Crypto Basics | What exactly does ERC-20 specify?
Governance tokens for many DeFi protocols are ERC-20 tokens, such as Uniswap's $UNI .
The benefit of a unified standard is composability: wallets, exchanges, and DeFi apps all use the same interface to interact with tokens, so new tokens can be integrated as soon as they launch.
ERC-20 tokens are issued on Ethereum, and each transfer requires $ETH to pay gas. Currently 2244.87.
Markets always hold surprises, so decide in advance what you'll do if you're wrong.
Governance tokens for many DeFi protocols are ERC-20 tokens, such as Uniswap's $UNI .
The benefit of a unified standard is composability: wallets, exchanges, and DeFi apps all use the same interface to interact with tokens, so new tokens can be integrated as soon as they launch.
ERC-20 tokens are issued on Ethereum, and each transfer requires $ETH to pay gas. Currently 2244.87.
Markets always hold surprises, so decide in advance what you'll do if you're wrong.