Choose a token type
The first thing the app asks when you launch a token is Who can hold this token? There are two answers, and the choice is permanent: to change it later you'd launch a new token.
The short version
| Approved investors only | Open to anyone | |
|---|---|---|
| Best for | A company, fund or property raising capital | A community, membership, reward or payment token |
| Who can hold it | Only investors you approve | Anyone |
| Is it an investment offering? | It can be | No. Its page says so |
| Approved investor list | Always included | Not available |
| Lock-up dates per investor | Always included | Not available |
| Pause all transfers | Always included | Optional |
| Issue more tokens later | Optional, up to a maximum you set | Optional, with or without a maximum |
| Recover tokens from a holder | Optional | Optional |
| Burn tokens you hold | Optional | Optional |
Approved investors only
Choose this if you're raising capital from investors: equity in a company, units in a fund, a share in a property, or debt.
Only investors you approve can hold or receive the token. Every transfer is checked against your approved investor list (whitelist), and the rules travel with the token wherever it goes.
Always included
- An approved investor list that every transfer is checked against.
- Lock-up dates per investor: an investor can receive tokens but can't send them before a date you choose.
- A switch to pause all transfers if something goes wrong.
Optional, chosen at launch
- Issue more tokens later, up to a maximum you set.
- Recover tokens from a holder, for lost access or a legal order. Recovered tokens can only go to an approved wallet.
- Burn tokens you hold.
Open to anyone
Choose this for a token that anyone can hold and pass on: rewards for customers, a community token, or a token people use to pay inside your app. It isn't an investment offering, and its public page says so.
Always included
- A fixed supply, or a maximum supply you can issue up to. You can also choose to have no maximum.
Optional, chosen at launch
- Issue more tokens later.
- Recover tokens from a holder.
- Burn tokens you hold.
- Pause all transfers.
Recovering tokens is a significant trust concern on an open token: holders usually expect that nobody can take their tokens back. Turn it on only if you have a clear reason, and say why on your token page.
Still not sure?
On the first step of the deploy page, select Help me decide. The assistant asks what you're creating and recommends one of the two. You make the final choice by tapping a card or answering in the chat.
As a rule of thumb: if the people buying your token expect a share of profits, ownership or repayment, or if you need to know who they are, choose Approved investors only.
Whichever you choose, every control you keep is listed on the token's public page. See Token rules.