Ethereum: Asset tokenization with Embark

• You’ll build a simple contract in Embark that tokenizes assets with a fixed supply of 1,000 tokens.
• You’ll set a price of 0.1 ether per token and let anyone exchange ether for asset tokens on Sepolia.
• You’ll use Chainstack to deploy and run your own Sepolia node, and Geth to manage your accounts.
• You’ll confirm everything works by testing the contract with Embark’s Cockpit and by sending ether from MetaMask.

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Main article

• Creates a total supply of 1,000 tokens specific to the asset.
• Sets the token price to 0.1 ether.
• Let anyone exchange ether for asset tokens. This tutorial uses Embark to test and deploy the contract.

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Prerequisites

• Chainstack account to deploy a Sepolia testnet node.
• Embark to test and deploy the contract.
• Geth to create an Ethereum account that will deploy the contract.
• MetaMask to interact with the contract.

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Overview

1. With Chainstack, create a public chain project.
2. With Chainstack, deploy a Sepolia testnet node.
3. With Embark, create a project and the contract.
4. With Geth, create a new account.
5. Import the account in MetaMask and fund the account with Sepolia ether.
6. With Embark, deploy the contract through the Sepolia node.
7. With Embark, check the contract with Cockpit.
8. Interact with the contract through MetaMask.

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Step-by-step

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Create a public chain project

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Deploy a Sepolia node

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Get Sepolia testnet ether from a faucet

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Create an Embark project and the contract

1. Create a new Embark project:
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   embark new asset
   

   This will create an Embark directory called asset.
2. Change to the contracts directory of the Embark project.
3. Create an AssetTokenized.sol file in the contracts directory:
   solidity

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   pragma solidity = 0.5.0;
   
   contract AssetTokenized{
   uint public supply;
   uint public pricePerEth;
   mapping( address => uint ) public balance;
   
   constructor() public {
       supply = 1000;                    // There are a total of 1000 tokens for this asset
       pricePerEth = 100000000000000000; // One token costs 0.1 ether
     }
   
     function check() public view returns(uint) {
       return balance[msg.sender];
     }
   
     function () external payable {
       balance[msg.sender] += msg.value/pricePerEth; // adds asset tokens to how much ether is sent by the investor
       supply -= msg.value/pricePerEth;              //subtracts the remaining asset tokens from the total supply
     }
   }
   

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Create an Ethereum account

1. Create the account:
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   geth account new
   

2. Check the path to the keystore file created for the new account:
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   geth account list
   

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Import the account in MetaMask and fund the account

1. In MetaMask, click Import Account > JSON File.
2. Select the keystore file that you created earlier.
3. Fund the account with Sepolia ether.

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Deploy the contract

1. In your Embark project directory, change to config.
2. Append contracts.js with the following configuration:
   JavaScript

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   chainstack: {
     deployment:{
       accounts: [
           {
             privateKeyFile:"//root/.ethereum/keystore/UTC--2019-08-01T07-24-17.754471456Z- -73236c8d8aaee5263e8a32c71171030dd7a3e8e6",
             password:"PASSWORD"
           }
       ],
       host:"YOUR_CHAINSTACK_ENDPOINT",
       port:false,
       protocol:"https",
       type:"rpc"
     },
     dappConnection: [
       "$WEB3",  // uses pre-existing Web3 object if available (e.g in Mist)
       "ws://localhost:8546",
       "<http://localhost:8545>"
     ],
     gas: "auto",
   }
   

   where
   • //root/.ethereum/keystore/... — the location of the keystore file
   • PASSWORD — the password you provided when creating the Ethereum account with Geth
   • YOUR_CHAINSTACK_ENDPOINT — your Chainstack node endpoint. See also View node access and credentials.
3. Deploy the contract with Embark:
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   embark run chainstack
   

   where chainstack — the argument from the configuration file contracts.js This will deploy the contract on Sepolia.

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Check the contract with Cockpit

• supply() — to check the remaining supply of tokens on the contract.
• check() — to check the amount of tokens owned by the Ethereum address you are using to call the contract.
• pricePerEth() — to check the token price in wei.

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Interact with the contract

1. In MetaMask, send an amount of Sepolia ether to the contract address.
2. In Cockpit, call the contract functions supply() and check() after a few seconds to see a change in values returned.

Ake

Director of Developer Experience @ Chainstack Talk to me all things Web320 years in technology | 8+ years in Web3 full time years experienceTrusted advisor helping developers navigate the complexities of blockchain infrastructure