HTS: Fungible Token

Hello World sequence: Create a new fungible token using Hedera Token Service (HTS).

What you will accomplish

Create and mint a new fungible token on HTS
Query the token balance

Prerequisites

Before you begin, you should have completed the following Hello World sequence:

Create and fund account

Get started: Set up project

To follow along, start with the main branch, which is the default branch of the repo. This gives you the initial state from which you can follow along with the steps as described in the tutorial.

You should already have this from the "Create and Fund Account" sequence. If you have not completed this, you are strongly encouraged to do so.

Alternatively, you may wish to create a .env file and populate it as required.

In the terminal, from the hello-future-world directory, enter the subdirectory for this sequence.

cd 04-hts-ft-sdk/

Reuse the .env file by copying the one that you have previously created into the directory for this sequence.

cp ../00-create-fund-account/.env ./

Check that you have copied the `.env` file correctly

To do so, use the pwd command to check that you are indeed in the right subdirectory within the repo.

pwd

This should output a path that ends with /hello-future-world/04-hts-ft-sdk. If not, you will need to start over.

/some/path/hello-future-world/04-hts-ft-sdk

Next, use the ls command to check that the .env file has been copied into this subdirectory.

ls -a

The first few line of the output should look display .env. If not, you'll need to start over.

.
..
.env

Next, install the dependencies using npm.

npm install

Then open the script-hts-ft.js file in a code editor, such as VS Code.

Write the script

An almost-complete script has already been prepared for you, and you will only need to make a few modifications (outlined below) for it to run successfully.

Step 1: Configure HTS token to be created

To create a new HTS token, we will use TokenCreateTransaction. This transaction requires many properties to be set on it.

For fungible tokens (which are analogous to ERC20 tokens), set the token type to TokenType.FungibleCommon.
Set the token name and token symbol based on your name (or nickname).
Set the decimal property to 2.
Set the initial supply to 1 million.

script-hts-ft.js

        .setTokenType(TokenType.FungibleCommon)
        .setTokenName("bguiz coin")
        .setTokenSymbol("BGZ")
        .setDecimals(2)
        .setInitialSupply(1_000_000)

Key terminology for HTS token create transaction

Token Type: Fungible tokens, declared using TokenType.FungibleCommon, may be thought of as analogous to ERC20 tokens. Note that HTS also supports another token type, TokenType.NonFungibleUnique, which may be thought of as analogous to ERC721 tokens.
Token Name: This is the full name of the token. For example, "Singapore Dollar".
Token Symbol: This is the abbreviation of the token's name. For example, "SGD".
Decimals: This is the number of decimal places the currency uses. For example, 2 mimics "cents", where the smallest unit of the token is 0.01 (1/100) of a single token.
Initial Supply: This is the number of units of the token to "mint" when first creating the token. Note that this is specified in the smallest units, so 1_000_000 initial supply when decimals is 2, results in 10_000 full units of the token being minted. It might be easier to think about it as "one million cents equals ten thousand dollars".
Treasury Account ID: This is the account for which the initial supply is credited. For example, using accountId would mean that your own account receives all the tokens when they are minted.
Admin Key: This is the account that is authorized to administrate this token. For example, using accountKey would mean that your own account would get to perform actions such as minting additional supply.

Step 2: Mirror Node API to query the specified token balance

Now, query the token balance of our account. Since the treasury account was configured as your own account, it will have the entire initial supply of the token.

You will want to use the Mirror Node API with the path /api/v1/accounts/{idOrAliasOrEvmAddress}/tokens for this task.

Specify accountId within the URL path
Specify tokenId as the token.id query parameter
Specify 1 as the limit query parameter (you are only interested in one token)

Using string interpolation, construct accountBalanceFetchApiUrl like so:

script-hts-ft.js

    const accountBalanceFetchApiUrl = `https://testnet.mirrornode.hedera.com/api/v1/accounts/${accountId}/tokens?token.id=${tokenId}&limit=1&order=desc`;

Learn more about Mirror Node APIs

You can explore the Mirror Node APIs interactively via its Swagger page: Hedera Testnet Mirror Node REST API.

You can perform the same Mirror Node API query as accountBalanceFetchApiUrl above. This is what the relevant part of the Swagger page would look like when doing so:

You can learn more about the Mirror Nodes via its documentation: REST API.

Run the script

In the terminal, run the script using the following command:

node script-hts-ft.js

You should see output similar to the following:

accountId: 0.0.1201
tokenId: 0.0.5878530
tokenExplorerUrl: https://hashscan.io/testnet/token/0.0.5878530
accountTokenBalance: 1000000
accountBalanceFetchApiUrl: https://testnet.mirrornode.hedera.com/api/v1/accounts/0.0.1201/tokens?token.id=0.0.5878530&limit=1&order=desc

Open tokenExplorerUrl in your browser and check that:

The token should exist, and its "token ID" should match tokenId. (1)
The "name" and "symbol" should be shown as the same values derived from your name (or nickname) that you chose earlier. (2)
The "treasury account" should match accountId. (3)
Both the "total supply" and "initial supply" should be 10,000. (4)

Note: "total supply" and "initial supply" are not displayed as 1,000,000 because of the two decimal places configured. Instead, these are displayed as 10,000.00.

Complete

Congratulations, you have completed the Hedera Token Service Hello World sequence! 🎉🎉🎉

You have learned how to:

Create and mint a new fungible token on HTS
Query the token balance

Next Steps

Now that you have completed this Hello World sequence, you have interacted with Hedera Token Service (HTS). There are other Hello World sequences for Hedera Smart Contract Service (HSCS), and Hedera File Service (HFS), which you may wish to check out next.

Cheat sheet

Skip to final state

The repo, github.com/hedera-dev/hello-future-world, is intended to be used alongside this tutorial.

To skip ahead to the final state, use the completed branch. You may use this to compare your implementation to the completed steps of the tutorial.

git fetch origin completed:completed
git checkout completed

Alternatively, you may view the completed branch on Github: github.com/hedera-dev/hello-future-world/tree/completed/04-hts-ft-sdk

Writer: Brendan Editors: Abi, Michiel, Ryan, Krystal

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Last updated 8 months ago