Create an ERC20 Token in less than a minute

Try the generator 👇

https://www.smartcontracts.tools/token-generator/

The ERC20 Token protocol became popular with crowdfunding companies via initial coin offering (ICO) and they are now having success in DeFi (Decentralised Finance) projects like Uniswap.

Initial Coin Offerings have become extremely popular ways to raise funds while avoiding the regulatory restrictions of fiat financing.
The majority of ICOs are based on Ethereum as a platform, and more specifically on Ethereum’s Smart Contracts.
Shares in ICO projects are usually sold for ETH or BTC, and awarded in the form of tokens (also known as ERC20 tokens).

So while we’re used to seeing and dealing with ERC20 tokens, few people know exactly what they are, how they work, or even what ERC20 means.

In case you’re wondering, ERC stands for Ethereum Request for Comments, and 20 is the number assigned to the proposal.

The ERC20 Standard

ERC20 provides basic functionality to transfer tokens, as well as allow tokens to be approved so they can be spent by another on-chain third party.

Here the standard ERC20 definition:

In addition there are some optional useful fields:

  • Token Name
  • Symbol
  • Decimals (usually 18)

The system is, however, not perfect. For instance if you want to make an action after a payment done on a Smart Contract, you should make two calls: you should first approve Smart Contracts to be allowed to transferFrom some tokens when you make the second transaction.
By using this approach you are paying GAS twice.

NOTE: In my previous post I already explained ERC20’s limits on transfers and how it can be extended to became a real life Payable token.
To do so I built the ERC1363 Payable Token library.

How to generally deploy an ERC20 token?

There are many libraries and tools that provide implementations of standards like ERC20 and ERC721 which you can deploy as-is or extend to suit your needs, as well as Solidity components to build custom contracts and more complex decentralized systems.
But you need to learn Solidity, you need to setup your own environment and code and deploy your token using an Ethereum node.
They are a lot of skills and configurations.

But I would like to see people thinking about how their projects can be decentralized (if blockchain would apply to their projects) and not bothering about why node is not syncing, or if Smart Contract is secure and many other blockchain related issues.

For this reason, I decided to build a simple DApp allowing people to deploy their token in less than a minute!

Yes, less than a minute!

Try it by yourself 👇
https://www.smartcontracts.tools/token-generator/

All of what you have to do is to fill in a simple form and complete the transaction with MetaMask.
Nothing else.
No login.
No setup.
No coding required.
No payment (excluding GAS).

*Note: you can choose advanced options for small fees.

About the code

Token will be built using OpenZeppelin, an open source library for secure Smart Contract development.
Smart Contracts have been compiled with solc v0.8.13+commit.abaa5c0e, using Truffle and Hardhat, development environment, testing frameworks and asset pipeline for Ethereum, aiming to make life as an Ethereum developer easier.
Code have been tested with 100% coverage.

What will you deploy?

Detailed ERC20 Token: your token will be fully compliant with ERC20 definition and compatible with any ERC20 wallet all around the world.
It will have a name, a symbol and a decimals amount.

Mintable Token: you will be able to generate tokens by minting them.
Only token owner will be able to do that. You can also disable minting if you don’t want to generate anymore.

Capped Token: you can’t be able to mint more than the defined token cap. This ensure people that you will not generate more tokens than declared.

Burnable Token: your token can be burnt. It means that you can choose to reduce the circulating supply by destroying some of your tokens.

ERC1363 Payable Token: the ERC1363 is an ERC20 compatible token that can make a callback on the receiver contract to notify token transfers or token approvals. It can be used to create a token payable crowdsale, selling services for tokens, paying invoices, making subscriptions, use them for a specific utility and many other purposes. Discover more.

Token Recover: it allows the contract owner to recover any ERC20 token sent into the contract for error. Discover more.

How it works

By visiting the DApp website https://www.smartcontracts.tools/token-generator/ you will be able to deploy your token in less than a minute.

Below the requested informations.

Enter your preferred token name and symbol.
Insert also decimals (as said usually this is 18).

Then enter token total supply (the maximum number of tokens available; no more than this number of tokens can be generated) and token initial supply (the initial number of tokens to be generated in your wallet).

You can choose the Network where do you want to deploy your token.

Confirm your transaction in MetaMask and then wait for your token to be deployed.

You will receive the transaction hash and token address and your Smart Contract will be automatically deployed on the chosen network.

Watch a video tutorial

How to use ERC20 Token Generator

Your token will appear like this and your source code will be already verified on Etherscan because of it is similar to already verified contracts.

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Web and Blockchain Developer

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Vittorio Minacori

Vittorio Minacori

Web and Blockchain Developer

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