Setting Up a Trustline
How to Set Up a Trustline for Investors on Blocscale Launchpad
Setting up a trustline is a necessary step for investors who wish to participate in a token sale on the Blocscale Launchpad. This process ensures that your wallet can interact with and hold the specific tokens issued by the project you’re investing in. Blocscale simplifies this process for users, integrating it into the launchpad’s platform for seamless setup.
What is a Trustline?
A trustline is a feature of the XRP Ledger (XRPL) that establishes a trust relationship between your wallet and the token issuer. It allows your wallet to securely receive and interact with tokens issued on XRPL. By default, XRP wallets cannot hold non-XRP tokens until a trustline is set up.
Steps to Set Up a Trustline on Blocscale Launchpad
Step 1: Create or Connect an XRPL-Compatible Wallet
To participate in the token sale, you need a wallet that supports XRPL and trustlines. Popular options include:
Xaman wallet (highly recommended for ease of use).
Ledger Nano with XRPL support.
Other XRPL-compatible wallets.
If you don’t have a wallet:
Download and set up an XRPL wallet like Xaman from a trusted source.
Secure your wallet by backing up the recovery phrase.
Step 2: Access the Token Sale on Blocscale
Visit the Blocscale Launchpad platform.
Navigate to the Upcoming / Active Token Sales section to find the project you wish to invest in.
Click on the project’s details page, where you’ll find all the necessary information about the token.
Step 3: Find Token Details
Blocscale provides all the required token details for setting up the trustline:
Issuer Address: The wallet address that issued the token.
Currency Code: The token symbol (e.g., BLK).
Limit Amount: The maximum amount of tokens your wallet can hold.
Step 4: Ensure XRP Reserve in Your Wallet
To set up a trustline, you’ll need 2 XRP as a reserve. This amount is locked temporarily and released if you remove the trustline later.
Make sure your wallet has enough XRP to cover this reserve and transaction fees.
Add XRP to your wallet if needed by transferring from an exchange or another wallet.
Step 5: Verify the Trustline
Once the transaction is confirmed:
Open your wallet and check the Assets or Balances section.
You should see the token listed in your wallet, indicating the trustline is active.
Return to Blocscale and proceed to participate in the token sale.
Key Points About Trustlines for Blocscale Investors
Reserve Requirement:
Each trustline requires a 2 XRP reserve. Ensure you have sufficient XRP before creating the trustline.
Custom Limits:
You can set a specific trust limit, ensuring you only accept a certain number of tokens (useful for managing exposure).
Automation:
Blocscale automates the process, significantly simplifying the setup for non-technical users.
Removal:
If you decide not to hold the token anymore, you can revoke the trustline, and the 2 XRP reserve will be returned to your wallet.
Why Trustlines Are Necessary for Blocscale Token Sales
Security: Trustlines ensure that only authorized tokens from verified issuers are accepted by your wallet.
Compliance: Blocscale uses trustlines to manage and control token distribution securely.
Streamlined Participation: Trustlines facilitate a smooth and efficient token sale process, ensuring your wallet is ready to receive tokens immediately after purchase.
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