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Home Crypto

TRC-20 Token Functionality

by Techstory
June 21, 2024
in Crypto
Reading Time: 10 mins read
0
Photo by Arthur Mazi on Unsplash

Photo by Arthur Mazi on Unsplash

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TRC-20 tokens are a big deal on the TRON blockchain, offering a bunch of cool features that make them super useful in the world of decentralized finance (DeFi). Let’s break down what makes TRC-20 tokens tick, from how they’re created to how you can trade them.

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Smart Contract Issuance

Creating TRC-20 tokens happens through smart contracts on the TRON blockchain. Think of these smart contracts as digital agreements that let you make tokens for all sorts of things—like representing ownership, joining Decentralized Autonomous Organizations (DAOs), creating stablecoins, or making utility tokens. The TRC-20 standard makes sure these tokens follow certain rules, so they work smoothly with different apps in the TRON network.

These smart contracts are written in Solidity, the same language used for Ethereum. This means developers can easily switch between TRON and Ethereum. Once these tokens are up and running, they can be used in various DeFi apps, like lending and borrowing platforms or decentralized exchanges (DEXs).

Trading and Compatibility

TRC-20 tokens are built to be easy to trade across different DeFi apps. Because they follow the TRC-20 standard, they’re compatible with popular TRON wallets and DeFi platforms. This makes it easier to integrate TRC-20 tokens into various financial services.

Big centralized exchanges like Binance and Poloniex support TRC-20 tokens. You can trade these tokens against stablecoins like USDT or other cryptocurrencies like TRX or BTC. Having multiple trading pairs boosts liquidity and gives traders more options to manage their portfolios.

Exchange Platform Supported Trading Pairs
Binance USDT, TRX, BTC
Poloniex USDT, TRX, BTC

TRC-20 tokens also work well on decentralized exchanges (DEXs) on the TRON network. For instance, TWM (Tron Watch Market) is a token used on various DEXs, making it easy and secure to trade TRON-based tokens.

The ability to trade TRC-20 tokens on multiple platforms and their compatibility with different wallets and apps make them a versatile and valuable asset in the crypto market. This flexibility is a big reason why TRC-20 tokens are so popular and widely used.

TRC-20 vs. TRC-10

Getting a grip on the differences between TRC-20 and TRC-10 tokens is key for anyone dabbling in crypto, especially if you’re into the TRON blockchain. Each token type has its own quirks and best uses.

Token Standards Overview

TRC-20 and TRC-10 are the main token types on the TRON blockchain. They vary in how they’re made, what they can do, and how well they play with others.

Feature TRC-20 TRC-10
Issuance Smart Contracts System Contracts
Use Cases Utility Tokens, Stablecoins, Membership DApps, Rewards
Compatibility High with DeFi and Wallets Limited
Customization Flexible Less Flexible

TRC-20 Tokens:

  • Issuance: Created through smart contracts, TRC-20 tokens offer lots of customization.
  • Use Cases: These tokens are like Swiss Army knives—they can be used for ownership, membership in a DAO, stablecoins, or utility tokens.
  • Compatibility: They work well with DeFi apps and popular TRON wallets, making them easy to trade and use.

TRC-10 Tokens:

  • Issuance: Made through system contracts, TRC-10 tokens are simpler to create but less flexible.
  • Use Cases: Often used in DApps for rewards and other straightforward tasks.
  • Compatibility: Not as versatile as TRC-20 tokens, usually limited to specific TRON applications.

Use Cases and Examples

TRC-20 and TRC-10 tokens each have their own roles in the TRON ecosystem, with some well-known examples.

Token Standard Example Use Case
TRC-20 JUST (JST) Decentralized finance (DeFi)
TRC-20 APENFT (NFT) Digital art and NFTs
TRC-10 BitTorrent Token (BTT) File sharing and rewards

TRC-20 Examples:

  • JUST (JST): A big player in DeFi, helping create a stable and decentralized financial system on TRON.
  • APENFT (NFT): Supports the creation and trading of digital art and NFTs, giving artists and collectors a platform.

TRC-10 Examples:

  • BitTorrent Token (BTT): Mainly used for rewarding users in the BitTorrent ecosystem, showing how TRC-10 tokens can be useful in specific scenarios.

Knowing the ins and outs of these token standards helps crypto traders and investors make smarter choices when exploring the TRON blockchain and its popular TRC-20 tokens.

TRC-20 Token Trading

Exchange Platforms

If you’re looking to trade TRC-20 tokens, centralized exchanges like Binance and Poloniex are your go-to spots. These platforms are known for their security and ease of use, making it simple to buy, sell, and trade TRC-20 tokens.

Exchange Platform Features
Binance Tons of liquidity, loads of trading pairs, advanced tools for pros
Poloniex Easy to use, lots of crypto options, fair fees

Trading Pairs and Liquidity

TRC-20 tokens usually trade against stablecoins and other cryptos. Common pairs include USDT, TRX, and BTC, giving traders plenty of choices for getting in and out of trades.

