If you want to create your own cryptocurrency token, a BEP-20 token is a great option. To begin, a crypto token must be created and deployed on a blockchain. BSC is currently the fastest growing blockchain, attracting investors due to its low transaction costs and fast transaction speeds. If you want BSC to deploy your own token, you must first create a BEP-20 token. The BEP-20 tokens could be used as a digital currency for a variety of purposes, ranging from product payments to community awards.
Okay, so you’re all looking forward to making your BEP-20 token, but how are you going about it? To create a BEP-20 token, you simply need to enter all of the token features in accordance with the BEP-20 specifications. This specification is written in the Solidity programming language, and the entire requirement is known as an intelligent contract. Enter the code string public name = “DogeCoin” in your contract code, for example, to give your token a name. Furthermore, modern BEP-20 tokens include many complex trading controls and mechanics:
Anti-whale provisions: You don’t want anyone hoarding all of your tokens, so you need to put a limit to tokens a wallet can hold. You also don’t want a large selling transaction that drastically lowers the value of your token. A token’s maximum transaction limit must be specified. This restriction will prevent large holders, also known as whales, from manipulating your token.
Reward: You want to attract more investors, and the reward is a great incentive. You can deduct a small fee, say 2%, from all transactions and give it to existing token holders to encourage them to keep their tokens. This is similar to how stocks pay out dividends unless it happens much faster and more quickly.
Automatic Liquidity Generation: SafeMoon token popularised automatic liquidity generation, which is intended to provide long-term stability A small fee is charged for each transaction, which is used to add funds to exchanges like PancakeSwap. This expands the liquidity pool, improves price stability, and allows for higher trade volumes.
Buyback: This is the most recent trend, which began with a couple of tokens such as EverRise. On the stock market, a buyback refers to the purchase of a company’s stock on the open market, which increases the stock’s value. Similarly, when the market is doing a lot of sell, transaction fees are used to buy back and burn tokens. The liquidity pool not only receives more value (BNBs) but token supply is also reduced by burning, causing prices to rise quickly and preventing large dips in price.
Honeypot-Free Spec: Many tokens are fraud tokens that allow investors to buy but not sell. Many tools for such honeypot token detection have been developed, and you may set off these alarms if you are not meticulously defining your BEP-20 token definition.
Writing smart contract codes that cover everything required by the BEP-20 specification is the most obvious method of creating a BEP-20 token. However, you must be proficient in solidity programming. This may take a long time to commit to, which means that your token’s launch may take several months. Mudra Token Creator is a platform for instantly creating BEP20 tokens. There is no coding required to create your token. Just select the options that you want to include in your token. The token comes with best-in-class features such as whale-free mechanics, transaction fees, honeypot-free code, automated liquidity, and buyback hyper deflationary mechanics. All of this for a very low fee. Mudra Token Creator also provides free services such as the creation of a liquidity pool.
