Trading Litecoin Ordinal Inscriptions on Ethereum: A Step-by-Step Guide using Emblem Vault for NFT Trading

This guide aims to offer you clear instructions on how to trade Litecoin Ordinal Inscriptions on the Ethereum network through Emblem Vault. Following these steps will allow you to engage in NFT trading on popular marketplaces like OpenSea.io and LooksRare.org. Additionally, this guide will also show you how to access the vault and restore the Inscriptions to the core ord wallet. (For this guide, it is assumed that you are familiar with working with the ord client. (https://github.com/ynohtna92/ord-litecoin)

How to trade Litecoin Ordinal Inscriptions on the Ethereum network through Emblem Vault

  • To vault an NFT with Emblem Vault, you need to use a service token called COVAL during the process of creating a vault. The cost for each vault is 250 COVAL. To obtain COVAL tokens, you can switch over to Uniswap (https://app.uniswap.org/#/swap?outputCurrency=0x3d658390460295fb963f54dc0899cfb1c30776df) and make a purchase. The process for purchasing COVAL tokens on Uniswap with Metamask is self-explanatory, so we will not be covering it in this guide.

  • To get started, access https://emblem.finance/create and sign in with your Metamask account that holds some ETH and COVAL tokens. Your present COVAL balance will be displayed on the top right-hand side of the page.

  • By default, the vault is minted to the address connected to the page. If you want to send the vault to a different address, it can be specified in the "Vault Owner Address" field. Then click "Next".
  • In the next step, a name and description must be provided for the vault that is to be created. For the name, you should follow a consistent pattern, such as

NFT NAME - INSCRIPTION ID

We are using Litecoin Glitch Ordinal (Lavender Rose) - Inscription #668.

The description could include the following content:
This Emblem Vault contains the private keys to a Litecoin wallet which holds Ordinal Inscription #668.

This Inscription is part of the Litecoin Glitch Ordinals project. All of the Litecoin Glitch Ordinals are sub 1k Inscriptions on Litecoin Ordinals, from Inscription #668 to #865.

You can validate that this vault contains the Inscription by looking at the address of the Inscription on any Litecoin Ordinal explorer and validating that it matches the address of the LTC wallet for this Emblem Vault.

Inscription ID: 9278bd914fdc07f866fc4b4e402c87a0aa04666cfc9f0c9dde6ead58b17abcf7i0

  • In this step, an image for the vault is selected. It is recommended to use the image of what the vault is supposed to hold. Click „Create Vault“ to go to the next step.
  • Now an overview of the information stored for the vault will be displayed and "Mint Vault" must be clicked.
  • Metamask opens and the first transaction confirms that the service token COVAL can be used. The second transaction is signed to create the vault.
  • After the transaction was confirmed by the network, the vault was created and should be empty with no content in the wallet.

  • In this step, we fund the vault. First, we send a minimal amount of Litecoin to the wallet. The amount can be later used by the vault owner to resend the Inscription in case  the vault has been cracked. I recommend a amount of 50,000 Litecoin satoshi. To do this, we click on the LTC button of our vault, copy the Litecoin address, and send the amount from any wallet to the vault. You can do this directly through the ord-litecoin client or use another wallet or service like (https://simpleswap.io). In our example, we use the ord client with the command ord --wallet litecoin wallet send LRJhACtAghhHrVmJJzAPKf9tKjCML9SsmS 50000sats --fee-rate 2.

  • We copy the Litecoin address from the vault again and send the Inscription from the ord client to the vault. ord --wallet litecoin wallet send LRJhACtAghhHrVmJJzAPKf9tKjCML9SsmS de2e4a927f338995dba14a0a4025d217d915f7cc8950439152047bfadf287ef3i0 --fee-rate 2
  • After this transaction was confirmed, we successfully filled the vault with Litecoins and the Litecoin Ordinal Inscription. To ensure that the metadata from the vault is displayed correctly on the marketplaces, we now need to update the metadata first on LooksRare and then on OpenSea. To do this, we open the links to the marketplaces directly from the emblem vault using the provided buttons.
  • After renewing the metadata, the vault should no longer be displayed as empty.
  • In this step, we will now verify that the vault actually holds the Inscription. To do this, we copy the ordinal ID, in this case "de2e4a927f338995dba14a0a4025d217d915f7cc8950439152047bfadf287ef3i0", to an official Litecoin ordinal explorer (https://litecoin.earlyordies.com/inscription/de2e4a927f338995dba14a0a4025d217d915f7cc8950439152047bfadf287ef3i0). This step can be done with other Inscriptions as well to validate that they are truly held in the vaults. If the address of the Inscription matches the address of the vault, it means that the Inscription has been successfully transferred to the vault.

How to crack an existing vault and import the wallet back into the ord client

  • Metamask will open and confirming the opening of the vault requires a transaction.

  • After the transaction is confirmed by the network, a new button "Get Keys" appears, which we now click.

  • Now, it needs to be confirmed with a signature from Metamask that the keys should be displayed.

  • A popup window appears, and it shows us all the private keys of the vault. What we need here is the private key of our LTC wallet and the mnemonic phrase.

  • The next step we will take is to restore the wallet using our ord client and the 12-word mnemonic phrase. ordl --wallet testrestore wallet restore "owner together pattern drink few viable before pool trend candy hammer silly“. The „testrestore“ is the name of the wallet we create out of the mnemonic phrase. If we then check the balance and Inscriptions of the wallet, we unfortunately have to find that they are still missing.
  • We now switch to our CLI of the Litecoin wallet and ensure that the blocks will be rescanned in which the LTC address of the vault received the Inscription. We restart our Litecoin client and go to our litecoin-cli input and load our restored wallet. ./litecoin-cli loadwallet testrestore
  • If we now load the information of the wallet, we see that the wallet still has an empty balance. ./litecoin-cli getwalletinfo
  • Since the Litecoin client is not yet aware of the addresses and the transactions in the wallet, we need to perform a complete rescan. We import the private key of our Litecoin wallet address from step 6, which starts the process. ./litecoin-cli importprivkey "T36WTwVQCMVoxSC6p6MydFnkENTtBsjy8KxBcCbV9DAD67u6GFFF" If you switch to another terminal and check the wallet information again, you will be able to see that the wallet is currently rescanning.
  • Now, we will use a little trick to shorten the waiting time of 2 to 3 hours that the scan would normally take to just a few seconds. We stop the rescan by restarting the Litecoin client again.

  • We copy the LTC address of the vault and search for it in a Litecoin block explorer (https://chainz.cryptoid.info/ltc/address.dws?LUcKk8NkcCHJUhyM3nw54uBFbBeE6Nf4Sq.htm). Here, we can determine the blocks in which the vault was loaded with LTC and the Ordinal Inscription. In our case, it is block 2428962.

  • Now, we go back to our Litecoin CLI and scan only a range in which our block/blocks are present. ./litecoin-cli rescanblockchain 2428950 2428970. If we now query the wallet information again, we see that the wallet finally shows a balance. „./litecoin-cli getwalletinfo“
  • Now, we go back to our ord client and perform the step to query the balance and Inscriptions again, and we see that we have successfully gained access and can send the Inscription again.
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