Generally, Many budding startups venture into the crypto platform to reap huge profits, and they find interest to create Crypto tokens which is one of the best blockchain business ideas. As a fact, Ethereum is one of the most popular and secured blockchains in the crypto marketplace for creating crypto tokens. Ethereum blockchain supports several Token standards, Among them, the ERC20 token standard is the prominent one preferred by startups for their business.
ERC20 is a fungible token that can be traded effectively on crypto exchanges and crowdfunding platforms. It has three main functions Such as mintable, pausable, and burnable. Out of these, the Mintable function reaches a new peak in the marketplace. The Mintable ERC20 token is a token with a non-fixed total supply, it allows the token owner to mint tokens whenever they require and also adds a disabled Minting method that can stop the minting process irreversibly. So this helps the startups to increase their token supply. That is why it is getting more popular and in demand in the crypto industry.
Benefits of Mintable ERC20 tokens
1. It has a Secure smart contract
2. Because of its popularity, it helps startups to raise funds quickly by Creating ERC20 tokens
3. Cost-effective
4. Mintable ERC20 tokens are used for various purposes such as credit, coupons, or discounts.
5. You can create allowed access to content/locations
6. Faster transactions
The Mintable ERC20 Tokens satisfies all the requirement that a business person, so there is a huge demand for creating a Mintable ERC20 Token for business. In addition to this, I will give you some examples of mintable ERC20 Projects that reached greater heights in the crypto industry.
1. Status (SNT)
It is a Decentralized utility token. Here the mintable ERC20 token is used for pop-up notifications in messaging Apps. Also, It will help to manage user-generated content on the network.
2. Dai (DAI)
DAI is a USD-backed stablecoin used in the MakerDAO system. If it is locked in a collateralized Debt Position, then the new DAI token will be minted easily by the MakerDAO contract.
3. Decentraland
It is a kind of virtual platform and it is developed based on the Ethereum network. It has two types of tokens for global users such as MANA and LAND. Among them, MANA is a mintable ERC20 and a burnable ERC20 token.
Now, you might have got some idea about Mintable ERC20 tokens. If you also wish to create and Wanna Know How to create Mintable ERC20 Token, here is the blog exclusively for you >>> Create Mintable ERC20 Token
