Korain Ki The Jung: MOCKTAIL The World's First Semi-Fungible Token on BSC

MOCKTAIL The World's First Semi-Fungible Token on BSC

What is special about ERC1155?

According to Blockchain experts, Non-Fungible Tokens can revolutionize the future of blockchain. Do you really understand this concept and how can it be used? Let’s start talking about the basics and discussing what makes NFTs special and with a promising future.

Fungible Tokens and Non Fungible Tokens

Fungibility is important in the world of blockchain and cryptocurrency. It is desired for any currency, traditional or digital, since most currencies aim to be an interchangeable asset. A token can be exchanged for any other token of the same value. For example, One US dollar currency can be changed for another US dollar currency without any difference to the user.

In the Ethereum network, there are popular patterns that have been specified by the community itself. Each standard is known as ERC which stands for Ethereum Request for Comments. It defines methods, technology, behaviors for a particular functionality in Ethereum and it is submitted either for peer review.

ERC-1155

ERC-1155 is a standard for contracts that manage any combination of fungible tokens and non-fungible tokens.

As a result, the pattern avoids tons of repetitive code circulating the several contracts in the Ethereum ecosystem and saving significant storage space and gas costs.

Following are Mocktail features:

1. ERC-1155 token standard:

Mocktail Token based on ERC-1155 standard Semi-Fungible Token built on Binance Smart Chain. And it is the first ERC-1155 token built on the Binance Smart Chain.

2. Swapping:

Mocktail allows users to swap their tokens for other tokens with low fees.

3. Farming:

Users can earn crypto by lending their tokens to others via smart contracts.

4. Liquidity:

Users can participate by becoming a liquidator and get rewards according to their participation.

5. Staking:

Allows users to stake their tokens and earn rewards according to their participation.

How It Works?

MOCKTAIL is the world’s first ERC 1155 standard Semi-Fungible Token (SFT) on Binance Smart Chain.

Mocktail Token is the first semi-fungible token on Binance Smart Chain.

It’s a new Ethereum token standard and a new type of dapp on Mocktail Finance! The ERC-1155 token standard provides a way to make one smart contract govern almost an unlimited number of tokens — technically, 2²⁵⁶ token types with up to 2²⁵⁶ copies of each.

Additionally, each token is semi-fungible. Unlike ERC-721 non-fungible tokens (NFTs), which can only be owned by one address each.

Semi-fungible means:

Each token type can be owned by multiple addresses

One address can own multiple copies of each token.

Ticker: MOK

Chain: Binance Smart Chain (BEP-20)

Address: https://bscscan.com/token/0x23A1c4025Aa5Dc7f876530bEb76346b99d50C3AA