CoinFactory
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  • Getting started
    • Welcome👋
    • Wallet
      • Laptop/Computer
        • Connect wallet
          • EVM networks
          • Sepolia Testnet
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          • Solana Devnet
            • Phantom Wallet
            • Solflare
          • Ton
        • Change wallet
        • Transaction history
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      • Mobile
        • Connect wallet
          • Solana Mainnet
          • Solana Devnet
            • Phantom Wallet
            • Solflare
        • Change wallet
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  • Tools
    • For EVM Networks
      • Token Generator
      • Mint Tokens
      • Burn Tokens
      • Revoke Ownership
      • Token Multisender
    • For Solana Network
      • Token Generator
        • Solana Mainnet
        • Solana Devnet
      • Token Multisender
      • Revoke Freeze Authority
      • Revoke Mint Authority
      • Update Token Metadata
      • Create OpenBook Market
      • Make Immutable
      • Create Token Page
      • Mint Tokens
      • Burn Tokens
      • Create Liquidity Pool
      • Manage Liquidity
        • Add Liquidity
        • Remove Liquidity
      • Freeze Accounts
      • Unfreeze Accounts
    • For TON Network
      • Jetton Generator
      • Revoke Ownership
      • Mint Tokens
      • Mint Tokens
      • Mint Tokens
      • Jetton Multisender
    • Create a Token Page
    • Social Media Boost
      • Twitter
        • Buy Followers
        • Buy Likes
        • Buy Retweets
        • Buy Views
      • Telegram
        • Buy Subscribers
        • Buy Reactions
        • Page Views
      • YouTube
        • Buy Subscribers
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      • Instagram
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    • Token Generator
    • Token Profile Page
    • Bulk Sender
  • Resources
    • Official Links
    • FAQs
      • What is CoinFactory?
      • What is an ERC-20 Token?
      • How can I generate my own ERC20 token step by step?
      • How much does it cost to create ERC20 tokens?
      • Why create an ERC20 token?
      • What is a Fixed Supply Token?
      • What are Mintable and Burnable Tokens?
      • Who possesses the authority to Mint or Burn my tokens?
    • Privacy Policy
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  1. Resources
  2. FAQs

Why create an ERC20 token?

The ERC20 standard is the most widely used standard among all. These are the tokens we use every day (USDT, WETH, PEPE, FLOKI etc).

They have a wide range of applications, including the following use cases:

  • Tokenization of assets: Tokens enable the representation of physical or digital assets, such as stocks or currency, in digital form on the blockchain.

  • Fundraising: Projects can attract investments and funding by issuing their tokens and offering them to investors.

  • Loyalty and rewards: Companies can create their tokens to incentivize customers and users.

  • Meme coins: Tokens associated with internet memes can be used for jokes and entertainment.

  • DApps: Tokens provide the necessary liquidity and functionality for decentralized ecosystems, including payment for services, stimulating user activity, and participation in voting.

Last updated 1 year ago