Learning this one thing won’t make me stronger overnight, but it can help me avoid a few rookie mistakes.
Today’s topic: the Ethereum ERC-20 standard
Many DeFi protocols’ governance tokens are ERC-20 tokens, such as Uniswap’s $UNI .
Don’t send tokens directly to the contract address of the token itself. Most contracts like this don’t have a way to send tokens out, so once you send them there, you often can’t get them back.
ERC-20 tokens are issued on Ethereum, and you need $ETH to pay gas fees for transfers. Currently 2409.73.
Today’s topic: the Ethereum ERC-20 standard
Many DeFi protocols’ governance tokens are ERC-20 tokens, such as Uniswap’s $UNI .
Don’t send tokens directly to the contract address of the token itself. Most contracts like this don’t have a way to send tokens out, so once you send them there, you often can’t get them back.
ERC-20 tokens are issued on Ethereum, and you need $ETH to pay gas fees for transfers. Currently 2409.73.