The LEP100 is a novel standard for multi-tokens, allowing for a single contract to represent multiple fungible (currency) and non-fungible tokens (NFT) and batched Operations for increased gas efficiency proposed by Joel Kasr, creator of Lithosphere. Most importantly, LEP100 tokens can exchange for any other token equivalents. LEP100 Tokens are fueled using Litho Coin (LITHO).
LEP100 is a Lithosphere token standard that extends Ethereum's ERC-20, BSC's BEP20, and ERC1155 standards. LEP100 defines a framework and a set of rules that Lithosphere-based tokens have to follow. LEP100 is fully compatible with ERC-20, ERC-721, ERC-1155, and Binance Smart Chain's BEP-2, BEP-20 as well as other similar token standards.
The LEP100 token standard applies to all kinds of tokens that will launch on the Lithosphere platform, such as tokenized securities, stablecoins, or even NFT.
Pegged Coins, which are LEP100 tokens pegged to other crypto assets such as BTC and LINK, also follow the LEP100 token standard.
The transaction fees for all the LEP100 tokens are paid with LITHO, the native token of The Lithosphere network. This working principle is part of the pos consensus rules. It provides an incentive to the validators as they amass transaction fees for the blocks, they validate on the Lithosphere network.
Since Lithosphere supports cross-chain interoperability with several existing Chains like EVM, BSC, etc., LEP100 tokens can be used on EVM, BSC, or other Blockchains for fast trading on lithoswap DEX.
Creating your LEP100 token is relatively straightforward, even if you don't have any Prior programming experience. The Litho Launchpad provides an intuitive user interface For creating your LEP100 tokens. You need to provide the name of your token, a Symbol, and a few other parameters to successfully create your LEP100 token.
Let's summarily discuss these parameters for a better understanding of the LEP100 Token standard.
○ Fungible & Non-Fungible: Can represent both fungible assets, e.g., currency, or Non-fungible Assets like art, collectibles, music, etc.
○ Time Slicing: LEP100 is a time-slicing token standard on the Litho blockchain. It's Superior to ERC20 tokens in that it supports time slicing. Time slicing adds start Time and end time attributes. Only the tokens whose current time is within the start Time and end time are valid.
○ Cross-chain: Can be exchanged with ERC20, ERC-721, ERC-1155, BEP2, BEP20, or any similar token equivalents allowing interoperability within networks.
○ Can Burn: This parameter describes whether the LEP100 tokens can be burned To reduce the supply over time, making it deflationary.
○ Can Mint: This parameter is anonymous to Can Burn, and it specifies whether New LEP100 tokens can be minted to expand the supply over time, making it Inflationary.
○ Can Pause: This parameter is important in case of a malicious attack or software Vulnerability. It describes whether all the operations associated with your tokens Can be paused when needed. Only the generator of a token or an address with Necessary permission can pause all the operations.
○ Blacklist: This parameter is analogous to Can Pause. It gives you the ability to Blocklist specific addresses that are acting maliciously. These variables give a lot Of control to the central authority (the producer), so they won't be suitable for Many use cases.
Once all the parameters are described and the token is generated, you will have sole Possession of the token, and it will be dispensed to your stated address. The smart Contract for the coin will be impulsively published to Lithosphere, and you only need to Pay the required transaction fees.