SwapBot Vending for Operators

7/23/2019 SwapBot Vending for Operators

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Configuring Your FirstSwapbot Vending Machine

SECTION 1 - BASIC INFORMATION

SECTION 2 - BRANDING AND CUSTOMIZATION

SECTION 3 - SELLING SWAPS

SECTION 4 - PURCHASING SWAPS

SECTION 5 - BULK DISCOUNT PROGRAMSSECTION 6 - INCOME FORWARDING

SECTION 7 - OTHER SETTINGS

SECTION 8 - BLACK LISTS AND WHITE LISTS

SECTION 9 - ACTIVATING & FUELING YOUR BOT

Whatever you do for a living, Whether you charge by the hour, the item, by project, or per

line of code, you can within a few minutes and for less than a dollar create a customized

digital token, on the bitcoin blockchain which you control, issue at will and which allows

you to know with %100 certainty that anyone who has your token must have gotten it from

you or someone you first gave it to because otherwise it could not exist.

This token youve created has rules you set defining what value you will provide when

presented with it and under what conditions it may be presented to you. It can then be

priced as you see fit and loaded into an automated digital vending machine allowing

anyone in the world with bitcoin or other valuable tokens to buy pre-paid units of your

work, which may be given to a friend, swapped or saved as the purchaser sees fit and


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eventually redeemed on your website in place of other payment and in compliance with

the rules of the token.

If your own branded Token sounds like it could be useful to your purposes, this guide is

for you.

To get started, visit https://swapbot.tokenly.com

and log in or register.

Click Create a new Swapbot

SECTION 1 - BASIC INFORMATION

Name, URL & Vending Machine Description
https://swapbot.tokenly.com/


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Pick a name

for your Swapbot (Less than 26 Characters). This name will show up very

prominently on the Bots page and users may search for Bots by name among other

things.

The

URL-Slug

will automatically populate based on the name you pick. You can

customize it should you desire.


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Bot Description is your opportunity to speak directly to the potential user of your vending

machine. Tell them about the tokens youre selling, what the details are and provide

useful links to help them find their way around your project.

You can add bold, italic or links to your text with Markdown formatting. Heres a

Cheat-Sheet


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Bold:

Text can be **bolded** by surrounding it with asterisks*

Will appear on your bots front page as

Text can be bolded by surrounding it with asterisks*

Italics

__Italicized Text__ can be mixed with __**Bold to make Italicized Bold**__

Will appear on your bots front page as

Italicized Textcan be mixed with Bold to make Italicized Bold

Adding Links

[Enclose linked text in brackets](http://www.thelinkgoeshere.com)

Will appear on your bots front page asEnclose linked text in brackets

Embedding an Image

![]()

![

Leave This Empty](

http://i.imgur.com/qoMKIQ2.jpg

)

Will appear on the bots front page as

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http://www.thelinkgoeshere.com/


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SECTION 2 - BRANDING AND CUSTOMIZATION

Custom Background Image, Background Overlay & Custom Logo Image

You can visually customize and brand your vending machine in several ways:

1. You may upload a high quality 1440x720 background image which will go

underneath the Bots information. Keep in mind the middle of the image will mostly

be obscured by the Bots interface. This image should be dark enough for the white

text to show up, or youll need to use the...2. Background Overlay, which allows you to select a color and strength to tint your

background image. This is optional but your bots information will not show up well

on a lightly colored image in the center. If you use a light image, make sure to use

a Background Overlay.

3. You may also upload a high quality Custom Logo Image(Must be square, at least

100x100). This logo will show up to the upper right of your bots front page.

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SECTION 3 - SELLING SWAPS

A Selling Swap is a swap where your vending machine is selling a token to customers.

There are three types of swaps. Lets go over all three.

1. By Price

This type of swap allows your customers to order your token in any increment; you

might buy 1000 LTBCOIN or .00001 LTBCOIN. Use this for tokens like SJCX,

LTBCOIN, BTC or other tokens where your users dont care about buying exactly 1

a. Token to Sell- Enter the full, uppercase token name of what your vending

machine will be selling. Do not use trading contractions; BITCRYSTALS

rather than the short name BCY

b. Asset to Receive- Enter the full, uppercase token name of what your

customer will be depositing and you will be accepting as payment

c. Price- Enter how much Asset to Receivea customer must deposit to

receive one (1) Token to Sell

d. Minimum Sale - This is optional, set the smallest amount of Asset to

Receive

that youd like the vending machine to accept as an order.

