ERC-20 Token

Overview​

This will follow very closely with the steps to deploy an ERC-20 token to Ethereum. An ERC-20 token is a token that follows the ERC-20 Standard. To follow the standard, we will be deploying a contract that implements the following events and functions:

function name() public view returns (string)
function symbol() public view returns (string)
function decimals() public view returns (uint8)
function totalSupply() public view returns (uint256)
function balanceOf(address _owner) public view returns (uint256 balance)
function transfer(address _to, uint256 _value) public returns (bool success)
function transferFrom(address _from, address _to, uint256 _value) public returns (bool success)
function approve(address _spender, uint256 _value) public returns (bool success)
function allowance(address _owner, address _spender) public view returns (uint256 remaining)

event Transfer(address indexed _from, address indexed _to, uint256 _value)
event Approval(address indexed _owner, address indexed _spender, uint256 _value)

For this tutorial, we are going to be using Hardhat.

Prerequisites​

To follow along, it's recommended to review and be familiar with the documentation on deploying a contract. This will also follow a lot of the same steps as the Launching an ERC-721 (NFT). You will also need to have a working Node.js >=16.0 installation and a small amount of VLCT for gas.

Also, take a look at these important points to consider before creating your token.

Step 1: Set up your Environment​

For this tutorial, we're going to use npm and Solidity v0.8.9

mkdir velocity-token-example
cd velocity-token-example && npm init && npm install --save-dev hardhat && npx hardhat

Select Create an empty hardhat.config.js and hit enter. Then run:

npm install --save-dev @nomicfoundation/hardhat-toolbox

Configure hardhat with Velocity.

Step 2: Add Contract Code​

We're going to import and use OpenZeppelin's ERC-20 contract implementation.

npm install @openzeppelin/contracts
mkdir contracts
cd contracts && touch ExampleErc20.sol

Now add the following code to your ExampleErc20.sol file:

// SPDX-License-Identifier: MIT
pragma solidity ^0.8.9;

import "@openzeppelin/contracts/token/ERC20/ERC20.sol";

/**
 * @title TestToken
 * @dev Very simple ERC20 Token example, where all tokens are pre-assigned to the creator.
 * Note they can later distribute these tokens as they wish using `transfer` and other
 * `ERC20` functions.
 * Based on https://github.com/OpenZeppelin/openzeppelin-contracts/blob/v2.5.1/contracts/examples/SimpleToken.sol
 */
contract TestTokenis ERC20 {
    /**
     * @dev Constructor that gives msg.sender all of existing tokens.
     */
    constructor() ERC20("TestToken", "TEST") { ///name of the token
      _mint(msg.sender, 1000 * 10**18);

    }
}

Now, you are ready to deploy your token contract. Be sure to properly store your mnemonic/private key! The deploy script will be the same as when we deployed the NFT. Also, see here for more info on deploying contracts with Hardhat.