TRC-20 Token Common Trading Pairs
Intergalactic Gold (IGG) IGG/USDT, IGG/TRX
TronWallet (TWX) TWX/USDT, TWX/TRX
JUST (JST) JST/USDT, JST/TRX
APENFT (NFT) NFT/USDT, NFT/TRX
WINkLink (WIN) WIN/USDT, WIN/TRX

Liquidity is key when trading, and TRC-20 tokens benefit from the high liquidity on these exchanges. This means you can make big trades without messing up the market price, keeping things stable.

TRC-20 tokens are also super easy to trade across different DeFi apps and work well with popular TRON wallets. This makes them a favorite for many crypto traders and investors.

Top TRC-20 Tokens

TRC-20 tokens are making waves in the crypto world, especially on the Tron network. Among these, Intergalactic Gold (IGG) and TronWallet (TWX) are the big shots, thanks to their hefty market caps and cool uses.

Intergalactic Gold (IGG)

Intergalactic Gold (IGG) is a major player in the TRC-20 token scene. It’s a gaming token on the Tron network and has a lot of room to grow, especially if it lands some sweet deals in the gaming world.

Metric Value
Market Cap $121,213.60 USD
Price per Token $0.0008817 USD
Total Supply 50 billion

Why IGG Rocks:

  • Gaming Token: IGG is mainly used in the gaming sector on the Tron network.
  • Growth Potential: Could see big gains through industry partnerships.

TronWallet (TWX)

TronWallet (TWX) is another heavyweight in the TRC-20 token arena. It’s deeply integrated into the TronWallet ecosystem, making transactions and interactions on the Tron blockchain a breeze.

Metric Value
Market Cap $126,084,554 USD
Price per Token $0.0042028 USD
Total Supply 30 billion
Circulating Supply 15 billion

Why TWX Shines:

  • Ecosystem Integration: TWX is used within the TronWallet ecosystem for various transactions.
  • High Circulation: With half of its total supply in circulation, TWX is widely used and traded.

These top TRC-20 tokens show off the flexibility and potential of Tron-based tokens in the crypto market. Their unique features and strong market presence make them must-watch assets for traders and investors. Make sure to find a good TRC-20 wallet if you plan to invest in these (or any other) tokens. 

Popular TRC-20 Tokens

TRC-20 tokens are making waves on the Tron Network thanks to their cool features and easy compatibility. Let’s check out three of the hottest TRC-20 tokens:

JUST (JST)

JUST (JST) is the big boss token in the JUST ecosystem. It’s all about giving users a voice in how things run. With JST, you can vote on important stuff and help shape the future of the platform.

Token Symbol Market Cap Use Case
JUST JST $XXX million Governance, Voting

APENFT (NFT)

APENFT (NFT) is where art meets blockchain. This token lets you turn world-class art into NFTs, making it easier to buy, sell, and verify. It’s like giving art a digital passport.

Token Symbol Market Cap Use Case
APENFT NFT $XXX million Art, NFTs

WINkLink (WIN)

WINkLink (WIN) is the bridge between the real world and blockchain. It feeds real-world data into smart contracts, making them smarter and more reliable. Think of it as the brain behind the blockchain.

Token Symbol Market Cap Use Case
WINkLink WIN $XXX million Data Integration, Smart Contracts

These tokens show off what TRC-20 tokens can do on the Tron Network. Each one has its own special role, helping the ecosystem grow and thrive.

Hot New TRC-20 Tokens

SEED and EGG

SEED and EGG are two TRC-20 tokens that have been turning heads in the crypto world. They’re not just getting buzz for their unique uses but also for their high liquidity on the Tron network.

Token Use Case Liquidity Rank on Tron Network
SEED Swaps Tron tokens via Telegram bots 1
EGG Powers the SeedGerminator game “The Eggies” 2

SEED is the top dog on the Tron network. It’s the go-to token for swapping Tron tokens using Telegram bots. This makes it a big deal in the Tron community. SEED also holds the crown for being the most liquid token on the Tron blockchain-operated online casino, making it a cornerstone in the Tron world.

EGG is another heavy hitter, mainly used in the SeedGerminator game “The Eggies.” It’s the second most liquid token on the Tron network and could shake up the gaming scene. Its role in the top Tron casino shows its versatility and growing importance.

TWM and Poppy Token

TWM and Poppy Token are also making a splash on the Tron network, each bringing something different to the table.

Token Use Case Expected Utility
TWM Smooth and secure Tron token swaps on DEXs Price bump expected with exchange launch
Poppy Token Eases crypto payments for retailers Profit-sharing for holders

TWM (Tron Watch Market) is used on various decentralized exchanges (DEX) across the Tron Network. Its main job is to make Tron token swaps smooth and secure. With its utility, TWM prices are expected to jump once the exchange is fully up and running.

Poppy Token is all about making it easy for retailers to accept TRX and other Tron tokens. It aims to lower the barriers for retailers to dive into crypto payments. Plus, Poppy token holders might get a slice of the company’s profits, giving investors a sweet deal.

These new TRC-20 tokens show off the innovative and diverse nature of the Tron network. With their unique uses and growing liquidity, SEED, EGG, TWM, and Poppy Token are set to make big waves in their fields.

Overall, regardless of which TRC-20 token you want to invest into, keep in mind that these tokens do require TRX to cover the network fees, so keep that Tron Wallet of yours nice and full.

 

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