Customers trying to order less will not be allowed to order and any

customer deposits below this minimum will be refunded.

Looking at the above example, this swap will cause the vending machine to vend 1

TOKENLY for every 1000 LTBCOIN a customer deposits. The smallest order a

customer can place is one worth 500 LTBCOIN or .5 TOKENLY.

A customer who deposits 17,203 LTBCOIN would receive back 17.203 TOKENLY


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2. By Fixed Amount

If youre selling redeemable, collectable cards or access tokens, youll probably

want to use this type of Swap. You will set exactly how much of what token a

customer needs to send your bot, and youll set exactly what the bot will send

back. Customers attempting to purchase non-standard amounts will be stoppedand prompted to make a compatible swap.

a. Token to Sell - Enter the full, uppercase token name of what your vending



b. Amount to Sell

- This is the amount of Token to Sellthat the bot will send

when it receives the Amount to Receive of the Asset to Receive

c. Asset to Receive - Enter the full, uppercase token name of what your

customer will be depositing and you will be accepting as payment

d. Amount to Receive

- This is the amount that the bot will must receive totrigger vending of the Amount to Sellof the Token to Sell


TOKENLY for every 100 SJCX a customer deposits. The smallest order a customer can

place is one worth 100SJCX worth 1 TOKENLY.

A customer who deposits 1,723 SJCX would receive back 17 TOKENLY and would

either keep the change or require a manual refund by a Tokenly Administrator

Customers are warned when placing their order so the need for refunds has been

very minimal. Please contact

[email protected]

with any

issues you encounter.
mailto:[email protected]


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3. By USD price in BTC

In many cases youll want to price your token in US dollar terms. This type of swap

allows you to set a fixed dollar price which will then be translated into a BTC price

which your customer will be asked to pay. Because the price of BTC is constantly

changing, your vending machine will ask the customer to send a small amount ofextra BTC to cover differences in the exchange rate. The second their transaction

is seen on the network the vending machine locks in their price and refunds the

change at the same time it sends the customer their purchased tokens.


machine will be selling. Do not use trading contractions, BITCRYSTALS


b. Receives

- This is the token your customer will pay in. Currently only BTC

may be pegged to dollar prices.

c. Price - Set a price in US Dollars. 5 would mean 5 dollars.d. Minimum Sale- This is the least Token to Sellthat can be purchased

without triggering a refund

e. Divisible?

- If youd like your customers to be able to order partial tokens,

select Yes. If your customers should only be able to purchase whole

tokens, select No.

Looking at the above example, this swap will cause the vending machine to vend 1TOKENLY for every $5 worth of bitcoin a customer deposits, with the exact amount of

BTC determined at the time the order is placed. The smallest order a customer can place

is one worth $5 of bitcoin or 1 TOKENLY.

A customer who deposits $17 worth of bitcoin would receive back 3 TOKENLY plus 2

dollars worth of change if Divisible is set to No or 3.4 TOKENLY and no BTC change if set

to yes

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SECTION 4 - PURCHASING SWAPS

Depending on what kind of tokens youre swapping, a customer might feel like they are

buying a token from your vending machine, or selling a token to your vending machine.

Purchasing Swaps allow users to easily sell tokens to your vending machine, with the bot

telling the customer how many tokens the bot can afford to buy.

There are two types of Purchasing Swaps

1. By Price

This type of swap allows your customers to sell you tokens in any increment, you

might buy 1000 LTBCOIN or .00001 LTBCOIN. Use this for tokens like SJCX,

LTBCOIN, BTC or other tokens where your users dont care about buying exactly 1

f. Token to Buy- Enter the full, uppercase token name of what your vending


rather than the short name BCYg. Asset to Pay

- Enter the full, uppercase token name of what your customer

will be depositing and you will be accepting as payment

h. Purchase Price - Enter how much Token to Buy a customer must deposit to

receive one (1) Asset to Pay

i. Minimum Purchase - This is optional, set the smallest amount of Token to

Buy

that youd like the vending machine to accept as an order. Customers

trying to sell less will not be allowed to order and any customer deposits

below this minimum will be refunded.

