-in DEX enhances its visibility and accessibility, thereby attracting more liquidity. Begin by placing sell offers using a suitable interface, such as [Sologenic](https://sologenic.org/trade). As a precaution, use a separate account, not your issuing address, to trade.
### List on an AMM
_(Requires the [AMM amendment][] {% not-enabled /%})_
Automated Market Makers (AMMs) are smart contracts that provide liquidity in the XRP Ledger's decentralized exchange. Each AMM holds a pool of two assets and enables users to swap between them at an exchange rate set by a formula.
For any given pair of assets, there can be up to one AMM in the ledger. You can create the AMM for an asset pair with your new token if it doesn't exist yet, or deposit to an existing AMM. Those who deposit assets into an AMM are called _liquidity providers_ (LPs) and receive _LP Tokens_ from the AMM.
See [Automated Market Makers](../../concepts/tokens/decentralized-exchange/automated-market-makers.md).
{% raw-partial file="/_snippets/common-links.md" /%}