Difference between revisions of "Token standards"
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Latest revision as of 04:50, 25 May 2022
Each type of token has a standard. A token standard is basically a list of rules each token must follow.[1]
The common token standards used around DeFi are:
ERC-20 - A standard interface for fungible (interchangeable) tokens, like voting tokens, staking tokens or virtual currencies.[2] (examples: $USDC, $LDO)
ERC-721 - A standard interface for non-fungible tokens, like a deed for artwork or a song.[3] (examples: BAYC, CryptoPunks)
ERC-777 - A token standard improving over ERC-20.[4]
ERC-1155 - A token standard which can contain both fungible and non-fungible assets.[5]
ERC-4626 - A tokenized vault standard, used to represent interest bearing tokens (ibTKNs)[6]