Looking at the above example, this swap will cause the vending machine to vend

1000 LTBCOIN for every 1 TOKENLY a customer deposits. The smallest amount of

LTBCOIN a customer can sell the bot is 500 LTBCOIN or .5 TOKENLY.


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A customer who deposits 17.203 TOKENLY would receive back 17,203 LTBCOIN

4. By Fixed Amount

If youre buying redeemable or access tokens, youll probably want to use this type

of Swap. Youll set exactly how much of what token a customer needs to send

your bot, and youll set exactly what the bot will send back. Customers attemptingto purchase non-standard amounts will be stopped and prompted to make a

compatible swap.




b. Amount to Sell - This is the amount of Token to Sellthat the bot will send

when it receives the Amount to Receive of the Asset to Receive

c. Asset to Receive - Enter the full, uppercase token name of what your

customer will be depositing and you will be accepting as paymentd. Amount to Receive

- This is the amount that the bot will must receive to

trigger vending of the Amount to Sellof the Token to Sell


TOKENLY for every 1000 LTBCOIN a customer deposits. The smallest order a customer

can place is one worth 1000 LTBCOIN worth 1 TOKENLY.

A customer who deposits 17203 LTBCOIN would receive back 17 TOKENLY and

the vending machine would either keep the change or require a manual refund by

a Tokenly Administrator

Customers are warned when placing their order so the need for refunds has been

very minimal, please contact

[email protected] with any

issues you encounter.

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mailto:[email protected]


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SECTION 5 - BULK DISCOUNT PROGRAMS

Selling your product or service as a redeemable token allows anyone to purchase your

offering and then sell it to other interested customers. Redeemable tokens allow a

customer to purchase more than they might immediately need because they get adiscount for purchasing more at a time and may redeem them with the merchant over

time as needed.

Operator-Configurable Bulk Discount Programs are available on all Swapbots, to create

one simply click Add An Advanced Swap Rule and select Bulk Discount

In the above Bulk Discount Program example, a user who buys 2 tokens in a single order

will receive a 5% discount off the standard price on each. If a user purchases 9, they will

receive a 10% discount. 18 will grant a 15% discount and 50 will grant a 25% discount. You

may set your discount program as you see fit and it may have as many different tiers as

your designs require.


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Applying your Bulk Discount Program to Your Swaps

Once youve created your first Bulk Discount Program, your swaps will show it as an

option you may apply to any Selling Swap (Not available at this time on Purchasing

Swaps).

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SECTION 6 - INCOME FORWARDING

Swapbot vending machines hold for-sale inventory & valuable tokens customers pay to it

in a single bot controlled bitcoin address. They are not designed to be safe stores of therevenue you generate from your vending machine. Operators must configure Income

Forwarding Rules which instruct the bot under what conditions to forward accumulated

tokens and to where.

If you are selling BLACKHATS for BTC, LTBCOIN and SJCX, you should not have an

income forwarding rule for BLACKHATS, but you should for every valuable token you

receive

Asset Received

indicates what token will be forwarded

Trigger Threshold

is the amount of the Asset Receivedthe bot must possess to activate

income forwarding

Payment Amount is the amount of Asset Received the bot will forward when the Trigger

Threshold is met or exceeded

Payment Address is the bitcoin address the operator wishes the Payment Amountbe

sent to.

Forwarding bitcoin (things to keep in mind)

Each time your vending machine makes a sale it uses a very small amount of Bitcoin to do

it. 01BTC represents about 70 vending machine sales worth of miners fee. When


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forwarding BTC (bitcoin), always leave .01BTC. If your vending machine has less than

.00016BTC it will be out of fuel and require your attention.

Customers purchasing tokens and paying with BTC will allow you to never refuel your bot,

so long as you remember not to empty it of BTC when income forwarding.

