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Statemint

Statemint is a generic assets parachain which provides functionality for deploying and transferring assets — both Fungible and Non-Fungible Tokens (NFTs). It is a common good parachain on Polkadot (not to be confused with Statemine, which is a parachain on Kusama). The native token of Statemint is DOT. The Existential Deposit (ED), transfer fees, and the deposits for proxy/multisig operations on Statemint are about 1/10th of the values on the Relay chain. For example, the Existential Deposit of a Statemint account is , when compared to on Polkadot. Apart from the core protocol token DOT, the assets held on Statemint can be broadly categorized as

  • Assets backed by an on-chain protocol’s utility
  • Assets with off-chain backing
  • Assets without any backing

For additional background on Statemint and Statemine check out this support article.

Creating Assets on Statemint

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Before minting assets on Statemint, we recommend that you try out this tutorial on Westmint, which is a parachain on Westend. The WND tokens (Westies) are free and are available through a faucet.

To create an asset on Statemint, you would need a deposit of and around for the metadata . Before you create an asset on Statemint, ensure that your Statemint account balance is a bit more than the sum of those two deposits, which should seamlessly account for the required deposits and transaction fees. You can send DOT from a Polkadot account to a Statemint account using the teleport functionality. For instructions on teleporting DOT, check this tutorial on Teleports.

Assuming you have the required DOT balance on your Statemint account, the following instructions should let you successfully create an asset on Statemint

Navigate to Assets page

  • Click on the create button and you will be presented with a pop-up window. Choose the creator account, name of the asset to be displayed on Statemint, the asset's symbol, number of decimals for the asset, the minimum balance required to hold this asset on a Statemint account and the most important field of your asset - the unique asset ID. The UI would not let you enter an ID that has already been taken. After all the details are entered, click on the next button.

Add Asset Metadata

  • Choose the admin, issuer and the freezer accounts for your asset and click on the create button.

Asset managing accounts

  • Sign and submit the transaction (If you like to verify the transaction details before signing, you can click on the dropdown button pointed by the arrow in the snapshot below).

Sign asset creating transaction

If the transaction is successful, you should see the asset and its details displayed in the Network > Assets page on Statemint.

Transferring Assets on Statemint

Checkout this support article, for a step by step guide covering how to make a transfer on the Statemine and the risks associated.