Asset Exchange

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Burst Asset Exchange
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Table of Contents

Description

The Burst Asset Exchange is a built-in peer-to-peer exchange integrated into the Burst Wallet. It allows fast, secure, and decentralized trading of Burst Assets. Because of its decentralized nature, there’s no need for outside organizations or agencies to meddle with its affairs, resulting in improved efficiency and reduced costs.

There’s a wide range of application for potential investments or trades in Asset Exchange due to the fact that Burst Assets can be used as a token for almost anything with value. Examples of such assets include shares in the following: mining pools, retirement funds, crypto mining rigs, crypto gambling sites and silver investments. An overview of the most traded Assets is available here.

Investing

Investing in the Burst asset exchange requires only two things : a Burst wallet and a few burstcoins. The Burst wallet allows direct peer-to-peer trading of assets without any intermediary so fees are almost inexistant.

There are many benefits to owning Asset shares which make it an investment well worth adding to your investment portfolio in the Burst Universe :

Capital growth

A long term objective of Asset share investment is to take advantage of capital growth. This occurs when an individual experiences significant capital gains from the shares they possess through increases in share prices. Some Assets also issue free or bonus shares to their shareholders as another way of passing on company profits or increases in their net worth.

Dividends

Ownership in an Asset entitles you to ownership of their net profits. Assets honor this entitlement to their shareholders in the form of dividends. Another dividend approach used by some Assets is to have a portion of its dividends reinvested in the Asset. In this philosophy, additional shares are issued to shareholders, aside from paying out dividends in Burst.

Liquidity

By their nature, Asset shares are a very liquid product. They can be bought and sold quickly on the Asset Exchange platform. Trading on Asset Exchange also allows you to sell part of your share parcels rather than having to redeem the whole lot.

Facilitating business growth

There are multiple benefits to issuing an asset on the Burst platform. Entrepreneurs who seek investors in order to expand their business can put shares of their project for sale on the Asset exchange. You’re not taking value from other people, you are actually promoting business activity in a wider distributed scale.

There are several advantages given by the Burst asset exchange, such as :

Simplicity

issuing an asset on the asset exchange takes only a few clicks and a small fee of 1000 burstcoins. What you need to do is promote your asset and try to attract your investors with trust and results.

Business growth

you can concentrate on running your business and expanding your existing income stream to benefit both you and your investors. No need to lose time and focus on unnecessary things.

Sense of community

be a part of the Burst ecosystem along with a strong community of investors always ready to analyse and criticize your business choices and help you when necessary. This is a win-win relationship and a beautiful adventure for both parties.

Interface

If you have QBundle installed, then simply start the wallet and connect to your Burst account.

If you're using BRS only, then simply access the Burst interface by visiting http://127.0.0.1:8125/

Burst Asset Exchange

Asset Exchange

This tab gives you access to the Asset Exchange itself. To observe an asset click the "Add asset" button and enter either the Asset ID or ID of the issuing account. Assets of your interest will be listed on the left. By selecting an asset, further information is provided: a description, buy and sell orders, the quantity etc.

Transfer History

Here is listed the transfer history of the assets in your possession.

My Assets

This page will list all the assets in your possession: both those issued by you and those you bought from the exchange.

Open Orders

Here is provided a list of all your orders, notably the assets you are either trying to sell or to buy. It also allows you to cancel them.

Issue Asset

A window will pop up allowing you to issue your own assets into the exchange.

Payout Dividends

This page allows you to use the Asset Distribution Modules. There are three modules: Dividends, Automatic Asset Distribution, Share Swap.

Asset Exchange menu

By default, the Asset Exchange does not list any asset. You will have therefore to add the assets (using the Add Asset button) you are interested in, manually, yourself. For this purpose websites that rank the assets in meaningful ways (by volume, by number of trades etc) and that offer specific filters are starting to appear. If you find yourself in the page of an asset, a Bookmark this Asset button will appear that will allow you to keep track of it.

Here are a few lists you can consult to obtain the IDs of the assets. Keep in mind more will appear, so this list is not exhaustive.

Note: you can only add assets to the list if you are using the browser in normal mode. If you are in incognito (or equivalent) then any added list will disappear once you close the browser window.

Asset Exchange.png

This is the main menu for the Asset Exchange, it is fundamentally organized in two areas.

  • a list with all the assets you are tracking
  • an interface that allows to interact with these assets

If you own tokens for an asset, it will appear in yellow on the side list.

By selecting an asset, the interface area will automatically display the corresponding information. This includes the amount of tokens that have been created ("quantity"), how divisible is the token ("asset decimals"), a brief description of the asset, who created the asset ("account") and the asset identifier ("asset ID"). These informations are crucial, in fact the asset names are non-unique. What this means is that there can be multiple assets that have the same name.