Forwarding Buying-Tokens (things to keep in mind)

Lets say my bot sells TOKENLY for 2000 LTBCOIN but it also is willing to buy TOKENLY

for 1,000 LTBCOIN each. When my bot has enough LTBCOIN for me to want to forward

the income to an address I control, I need to be careful to leave enough in the vending

machine so it can keep buying TOKENLY and paying LTBCOIN. In the above example,

whenever LTBCOIN forwards it leaves enough in the vending machine to pay for 200

TOKENLY before running out.

Forwarding Valuable Tokens

Outside of the two above examples, valuable tokens should be completely removed fromthe bot to an address you control. Each income forwarding costs about 3 US cents worth

of bitcoin so while you do not have to wait until you have a week's worth of revenue to

forward, you also want to have it set high enough that its not forwarding after every small

transaction.

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SECTION 7 - OTHER SETTINGS

Almost done! You can pretty safely ignore these unless you have a good reason for

changing them.

Confirmations is the number of bitcoin network confirmations the Vending Machine must

see before it considers the Deposit a valid order. It takes about 10 minutes per

confirmation so more means a longer delivery time for the tokens you are selling.

If you are selling something very valuable you might want to increase to as many as six

confirmations. The vast majority of users should leave this at two.

Return Transaction Fee

This is the amount of BTC miner fee that the vending machine will use when it sends

tokens to a customer. Lowering this can result in very long delivery times, increasing it

can result in shorter delivery times during periods of high activity or spam attacks on the

bitcoin network. The vast majority of users should leave this at 0.0001BTC

Refund Out of Stock Swaps After XX blocks

When a customer tries to buy something that your Bot has run out of, two things can

happen. The deposit can be refunded or the vending machine can be reloaded and the

swap will complete automatically.

If your vending machine is selling something that can be easily restocked you may wish to

increase this to allow yourself an hour or two (6 or 12 blocks) to refill the bot. If you are not

going to be able to respond quickly when your bot is out of stock, or if youre selling

something that isnt available in unlimited quantities you probably want to keep this at 3

Blocks, which will refund your customer after about thirty minutes. Only increase this if

you think your bot is likely to run out of inventory and require refills.

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SECTION 8 - BLACK LISTS AND WHITE LISTS

Blacklist

As the operator of your bot, youll want to add your addresses to the bots Blacklist. Paymentsand Tokens received from blacklisted addresses do not trigger swaps and will not be refunded.

This means you can use blacklisted addresses to fill the Swapbot with additional inventory and

BTC fuel. You can add as many blacklisted addresses to each bot as you want.

Whitelists

This is an optional feature most operators will not want to use. Under certain conditions

you might not want to let just anybody purchase from your vending machine. Operators

may add one or more Whitelisted bitcoin addresses who will be allowed to swap with

the bot. All other swaps will be refunded.

Use whitelisted addresses to create Swapbots that can only be used by specific people.


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Large Whitelists

If youve got a large or frequently changing list of allowed users, instead of entering

individual addresses you can upload and manage a .csv, give it a name and apply it to any

bot then manage it in a single place.


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A Whitelist Bot communicates its restrictions to customers

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SECTION 9 - ACTIVATING & FUELING YOUR BOT

Once youve configured and saved your bot, all thats left to do is load it with Inventory

and pay the monthly rental fee to activate it. After saving, your vending machine will look

like this

Inventory and Fuel needs to be sent to the Bots address. Make sure that your bitcoin

address is added to the Blacklist so you are not refunded. You can send as much

inventory as you want.

Near the bottom of the Bots admin page youll find the Payment Module. Note that this is

a different address from the one your Bot controls, do not send your monthly payment toanything other than your bots Payment Address.

From the two dropdown menus, select the type of payment youd like to make and for

how many months youd like to pay for now.

If you have Tokenly Pockets

installed, youll see the Pay with Pockets button and be able

to quickly complete your payment. Your payment status will tell you as soon as the

payment is detected, the payment will be applied to your account within around 30minutes.

When you first activate a bot, Tokenly sends .001BTC (Approximately 7 vends worth of

bitcoin) to your bots address as initial fuel. This may be enough if you are selling few high

value items or are being paid in bitcoin.
http://pockets.tokenly.com/


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If you do not accept bitcoin as payment or your customers pay in tokens much more than

they pay in bitcoin you will need to send more BTC to your Bots Address (not the payment

address)

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Documents

SwapBot Vending for Operators