Introducing LEP100: Lithosphere’s Next Generation Token Standard
The LEP100 (Lithosphere Evolution Proposal #100) token standard is a one-of-a-kind multi-token standard proposed by Lithosphere founder Joel Kasr that allows a single contract to represent multiple fungible (currency), non-fungible (NFT), and batched operations for increased network throughput. The ability to exchange LEP100 tokens for other token equivalents is critical, and Lithosphere’s native coin LITHO.ai will serve as fuel for LEP100 tokens.
LEP100 tokens offer a far better option compared to Ethereum’s ERC-20 , ERC721, ERC1155 counterparts due to their cross-chain support, ability to represent both fungible and non-fungible assets. Creating an LEP100 token will be relatively straightforward. The upcoming Litho Launchpad will provide an intuitive user interface to easily create LEP100 tokens.
LEP💯 tokens have the potential to revolutionize the entire Web3 ecosystem because they allow for seamless switching between the pegged assets’ ERC-20 / ERC1155, BEP-20, BEP2, TRC20, TRC721 and LEP100 versions.
Advantages Of LEP100 Tokens Over Existing Token Standards
- Fungible and Non-Fungible: LEP100s can represent both fungible and non-fungible assets, such as money or works of art, antiques, music, and so forth.
- Time-slicing benefit: LEP100 is a time-slicing or time share token standard, and since it supports temporary asset sharing, it is superior to ERC20 tokens. Start Time and End Time properties are added via time slicing. The only valid tokens are those whose current time falls between the start time and the end time.
- Interoperability: LEP100s enable network interoperability by exchanging for ERC20, ERC-721, ERC-1155, BEP2, BEP20, or any other analogous tokens.
- Burn feature: LEP100 tokens can be burned to gradually decrease the supply, causing deflation.
- Minting advantage: LEP100 tokens can be minted to increase the supply over time, making it inflationary.
- Pause setting: LEP100 can pause. This is crucial in the event of a malicious attack or software flaw. It explains whether users can halt any operations connected to tokens as needed. The only person with the necessary permissions to suspend all activities is the token or address generator.
- Blacklist: With LEP100, users are equipped to blacklist particular addresses that are behaving maliciously. These variables allow the producer (the central authority) a great deal of control, making them unsuitable for many use cases.
Learn more about the LEP100 token standard.
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