Listing your BRC-20 tokens on Magic Eden is a simple process that involves two steps. In this guide, we'll walk you through the process of preparing your listing and making your tokens available for sale on the platform. Let's get started!
Checking Your Token Status
Before you can list your BRC-20 tokens, you need to check their status and determine if any preparation is required. Follow these steps:
Go to the Magic Eden homepage and click on your wallet address at the top right corner.
Select the "My items" button to access your profile and digital artifacts.
Click on the "BRC-20" tab to view the balances of the tokens in your connected wallet.
Understanding Token Balances
In the "BRC-20" tab, you will find comprehensive information about your owned BRC-20 tokens. This section presents three columns: "Available to Inscribe," "Ready to Transfer/Trade," and "Recent Activity." Additionally, if your tokens are already prepared for trading, you will observe the corresponding price and quantity details beneath these columns which we will discuss below.
Available to Inscribe: These are tokens that require you to "Inscribe Transfer", a specific inscription before they can be listed on the market.
Ready to Transfer/Trade: These tokens are already prepared and ready for trading on the platform.
Preparing Your Listing
To make more BRC-20 tokens available for listing, follow these steps:
Click on the "Inscribe Transfer" button under the 'Available to Inscribe' column on the BRC-20 tab.
This will bring up the BRC20 Transfer module.
In the module, you'll see a dropdown menu displaying all the BRC-20 tokens in your wallet. It will default to the token you selected.
Choose the 'Amount' of the token you wish to create a transferable inscription for. Note that this represents the number of tokens available in each listing.
You also can select the "Quantity to inscribe" which determines how many transferable inscriptions you want to create. The maximum limit per transaction is 24.
After selecting the desired parameters, click the "Next" button.
Setting Bitcoin Network Fee
On the next screen, you'll have the option to choose the Bitcoin Network fee. The module will provide estimated prices for the "Low," "Medium," and "High" options. Select your preference and click the "Inscribe" button.
Signing the Transaction
You will be redirected to your connected wallet to sign the transaction. Once signed, you'll receive transaction links to track your progress. Note that it may take some time for the transfer inscriptions to be confirmed.
Listing Your Tokens
After the transfer inscriptions are confirmed, follow these steps to list your tokens:
Return to your profile and navigate to the "BRC-20" tab.
You'll now see that the tokens are available in your wallet for listing. They will appear in a separate module under your total token balance.
From the profile page, you can list your tokens directly or visit the "Item Detail" page for each inscription.
When you have prepared your BRC-20 tokens for trading on the marketplace, you will see the "Status" column next to each transfer inscription. This automated check verifies the validity of the BRC-20 token and confirms its inclusion in the BRC-20 token supply. Since Ordinals and BRC-20 operate within a decentralized ecosystem, it is crucial to validate your tokens, and this convenient checkbox simplifies the process.
Pricing Your Tokens
When selling BRC-20 tokens, note that they are priced in Satoshis.
You have the following options for pricing your tokens:
Bulk List/Update: Use this option to select multiple BRC-20 token transfer inscriptions. You can set a global price or specific prices for each inscription.
Item Details Page: From this page, you can price each inscription individually and access specific information about the BRC-20 tokens. You can also update and change the price here.
To confirm your listing, you'll need to approve a transaction in your wallet. It's important to note that this transaction is not broadcasted to the blockchain and does not incur any cost.
Listing your BRC-20 tokens on Magic Eden is a straightforward process. By following the steps outlined in this guide, you can easily prepare your tokens for sale and set the desired prices. Start selling your BRC-20 tokens on Magic Eden's platform today!