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XRPLF / xrpl-dev-portal

Source code for xrpl.org including developer documentation
https://xrpl.org
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[Suggestion]Add best practises of IDO into tutorial #2608

Open joynancy opened 4 months ago

joynancy commented 4 months ago

When I read about issuing tokens tutorial here, it said "once your token has been created, you can use the DEX to trade it with other assets". The missing parts are, specific steps and best practises to guide token issuers to initial dex offering (IDO).

Why a guide on IDO is important? Refer to recent issue encountered by XPMarket here More information about XPMarket IDO

Takeaways from XPMarket IDO incident which can be part of the tutorial: https://x.com/angell_denis/status/1792198000539848893

joynancy commented 4 months ago

I have add comment in another ticket here It is related.

joynancy commented 4 months ago

Quote the following best practices shared by engineer as reference:

  1. Test on testnet before you do anything important on mainnet
  2. Check metadata for important transactions
  3. Use tfImmediateOrCancel if you don't want any of the offer to sit on the books
  4. Set the exchange rate for market rate, not pennies on the dollar