Wallet Setup

Time: 1 day

Create a TON-Compatible Wallet

Set up a wallet compatible with the TON blockchain that can hold both the tokens you will sell and the TON required for transaction fees.

Use non-custodial wallets for greater security and control.

Your wallet needs to be both functional and secure, especially if it’s handling large amounts of tokens and funds. By opting for a non-custodial wallet, you retain full ownership of your assets, eliminating the risk of third-party failure while also preparing for the efficient flow of transactions during the sale.

Fund the Wallet

Ensure the wallet is funded with sufficient TON to cover transaction fees throughout the LBP event.

The TON amount required will depend on the number of transactions expected during the sale. Plan ahead for fees related to token deployment, LBP setup, and potential user transactions.

Multisig Wallet Setup (Optional)

For increased security, set up a multisig wallet where multiple signatures are required to move funds. This prevents any single individual from having full control.

This is particularly useful for teams and reduces the risk of a single point of failure.

Multisig wallets provide shared control. This setup is invaluable for teams since it distributes responsibility and prevents any single point of failure. It also builds trust within the team, as all key transactions must be approved by multiple parties, reducing the risk of unauthorized moves or fraud.

Backup Wallet Keys

Securely back up the wallet's seed phrases and private keys. Store them in a secure location, such as a hardware wallet or an encrypted backup.

Losing access to your keys means losing access to your funds. Ensure that backups are made and stored safely.

These keys are the only way to access your funds, so protecting them from loss or theft is crucial. By using secure backups, you can rest assured that even in the case of device failure, you’ll still be able to recover your assets and continue with your LBP uninterrupted.