Locking Your Token Issuance

If you would like to create a verifiably finite and scarce token, you will have to lock your token to prevent more units from being issued. This is very common in the Counterparty community and is usually required for most projects when submitting your token.

This action is irreversible.

You can only lock token issuance of tokens on the specific address you have asset ownership of. Once you do this it will be publicly viewable in the blockchain and regarded as “locked.” It is not possible to issue more tokens if the token is locked.

To lock issuance of Token Units in Freewallet, navigate to the top right “Actions” icon and select the action “Lock Token Supply”

You can also right click the Asset in the left panel and select “Lock TOKEN supply"

Here you be prompted to simply send a BTC transaction to initiate the Counterparty action to lock the token supply.

Make sure in the Token Name field it is the correct token you would like to lock the supply of.

Understand that this is an irreversible action and will solidify the scarcity you chose for this token.

You can also choose the BTC Fee you wish to use. If you have questions about what BTC fee to use please reference What BTC Fee should I use?

Once you have verified all the above information, click “Lock Token Supply” and the transaction will be broadcast to the Bitcoin Network.

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