Transfer Token Ownership

With Freewallet you are able to transfer Token Ownership. Token Ownership is a representation of control over issuance and description of your token on Counterparty. Token Ownership is also somewhat of the last cryptographic control an asset has even if the supply has been entirely destroyed or lost. Subassets can still be minted with Token Ownership even if the original token supply is permanently 0 and the description of the asset can still be changed or updated. Though all records of changes to the description of this token are still public and cannot be changed. Some artistic Counterparty projects requires sending Token Ownership to a 'burn address' to restrict the token being changed in the future, so it is useful to know how to use this function.

Please keep in mind this action takes some time, and is irreversible.

To transfer ownership issuance of a Token in Freewallet, navigate to the top right “Actions” icon and select the action “Transfer Ownership”.

Transfer Ownership button within the Actions drop down shown with Red Oval

You can also right click the Asset in the left panel and select “Transfer Ownership of TOKEN"

Transfer Ownership option when right-clicking the left panel shown with Blue Oval

Here you be prompted to simply send a BTC transaction to initiate the Counterparty action to Transfer Ownership.

Transfer Ownership pop-up window

• First check that your source address is the address that holds Ownership of the Token.

• Next, check the Destination Address and input the address you would like to Transfer Ownership to.

• Make sure in the Token Name field it is the correct token you would like to Transfer Ownership of.

• 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 “Transfer Ownership” and the transaction will be broadcast to the Bitcoin Network.