The cost of issuing an asset (1000 BURST) should discourage people from spamming the exchange with assets whose only purpose is confusion and abuse. Without entering this worst-case scenario, it is reasonable to assume that perfectly legit users may create assets of the same name. Therefore a good degree of vigilance before buying is always beneficial.

In order to buy an asset, follow these simple steps:

  1. Select the asset from the list.
  2. Click on "Buy *Asset Name* with BURST"
  3. Quantity: define how many assets you are interested in buying.
  4. Price: set how much you are willing to pay.
    1. Warnng: "price" refers to the cost of a unit of tokens. So, by entering 10, you are willing to pay 10 BURST per token.
  5. Fee: define the fee, the minimum is 1 BURST.
  6. Press buy.
  7. It will ask you for your passphrase and finally press buy asset.

My Assets menu

In this menu all your confirmed assets will be displayed, this includes the assets you issued and those you obtained through trading.

My Assets.png

Assets are also transferable, the procedure is very simple:

  1. Under My Assets, find the asset you wish to transfer.
  2. Click transfer.
  3. Type the recipient
  4. Select the quantity of asset you want to send
  5. Add a message with the transfer if you want.
  6. Complete the fields as follows.
Transfer Asset Box

RECIPIENT

The account you wish to transfer the assets to.

Mandatory: this field is mandatory.

QUANTITY

Specify the amount of assets you wish to transfer.

Mandatory: this field is mandatory.

Limits: there is no upper limit, you can transfer all your assets. The minimum amount you can transfer depends on the nature of the asset. In particular it depends on what has been defined as decimals. For 0 decimals, the minimum would be 1 token. For 1 decimal, it would be 0.1 tokens and so on.

ADD MESSAGE

You can attach a brief message to the transfer.

Optional: this field is optional.

Characters allowed: it can contain any Unicode characters but should be URL-encoded. Maximum length of 1000 characters.

FEE

Set the fee you are willing to pay for the transaction.

Mandatory: this field is mandatory.

Limits: there is no upper limit. However the minimum fee is 1 BRUST.

DEADLINE

Set how long you are willing to wait before the request gets automatically deleted.

Mandatory: this field is mandatory.

Expressed in hours

SECRET PASSPHRASE

Enter your passphrase.

Mandatory: this field is mandatory.

Open Orders menu

Under this menu you can see all your orders that are currently open.


Open Orders.png


What to keep in mind:

  • You can cancel any order you made. However
    • The process is not instantaneous. Your cancel order is broadcasted to the network, it may happen that your order gets accepted before you can manage to cancel it.
    • The process of canceling an order is a transaction, meaning it involves a fee of 1 BURST.
    • An order in the process of being canceled will appear in red under your Open Orders menu.

Issue Asset menu

Under this menu, you can issue assets yourself. These will be publicly available on the Asset Exchange where they can be traded for BURST and vice-versa.

The following window will pop up:

NOTE: as the warning mentions, when you issue your asset you will not be able to modify any of the fields, ever. Reason why it is imperative to make sure all the information entered is correct.

Issue Asset.png

ASSET NAME

The name of the asset you intend to issue. This is also the name announced to other traders, allowing them to find this asset.

Mandatory: you cannot issue an unnamed asset. Names are non-unique: multiple assets can be issued with the same name.

Note: for this reason, pay attention to what you are buying or selling!

Length: between 3 and 10 characters.

Characters allowed: uppercase letters, lowercase letters and numbers.

DESCRIPTION

In this field you can briefly describe the asset being issued.

Mandatory: this field is mandatory.

Characters allowed: it can contain any Unicode characters but should be URL-encoded. Maximum length of 1000 characters.

QUANTITY

Specify how many tokens you intend to create.

Mandatory: this field is mandatory. Must be a whole number

DECIMALS

This field defines the divisibility of the token. As an example, by defining 2 decimals, the minimum amount of tokens you can sell or buy is 0.01.

Mandatory: this field is mandatory.

Limits: you can set from 0 to, at most, 8 decimals. The latter corresponds to the minimum of 0.00000001 tokens.

FEE

Define the fee related to issuing the asset. To avoid spam on the Asset Exchange, 1000 BURST are the minimum required to issue an asset.

Mandatory: this field is mandatory.

PASSPHRASE

The asset belongs to the person issuing it. Therefore it is required to enter your own passphrase. It will not be broadcasted.

Mandatory: this field is mandatory.

Note: assets belong to the person that creates them, but they can be bought, sold and transfered.