Polkadex Fungible Assets enables developers and teams to issue their own tokens before their projects are fully deployed in Ethereum and Polkadot ecosystems simply by sending a transaction in Polkadex.
Polkadex Fungible Assets are assets that work on the native Substrate chain of Polkadot network and are also compatible with the Ethereum network. This functionality of Polkadex offers new blockchain projects an efficient way to mint, burn and distribute tokens.
Similarly, to how the ERC-20 tokens can be created on the Ethereum network, teams can use Polkadex to create tokens here and move them back to the Ethereum network when needed because of provided ERC-20 compatibility.
Key features and functionalities of Polkadex Fungible Assets include:
The tokens will have full ERC-20 functionality and an identity that can be approved by the governance showing support of the network. In the same way, as Twitter shows verified profiles the Polkadex governance will be able to approve and attest tokens. This will help to avoid fake tokens and allow our community to confirm certain projects.
Tokens can have customizable vesting support from the date of registration. Teams can define a custom vesting period for each address.
The tokens can move freely between their native parachain and other parachains. In the Ethereum network, the transition will be done using ChainBridge. It will call a smart contract in Ethereum that can deploy an ERC-20 contract and mint or burn tokens sent between Polkadex and Ethereum networks, giving backwards compatibility.
Polkadex Fungible Assets will be further enriched to support tokenizing company shares and other real-world assets.