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TRC-20 Token Feature

CryptoCurrencies

Note: This feature is available starting from Pay Money v4.3.0 and later. Pay Money now supports the creation of TRC-20 tokens. To create a TRC-20 token, the Admin must have Tron assets (TRX or TRXTEST) available. Please note that approximately 500 TRX is required as a network fee for creating a TRC-20 token.

Feature Overview

  1. TRC-20 Token Creation:

    • The Admin can create TRC-20 tokens with a customizable supply based on their requirements.

  2. Token Transfer Between Admin and Users:

    • The Admin has the ability to send TRC-20 tokens to PayMoney users and also receive tokens from them.

  3. User-to-Merchant Transfers:

    • Users can send TRC-20 tokens to merchants with valid Tron wallet addresses.

  4. User-to-Wallet Transfers:

    • Users can transfer TRC-20 tokens to any valid Tron wallet address.

  5. Future Token Integrations:

    • Currently, only TRC-20 tokens are integrated. Future updates will include support for additional token types.

Back End

Add New Token

  • Navigate to Admin -> Crypto Token, and click on the "Add New Token" button to add a new token.

Custom Token

  • Admin can create a custom TRC-20 token with his desired amount, name & Symbol against the Tron network

Important Points to Note:

  • The admin or site owner has the option to create either a real TRC-20 token or a TRC-20 test token.

  • Token creation fees will be deducted from the native Tron address.

  • If the "Create Wallet" option is set to "On," a wallet for the selected TRC-20 token will be automatically created for all "ACTIVE" existing or registered users.

  • The admin can specify the total token supply needed during creation. Once the token is created, the supply, name, decimals, symbol, and code cannot be modified.

  • Token Decimals: This refers to the number of decimal places into which a cryptocurrency or token can be divided. It determines the smallest unit of the token that can be transacted. For example, if a token has 6 decimals, the smallest unit of that token would be 0.000001.

Stable Token Management

  • The admin cannot create stable tokens such as USDT or USDC, as these are already deployed by their respective authorities.

  • To enable a stable token within the system, the admin must deposit the token into their Tron address.

  • The stable token tab will display the crypto address. Once the stable token is deposited to this address, the token balance will automatically be added to the admin's wallet.

  • After depositing the stable token, the admin can click the "Refresh" button on the token list to update and display the current token list.

Token Sending via Admin

  • Each token has a "Send" button. By clicking this button, the admin can initiate a token transfer. On the token send page, the admin must first select the user to whom the token will be sent.

  • After selecting the user, the system will display the merchant address, balance, token address, token balance, and user address.

  • The transaction will initially be created with a "pending" status. It will be marked as successful once a confirmation is received from the blockchain.

  • The admin can also receive tokens from a user by following similar steps. First, click the "Receive" button, select the user, and confirm the transaction.

Front End

  • Upon successful registration, a wallet is automatically generated for the user, allowing them to "Send" and "Receive" tokens directly from their dashboard.

Token Receive

  • A QR code is generated for the user's unique cryptocurrency wallet address. The user can share this wallet address with others to receive tokens.

  • When tokens are sent to this address, the balance is credited to the user's wallet, and a transaction is created via webhook.

Token Send

  • To send tokens, the user clicks the "Send" button in their crypto token wallet. The user must provide a valid TRX address to initiate the token transfer.

  • Network fees, typically ranging from 5-10 TRX, will be deducted from the native wallet balance. For example, to send 10 tokens, the user's token wallet must have a balance of 10 tokens, and the native wallet must have at least 10 TRX to cover the network fees.

  • The transaction will initially be marked as "pending." It will be completed successfully once a confirmation is received from the blockchain. Webhook notifications will function correctly if the user has an active notification subscription for the Tron wallet.