Let’s talk about the Ethereum ERC-20 standard.
The governance tokens of many DeFi protocols are ERC-20 tokens, such as Uniswap’s $UNI .
One thing that’s easy to overlook: creating an ERC-20 token doesn’t cost much, and anyone can choose any name or ticker symbol. So, to identify a token, check its contract address—don’t rely on its name alone.
When adding a new token, verify the contract address through official channels and a block explorer. Don’t use an address someone else gives you.
ERC-20 tokens run on Ethereum, and you need $ETH to pay gas fees for transfers. Currently, 2507.48.
#ETH
I’m just sharing my thoughts; this is not investment advice.
The governance tokens of many DeFi protocols are ERC-20 tokens, such as Uniswap’s $UNI .
One thing that’s easy to overlook: creating an ERC-20 token doesn’t cost much, and anyone can choose any name or ticker symbol. So, to identify a token, check its contract address—don’t rely on its name alone.
When adding a new token, verify the contract address through official channels and a block explorer. Don’t use an address someone else gives you.
ERC-20 tokens run on Ethereum, and you need $ETH to pay gas fees for transfers. Currently, 2507.48.
#ETH
I’m just sharing my thoughts; this is not investment advice.