Acc. to Cardano Docs there are 2 ways to make your token available to the public. A private taken sale or an exchange. Acc to IOHK there is no need to create smart contracts when issuing cardano native tokens.
“Native support grants distinct advantages for developers as there is no need to create smart contracts to handle custom token creation or transactions. This means that the accounting ledger will track the ownership and transfer of assets instead, removing extra complexity and potential for manual errors, while ensuring significant cost efficiency.”
My question: if I want to do a private token sale, how would I go about this? What are the technical requirements. I have minted tokens already but now I need something to handle transactions which the above says smart contracts arnt needed for. Or would I actually need a Cardano dev with Plutus/Haskell experience to develop smart contracts for token issuance. Would it be as simple as selling on Wordpress via woocommerce and collecting a users token address then manually selling tokens there. Any help or ideas would be most useful. Thanks.
I believe more important is to see what are the legal implications of selling the tokens. The technical part is probably the easy one.
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The technical part is what I need advice on.
If you want to do it with a dApp (“Connect your wallet.”), you will need to learn how to write Plutus contracts and dApps. The quote saying smart contracts aren’t needed just refers to the minting itself. In contrast to Ethereum native tokens do not live inside a contract on Cardano, but are … native.
You can do that also. Then you don’t need a contract. But you need people to trust you more that you will really send back their tokens after they have sent you ADA.
Smart contracts are not needed, all you need is a running Cardano node and a script which looks for incoming transactions. So only bash and some networking skills would suffice. Good luck.
You don’t even need a node. You could also monitor incoming and submit outgoing transaction with an API like Blockfrost or Koios.
I’m not sure about blockfrost premium or koios but blockfrost free version is really bad because of the rate limiting and they rate limit you arbitrarily for a couple minutes which is an extremely bad experience. I contacted them to ask if it is any better in the paid version but did not get an adequate response.