Hello! 👋🏻 In this post, we will tell you about the ERC-20 standard and its benefits for Totem.

ERC-20 is an extremely popular token standard. It is an Ethereum-based asset and all transactions involving these tokens can be viewed in the Ethereum explorer.

One of the advantages of ERC-20 is the convenience of creating tokenized assets based on it. It obeys a strict set of rules, so the development of a token takes very little time.

Many popular tokens have been created on the ERC-20 platform, including large project tokens that are very popular in the blockchain. For example, the DAO token is a typical ERC-20, just like USDT.

ERC-20 benefits for Totem

✅ The Totem platform token is built on this very standard. This opens up many possibilities for the platform and also allows for many DeFi and DAO features such as a voting system.

✅ Thus, Totem uses the common ERC-20 standard on the Ethereum blockchain to issue their own TOT asset. This significantly speeds up the development process, and also allows many popular solutions to be applied on our platform.

📢 Find out more on our website: https://totprotocol.com/