Token Baskets enable users to gain exposure to a group of tokens with just a single transaction, instead of going to exchanges
to find liquidity of each token. This further allows users to
To discover tokens via a themed Token Baskets
To acquire and hold custody of tokens through a single transaction of a themed Token
Basket instead of ordering on multiple exchanges
To balance out the risks associated with volatile tokens
Exchange Token Baskets: Obtain a balanced ratio of Exchange-based tokens - Centralized and Decentralized exchanges - with a single transaction
Themed Token Baskets: Create and trade in themed-based Token Baskets, like “Decentralized supply chain tokens” and “Decentralized media & entertainment tokens”. Suited to users new to crypto looking to acquire a balanced group of tokens without the hassle of individual token purchase.
Token Basket Advantages
A Token Basket is, essentially, a smart contract containing a select group of tokens, this contract owned solely by the creator. Ownership of the Basket is transferred only when it is purchased, and this transaction happens directly on the blockchain
Since the Baskets are basically smart contracts holding the underlying tokens, the liquidity of a basket is maintained entirely on the Blockchain
Buying into a Token Basket comprising of a themed/curated group of tokens is a singularly unique way of discovering and acquiring new digital assets.
Step 1 - Ensure you have ETH/NEO and the underlying ERC20/NEP5 Tokens in your wallet.
Step 2 - Go to the Token Baskets page on the WandX app, unlock your wallet, go to the Create Baskets page and follow the instructions therein.
Step 3 - Once the Basket is published, your Tokens will be stored in a smart contract that represents the Basket, and you will be the owner of that smart contract until a trade occurs.
Step 1 - Ensure you have ETH/NEO/NEOGAS in your wallet to be able to purchase a Token Basket.
Step 2 - Enter the Token Baskets page with either your NEO or ETH wallet address.
Step 3 - Click on “Buy” to purchase a group of ERC20 or NEP5 Tokens with a single transaction. Once the transaction is confirmed on the Blockchain, the Tokens contained in the Basket and their ownership is transferred to you