After looking more into this I'm now understanding how stellar works... but I'm not understanding how I can get my SPICE to be tokenized/wrapped and issued to my XLM address... ? Because from what I'm seeing here there is no way for this to happen without me sending my SPICE to whoever owns the issuing account and then they issue me the XLM token?
Yes that is how it is done. I have set up a /.well-known/stellar.toml file on my Makemoney domain that theoretically is read by clients to get info about the assets issued from that domain, but I do not know whether it is actually working, my client does not seem to use it. But in theory clients should be able to find out from there that the instructions for bailing-in and bailing-out coins say to contact user "knotwork" on Keybase, that is me.
I do not run an automated site for bailing-in and bailing-out coins for two reasons:
One, the free open-source code available for doing that claims to not be ready for production use; and
Two, the code simply creates new tokens as it receives coins, and vanishes (send back to issuer) tokens when it bails them back out to on-blockchain coins again, which is not how I like to operate.
I consider it a bit flimsy to just automatically assume you really got the coins the code thinks it received and issue tokens based on the code's imagining it securely received the coins. My approach is, rather, to create tokens in advance, and to only create tokens representing HALF of my coins, so that I can still have the other half of my coins available to "buy back" my tokens without having to go dig up from cold storage the coins I actually "tokenised" aka "wrapped". That way my wrapped coins can in principle be stashed ridiculously securely, in ways that could take weeks or months or more to dig back up out of frozen storage, because I will never need them until I cease supporting that coin; as long as I still expect to ever need tokens of that coin again I can simply "buy back" my tokens using the other half of my coins, ready to hand them out again next time someone wants to "bail in" some of the actual coins.
This also means though that the number of tokens is a bottleneck of my system. If you want to "bail in" more coins than I have tokens for we need to come up with some deal whereby I get enough of the coin from you to only need to create tokens representing HALF of them; the other half you'd use to buy something else from me, so that when I issue the new tokens I can keep on hand as many coins as I made tokens for PLUS the coins the tokens are actually based on.
That way frees me to use ridiculously complicated ways of "freezing" the tokenised coins, such as breaking up the keys into "X of N" parts distributed among N number of safety deposit boxes distributed around the world, or bury them under concrete under a swimming pool in my backyard, or anything, without needing to worry about how to ever dig them back up again "in a hurry" since they will never be needed again until my heirs-and-assigns decide to shut down the whole tokenising concept never needing tokens of that coin again.
So, contact me (knotwork) on keybase, or I suppose if not concerned about privacy you could even use direct messaging here though keybase is probably better.
-MarkM-
