Get 50% off on BlockChain Development. Hurry up, the offer will expire anytime soon!Defi Token Development
DeFi tokens represents the value of asset by its type on decentralized platforms. However, these tokens can be put into multiple uses like crowdfunding or purchasing digital assets. blockchainRabbit is a DeFi token development company and we possess our key expertise in developing various DeFi tokens.
Â
Some DeFi tokens that exist in the market:
ERC-20: ERC-20 tokens are technical standards of Ethereum that defines the protocols of how the transactions are transferred and validated. Moreover, it tells about the total supply of tokens. Developers use ERC-20 for creating new tokens and tokenizing physical assets.
ERC-721: ERC-721 is a token standard of Ethereum represnents NFTs’. Users use this to represent physical asset and for digital art. However, it can also use to take ownership of a digital asset.Â
ERC-777: ERC-777 token is an upgradation of ERC-20 which resolves its issues. It allows to block transactions from blacklisted addresses. They uses a process called Hooks to transfer and receive tokens by smart contracts.Â
ERC-1155: ERC-1155 is used to overcome the issues of ERC-721. It allows for batch transfer of NFTs. By bundling multiple assets in single smart contract, it reduces the per transaction cost to that NFT and avoids the problem of network congestion.Â
Â
Applications of DeFi Token Development:
Security Tokens: DeFi tokens uses the blockchain platforms and these Security tokens represent verified ownership over the asset using the digital security of blockchain.
Equity Tokens: Equity tokens are used to represent the percentage of hold in stocks or funds. These tokens can be used well on crowdfunding platforms and can be used by investors to approach for multiple investments.Â
Utility Tokens: Utility tokens allows investors to raise funds for startups or helps in capitalization. However, these tokens allows users to access a company’s service in future but it can not be considered as an investment.
Governance Tokens: Governance token is a cryptocurrency token that offers a user right to vote on a particular change happens on a blockchain network. This may include spending tokens in order to make some changes in the current proposal.
