23 Jun 2019

Invest Stellar Trustlines

Trustlines on Stellar for bitFORTUNE bitFORTUNE requires

23 Jun 2019

Trustlines on Stellar for bitFORTUNE

bitFORTUNE requires two trustlines be established on a Stellar account to trade bitFORTUNE tokens. The first is a trustline with BTC (naobtc.com) and the second is a trustline with the bitFORTUNE asset.

On Stellar a trustline is an explicit statement on a Stellar account owners part that the account trusts a token. A Stellar account must make a “trustline” to an asset before the account can own or trade that asset. Every Stellar account automatically trusts the lumen and that trustline cannot be revoked.

To go through the process of establishing the aforementioned trustlines navigate to StellarTerm.

StellarTerm Home

Plug in a Ledger Nano hardware device managing a Stellar account, enter the pin and navigate to the Stellar application on the device. Next select “Login” on the StellerTerm web page. Then select the “Ledger” button on the StellerTerm web page. Accept the “Terms of Use” by checking the check box then select the “Sign in with Ledger” button.

StellarTerm Ledger Login

Note in the image above that a custom BIP32 path is used but for Ledger Nano devices with just one Stellar account created this setting is not necessary.

After logging in the user is greeted with the StellarTerm inflation proposal. Select the “No thanks” link to proceed. If the user happens to select the “Accept and Continue” button it is no big deal, the account will just give an inflation vote to StellarTerm. Stellar inflation is avoided here as out of the scope of these instructions.

StellarTerm Inflation

After this the user is presented with their account on the Stellar blockchain.

StellarTerm Stellar Account

Select the “Accept assets” tab. In the “Anchor Domain” text field type, “naobtc.com”. This will search the Stellar blockchain for assets verified by naobtc.com.

StellarTerm Search naobtc.com

Select the “Accept BTC” button next to the “BTC naobtc.com” asset. This will prompt the user to verify the transaction on their Ledger Nano device. On the Ledger Nano device ensure that the device is not timed out, if so, re-enter the pin to unlock the Ledger and ensure the device has the Stellar application selected. Read the device and click through the transaction parameters until the transaction is finalized. Clicking both buttons on the Ledger Nano device will approve each transaction parameter.

StellarTerm Accept naobtc.com

After the transaction is approved the BTC (naobtc.com) asset will have an established trustline with the Stellar account. At this point the Stellar account can receive, trade, and send BTC using the NaoBTC gateway/trustline.

StellarTerm naobtc.com Trustline

Next the bitFORTUNE asset must be added to the Stellar account. On the “Accept assets” tab of the StellarTerm web page scroll to the bottom of the page until the form titled, “Manually accept asset” is visible. In the “Asset Code” field put the value, “bitFORTUNE”. In the “Issuer Account ID” field put the value, “GBVMIYIIME4LGWZM6VOGFMKPXENMYDCGQFH2OSGH4K3M4XDDISAIR3H7”. This will find the bitFORTUNE asset on the Stellar blockchain.

StellarTerm bitFORTUNE Search

Select the “Accept asset bitFORTUNE” button. This will prompt the user to verify the transaction on their Ledger Nano device.

StellarTerm Accept bitFORTUNE

After finalizing the transaction on the Ledger Nano device the bitFORTUNE asset will have an established trustline with the Stellar account. At this point the Stellar account can receive, trade, and send bitFORTUNEs on the bitFORTUNE exchange.

StellarTerm Account Trustlines

Congratulations! Your Stellar account has the trustlines needed to buy, sell and trade bitFORTUNE tokens!

Invest in bitFORTUNE

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