FRED Energy does not currently provide custodial wallets, however due to the popularity of our blockchains there are several options for each asset, FRED (Stellar), FREDX (Ethereum) and bFREDX (BSC) available.
FRED Swap (expected Q2 2022) will enable swaps between assets and chains. The total available circulating supply accross all chains is 808 Million tokens.
FRED Stellar Wallets
There are many tried and tested Stellar based wallets available with some if not most offering trading on the Stellar DEX through the wallet.
A few things to understand with Stellar wallets is that although transactions a very cheap and very fast, a base reserve of 0.5XLM is required and an additional 0.5XLM per entry (Lobstr provide an initial 1.5 XLM reserve to enable instant use) .
These reserves are made available again once an entry is cancelled.
A new wallet must also be activated by crediting (sending) XLM to it. We suggest a minimum of 2.5XLM to start with, this will enable the adding of FRED trustline and submitting a few entries.
“In order to trade, receive, or hold any asset on the Stellar network you must first establish a trustline with the anchor’s issuing account. An issuing account is an anchor’s Stellar account that created the asset. Trustlines are set using the Change Trust operation and cost a base reserve fee of 0.5 lumens each. What this means is that for each trustline you set, your account will be required to maintain 0.5 lumens in reserve that can’t be spent until you close your trustlines” from Stellar Community
Most Stellar based wallets use the same principles when adding trustlines and will either request the anchor domain (fredenergy.org or the asset code and issuer.
Asset Code: FRED
Asset Code: SOLS
How to setup a Stellar (XLM) wallet app?
Want to know how to setup a Stellar wallet? Just go through the steps below to get access to one of the best and most secure Stellar based wallets available today. Lobstr also pre-fund the wallet so you don’t need to activate it before use, you can also set a federation address for your profile.
- Visit https://lobstr.co and choose your wallet type, Desktop, Google Play or App Store
- Click “Get Started” if you are using the desktop version
- Enter your email and password to create an account
- Open your email client and verify your email via the link sent from Lobstr
- Once logged in to Lobstr, you will be given the opportunity to save the wallet address and secret keys
- Important! Make sure you save the keys somewhere safe
- You can now start adding trustlines to Stellar tokens from your wallet dashboard
- Note! The secret wallet key can be imported to other wallets and DEX, make sure any platform you use is secure
Open the app or website and select login, create new session password
Select “Generate Random Wallet”
Copy your secret keys and keep them safe
The wallet is now ready to be activated by sending XLM to the public address. Click “Public Key” to copy the address to the clipboard and send a minimum of 2.5 XLM to the new wallet
Once the wallet is funded you can add the trustline to FRED.
Select “Add token” then Manual
Enter Asset Code: FRED
and Asset Issuer: GCA73U2PZFWAXJSNVMEVPNPPJCZGETWPWZC6E4DJAIWP3ZW3BAGYZLV6 and click “Submit”
Select “Trust Asset”
Sign the transaction by clicking “Submit”
The wallet is now able to hold FRED tokens and interact with the DEX trades
There are many Ethereum based wallets for both mobile and desktop, choosing one depends on how you aim to use it and your preferences.
Here a a few of our favourites;
To get started download the app or go to the website metamask.io and install
Go through the steps to create a new account or import another account
To add FREDX tokens, do the following;
Select “Add Token”
How to add Binance Smart Chain to Metamask
Switch the connected blockchain by clicking on the tab at the top with “Main Ethereum Network” , then we need to add the Binance Smart Chain network.
Towards the bottom you will see “Custom RPC”
Enter in the BSC mainnet details as follows:
- Network Name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/ or https://bsc-dataseed1.binance.org/
- ChainID: 56, or 0x38 if 56 doesn’t work
- Symbol: BNB
- Block Explorer URL: https://bscscan.com/
You can now connect to the BSC mainnet with your Metamask Wallet by selecting from the network dropdown
Watch a how to video
If you have configured Metamask for Binance Smart Chain (BSC) you will need to add our token in the same way as you did on Ethereum.
Contract address – 0x321614eb36245bf2e2f2e58badaaaad1475e1026
Holding FREDx on Ethereum does not mean you will have the same amont of bFREDx on the Binance chain, they are seperate assets on different networks.