The ELUX standard does share many characteristics with ELUX protocols, such as defining the total supply and balance, the divisibility standard and transferability requirements. Transfers between ELUX tokens are facilitated by ELUX, the native Elucks coin and the validation processors of ESC are rewarded in ELUX, the same way gas fees are paid on Elucks.
The ELUX token standard is flexible and programmer-friendly, allowing for all kinds of fungible tokens to be created. Like those created using the ELUX standard, ELUX tokens can be pegged to another crypto or fiat, represent tokenised securities or be used to issue stablecoins. The standard used by ELUX tokens means that any ELUX token is fully compatible with all ELUX and ELUX tokens across the Elucks and Elucks blockchains.
