FRED Wallets

0 Shares
0
0
0

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, Update, yup we made it!) 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) .

Entries include:

Trustlines
Offers
Signers
Data entries

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.

Trustlines

“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

Domain: fredenergy.org

Issuer: GCA73U2PZFWAXJSNVMEVPNPPJCZGETWPWZC6E4DJAIWP3ZW3BAGYZLV6

Asset Code: SOLS

Domain: solsbank.com

Issuer: GAWTJMZIR4KPCZ7BQZK6QRAJYT6FOIM3YP2MKGWOYHPJYQQOIEJWFRED

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.

  1. Visit https://lobstr.co and choose your wallet type, Desktop, Google Play or App Store
  2. Click “Get Started” if you are using the desktop version
  3. Enter your email and password to create an account
  4. Open your email client and verify your email via the link sent from Lobstr
  5. Once logged in to Lobstr, you will be given the opportunity to save the wallet address and secret keys
  6. Important! Make sure you save the keys somewhere safe
  7. You can now start adding trustlines to Stellar tokens from your wallet dashboard
  8. Note! The secret wallet key can be imported to other wallets and DEX, make sure any platform you use is secure

DEX wallets

One of our favourite DEX wallets is Interstellar.exchange which provides a full exchange service experience.

Download the app or goto interstellar.exchange and follow these steps;

Apple app

Google Play
Open the app or website and select login, create new session password

Interstellar 1

Select “Generate Random Wallet”

Interstellar 2
Copy your secret keys and keep them safe

Interstellar 3

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

Interstellar 4

Once the wallet is funded you can add the trustline to FRED.

Select “Add token” then Manual

Interstellar 5

Enter Asset Code: FRED

and Asset Issuer: GCA73U2PZFWAXJSNVMEVPNPPJCZGETWPWZC6E4DJAIWP3ZW3BAGYZLV6 and click “Submit”

Interstellar 6

Select “Trust Asset”

Interstellar 7

Sign the transaction by clicking “Submit”

Interstellar 7

The wallet is now able to hold FRED tokens and interact with the DEX trades

Interstellar 9

Other Stellar based DEX wallets include;

Stellarterm

Scopuly

Lobstr

Foxlet

FREDX Ethereum Wallets
There are many Ethereum based wallets for both mobile and desktop, choosing one depends on how you aim to use it and your preferences.

One of our favourites and used by millions;

Metamask

metamask wallet

Metamask is great for interacting with blockchain-based applications and is trusted by more than 1 million users.

Please read our guide on how to add FREDX, bFREDX and pFREDX here and enjoy swapping between networks and DeFi offerings.

0 Shares