The world of decentralized finance (DeFi) is rapidly changing, with new blockchain initiatives and currencies continually appearing. Among these, BRC20 token development has received a lot of interest due to its adaptability and possible use cases. In this blog article, we will walk you through the steps of creating, launching, and listing a BRC20 token on Unisat, a decentralized exchange.
BRC-20: Tokens based on Bitcoin's legacy
Forget ERC-20; BRC-20 brings the token game to the Bitcoin network. This standard, which was introduced in 2023, enables you to produce fungible tokens utilizing the Ordinals protocol, a strong feature made available by the Taproot upgrade. Tokens can be embedded in Bitcoin transactions, allowing for the creation of new financial instruments and use cases.
Also, Read | Demystifying Bitcoin Ordinals: What You Need to Know
How Do You Deploy BRC-20 Token?
Step 1: To search for BRC-20 tokens, navigate to UniSat Wallet and select the Search BRC-20 option.
Step 2: Fill out the Inscribe tab to order your BRC-20 token.
Step 3: Enter your Bitcoin address and choose a Network Fee to receive BRC-20.
Step 4: Pay for the order.
Also, Check | ERC-20 vs BRC-20 Token Standards | A Comparative Analysis
How To Mint a BRC-20 Token?
Step 1: To look for BRC-20 tokens, go to unisat.io and select the Inscribe BRC-20 tab.
Step 2: Enter your Bitcoin address to receive BRC-20 and pick the Network Fee.
Step 3: Pay for your order
You may also like | A Detailed Guide to BRC-20 Token Launchpad Development
How to List a Token on Unisat:
1. Create a Unisat account.
Begin by making an account on Unisat, a decentralized exchange based on the Binance Smart Chain technology. This will be where you may list your BRC20 token.
2. Submit Token Information:
Submit your BRC20 token information in the Unisat token listing section. This normally comprises the contract address, token name, symbol, and any other relevant data.
3. Pay Listing Fee:
Unisat may charge a listing fee to cover costs for introducing new tokens to the exchange. Pay the fee using the relevant cryptocurrency, then wait for the Unisat personnel to examine and approve your listing.
4. Market trade:
After approval, your BRC20 token will be available for trade on Unisat. Users can purchase, sell, and trade their tokens directly on the platform.
Conclusion:
Developing, implementing, and publishing a BRC20 token on Unisat entails numerous processes, each of which is critical to the success and adoption of your token. Comprehensive testing, best practices for smart contract development, and adherence to Unisat requirements are required to ensure a seamless listing process. As the decentralized finance space expands, BRC20 tokens provide promising potential for innovation and profit creation.
If you are looking for assistance with BRC-20 token development, connect with our blockchain developers.