November 15, 2024

Bitbond’s Token Tool is live on peaq

peaq

Community

In a nutshell: Bitbond’s Token Tool is now available for DePIN builders on peaq. With the tool, DePINs and users will have an easy time launching ERC-20, ERC-1400, and ERC-721 tokens on the home of DePIN, using a variety of Bitbond’s automated features. Building on peaq is growing easier by the day — which means you will see more DePIN token launches on the network faster.

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Building blocks for tokens

It’s a well-known fact by now, and yet, it’s as true today as ever: DePINin’ ain’t easy. You take the most innovative business model out there and bravely push Web3 to get real — but there’s so many steps involved… Building out your tokenomics, dealing with the hardware, building up the community, and let’s not forget about, well, building the whole affair! That’s why peaq, as the warm and welcoming home of DePIN, is doing everything possible to make building as easy as it can be.

By now, you’ve probably heard of the peaq SDK, which makes it easier for builders to tap peaq’s Modular DePIN Functions, and of collaborations like the one with the security auditing company Hashlock. Now, there’s another handy tool that builders can use to speed up their deployment on peaq — and this one will greatly help them with the tricky process of launching a token.

Meet Bitbond, a tokenization and token management platform. Bitbond is a highly reputable tokenization technology provider for financial institutions, its service offering also including on-chain settlements, digital asset custody, and more. Bitbond’s Token Tool is now available for teams building DePINs on peaq. The tool enables them to quickly and efficiently deal with a lot of the steps involved in a token launch, including:

Setting up, configuring, and managing token smart contracts
Sending tokens to multiple addresses
Automating token-based payments
Creating contracts for selling and locking tokens
And more

The tool will support some of the most popular token standards out there:

ERC-20 — the most widespread standard for fungible tokens on EVM blockchains
ERC-1400 — a popular standard for compliance-first security tokens
ERC-721 — a very widespread standard for non-fungible tokens

You can find a step-by-step guide on how to create a token on peaq with Token Tool here.

“The DePIN sector shows unique potential to transform real-world industries. We are happy to join this transformation by unlocking the Token Tool for DePIN builders on peaq, the blockchain spearheading this sector’s rise, greatly simplifying token launches and management on the network.”

— Radoslav Albrect, Founder & CEO at Bitbond

“Bitbond brings another crucial capability into the peaq ecosystem, enabling builders to launch and manage tokens of Web3’s most popular standards with ease. This will mean that more DePINs will be able to launch on peaq faster and with fewer issues, which speeds up the DePIN revolution, already going full steam ahead, even more.”

— Leonard Dorlöchter, co-founder of peaq

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