Read this tutorial to learn how to create new wallets to safely store and control your INSTAR tokens on INSTAR Blockchain without instars.com.
Great news for INSTAR token holders storing their tokens on exchanges and those interested in joining our rapidly growing community!
As our user base expands and more people start buying INSTAR tokens on exchanges like Bibox and Bittrex and DeFi options such as Balancer and Uniswap there's a growing demand to safely store INSTAR tokens outside of instars.com.
We've created a step by step tutorial with instructions to create new wallets on INSTAR Blockchain to safely store your INSTAR tokens in a secure and trustless way.
Starting now, users can create their own accounts on INSTAR blockchain without needing to interact with instars.com, or any third party such as your friend with an existing account or Eos Account Creator.
You will be able to store and access your INSTAR tokens with popular wallets that support INSTAR such as Anchor by GreyMass and Scatter.
Step One
First, generate a public - private key pair at the INSTAR key generator or any eos keypair generator. Make sure to back up your private keys in multiple safe locations and never share them.
Step Two
Second, transfer your INSTAR from the exchange to the instar address setupaccount with a memo in the following format: accountname-publickey.
For example : greataccount-EOS6LsRg1gJuJ9Qtvrz3drgVtWQ9VHvkJRY4pduQdSMuHw1GW4QWG
The INSTAR account setupaccount has a smart contract deployed that will perform the following steps when it receives a transfer:
- Create a new account using your specified name, and set the public key as owner and active key.
- Buy 4 KB of RAM for your new account with some of the transferred INSTAR. Every account that is created on the INSTARS blockchain needs at least 4KB of RAM to exist.
- Delegate and transfer 0.1 INSTAR for CPU and 0.1 INSTAR for NET.
- Forward the remaining INSTAR balance to your new account.
If any of those actions fail, the transaction will be rolled back and all the INSTAR will be transferred back to original account.
Step Three
You will now be able to access your INSTAR tokens with popular wallets that support INSTAR such as Anchor by GreyMass and Scatter.
We appreciate the continuous support from the INSTAR Community as we work to build the future of blockchain-powered market research and data exchange.
Stay tuned for more updates!
Onwards,
Team Insights Network (INSTAR)