What are STX-20 Tokens?
STX-20 tokens, inspired by Bitcoin’s BRC-20 standard, are designed to facilitate the creation and distribution of fungible tokens on the Stacks blockchain. Utilizing the STX-20 protocol, these tokens are minted through the transaction memo field rather than conventional smart contracts, offering a more efficient, gas-saving alternative. This method not only streamlines token creation but also fits within Stacks' memory limits to preserve network integrity.
The STX-20 token protocol aims to extend Stacks’ smart contract capabilities beyond those offered by BRC-20, which primarily introduced fungible tokens to Bitcoin. While still in the early stages of utility, STX-20 tokens represent a promising development for expanding smart contract applications on Stacks.
What Can I Do with My STX-20 Tokens in Leather?
With the Leather wallet, you can maximize the utility of your STX-20 tokens:
Crypto Exchanges: Buy and sell STX-20 tokens on various cryptocurrency exchanges.
Stacks DeFi: Participate in decentralized finance by swapping tokens, contributing to liquidity pools, or securing loans backed by STX-20.
NFT Marketplaces: Engage with NFT marketplaces that support STX-20 tokens, buying, selling, or trading digital collectibles secured by the Bitcoin blockchain.
