Token standards

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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]