Token monotony in crypto has helped to build a foundation for the whole digital ledger technology as we know it.
Smart contracts like Ethereum and Binance Smart Chain (BSC) allow you to build and launch your decentralized application (DApps). Each dApp comes with a quantity of value, and a tradable asset called a "token," used to provide a value or perform certain social; and governance-related activities.
These tokens tread the hills of the specific framework called a TOKEN STANDARD, a set of rules and guidelines incorporated into the smart contracts. If a token doesn't yield and comply with the desired token standard, it won't be compatible and won't interact with the ecosystem applications, such as wallets and exchanges.
Every blockchain platform has its category of token standards that smart contracts have to adhere to. You might be well accustomed to ERC-20 tokens; these are the Ethereum-based tokens that the ERC-20 token standard acts. Likewise, Binance Smart Chain (BSC) comes with a token standard called BEP-20, which has to be followed by every BEP-20 token released on the Binance Smart Chain space.
The Lithosphere network introduces a new token standard - LEP100 inspired by previous ERC20, ERC1155, BEP20, etc.