Alvara Protocol’s BTS Factory — A Quick Guide to Minting and Managing Your ERC-BTS
Alvara’s BTS Factory is revolutionizing the world of investing by offering a seamless way for individuals to mint and manage their own fund. The protocol empowers users to create ERC-BTS (Basket Token Standard) tokens, making it possible for anyone to become a fund manager. In this article, we will walk you through the steps of minting and managing ERC-BTS tokens via the Alvara Protocol.
Before you can mint your own ERC-BTS, you need to set up your environment and wallet. Here’s how:
1. Ethereum Wallet: To interact with Alvara’s BTS Factory, you will need an Ethereum wallet. Popular choices include MetaMask, Trust Wallet, or Coinbase Wallet. Create or import your wallet if you haven’t already.
2. Ethereum (ETH): You’ll need at least the initial contribution of 1 ETH + ETH for gas fees when minting your ERC-BTS. Ensure your wallet has enough ETH to cover these.
3. Head over to Alvara’s BTS Factory: Visit alvaraprotocol.io and access the BTS Factory dApp. Connect your Ethereum wallet to access the platform.
4. BTS Details: Define your ERC-BTS token’s name, ticker, image and description. These details will be crucial in distinguishing your BTS from others. Make it unique, be creative!
The next step is choosing its assets. The BTS Factory is connected to Uniswap making it possible to select any assets listed on Uniswap. Search and select your assets and decide the weighting (%). When you’re sure about a token’s weighting, make sure to press the lock to prevent further adjustments. When 100% of the ERC-BTS is filled, it’s onto the next step.
Almost there! Now it’s up to you to choose how much ETH you’d like to use as starting capital for your ERC-BTS. Remember, you can redeem your ETH at any time by using the BTS LP Tokens you receive after minting. The minimum for minting an ERC-BTS is 1 ETH excluding gas fees.
Review & Mint
Once you’ve selected your BTS details, allocated all assets and selected your starting capital, it’s time to mint. Before minting your ERC-BTS, make sure you review the tokens you’ve selected.
Congratulations — you’re a fund manager!
After minting your own ERC-BTS, you’ll receive a BTS ownership token and BTS LP tokens. The ownership token gives you rights to management fees and adjustments of the underlying assets. The BTS LP tokens represent your capital commitment — these can be used to retrieve your capital from the ERC-BTS.
Your ERC-BTS will immediately be pulled onto the leaderboard, competing against every other ERC-BTS ever minted. Investors can track performance metrics and choose to contribute to each ERC-BTS.
Next steps: Manage your fund. Scale your business. Build TVL and earn management fees. Then when it’s time to retire, sell your ERC-BTS (and management rights) to the highest bidder at Alvara’s Marketplace.
Mark your calendars: The presale on Tenset’s TGLP for Alvara’s native token, ALVA, is scheduled for February 2024. Secure ALVA tokens and participate in this groundbreaking ecosystem from its earliest stages through to global prominence.
About Alvara Protocol
The Alvara Protocol is a decentralized platform that utilizes the ERC-BTS (Basket Token Standard) to create and manage funds on the blockchain. Alvara offers a comprehensive fund Factory and Marketplace, with a transparent leaderboard showcasing the performance of every BTS created. ALVA and veALVA tokens assume crucial roles in driving the ecosystem’s growth and governance with veALVA holders wielding significant influence over the substantial ALVA reward stream. Removing traditional barriers, Alvara fosters a democratic meritocracy in crypto investing, enabling full lifecycle fund management, from creation to ownership transfer, within its seamless framework.