What Is Bit payer Token (BPT)?

What Is Bit payer Token (BPT)? Complete Guide Review About Bit payer Token.

What Is Bit payer Token (BPT)?

When you sell a Set token via the Sell button, you instruct the smart contract to liquidate the underlying collateral, burn the Set token and receive a single asset in return (e.g. ETH). In contrast, the redemption process burns the Set token and frees your underlying collateral from a Set in a less gas-intensive transaction whilst also having the major benefit of zero slippage if the Investor remains bullish on the assets and just wants custody again.

Bit payer Token To Issue a Set via Token Sets you first need to navigate to the particular Sets details page. For the example of the DeFi Pulse Index that would be here. Once you’re on the Set details page you then have access to the Issue & Redeem buttons pictured below to show the overlay.

The next step is granting token approval permissions to the Set smart contract via the overlay below. At the bottom, you will see a button that allows you to approve all the underlying tokens with the one batched transaction to save time.

Bit payer Token Storage Key Points

Coin BasicInformation
Coin NameBit payer Token
Short NameBPT
Circulating SupplyN/A
Total Supply8,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Desired Set Tokens

Once the underlying tokens are approved, you will be presented with the main Issuance overlay where you can provide the underlying assets required to Issue the desired Set Tokens. Pressing the Max button calculates the total amount of issuable Set tokens based on the number of eligible assets you hold within your connected wallet. Once you have completed the form, press Issue to preview the transaction.

For this example, Bit payer Token are connected to TokenSets via the MetaMask browser wallet which facilitates the transaction preview appearing. Once we confirm the proposed transaction, the required assets are sent from the connected wallet to the underlying Set smart contract, which, in turn, issues the respective Set token back to your connected wallet in return, completing the issuance flow.

Set Redemption

Redeeming a Set on Token Sets from a UI perspective is an almost identical process to the Issuance user journey. Bit payer Token The difference lies in the preview module where you can input how many Set tokens you want to transact, and currently hold within your connected wallet, and send to the underlying Set smart contract in return for the corresponding collateral.

Tracking Performance

For Sets that are just available via Token Sets and direct contract integration, performance tracking is available currently on Zerion. Whilst it is up to the manager of the Set to provide communication and news regarding his product, keeping up to date on changes to allocations in the Set is straightforward from a UI perspective too.

Set Creation

One of the beautiful features of Token Sets is the ability to become an on-chain asset manager via a short 3 step creation wizard and one transaction. This friction less design is what opens the protocol to all participants that want to manage money, whether you are an institution wanting to offer high AUM prospect structured projects to customers, a project treasury wanting to ensure longevity and risk management in a transparent way or even a small group of friends that want to pool their capital and trade together in a completely trustless manner.

Creation Wizard

Bit payer Token There are three steps associated with creating a Set, token selection, set metadata & publishing, seen below. In this guide, they will go through each step in detail. The first step in the process is selecting your starting assets for your Set and their respective allocation. So what assets can you include in your Set? Well here are a few rules to ascertain whether a token is eligible or not, please follow these guidelines.