Mintable Tokens
Understanding Mintable Tokens in the Terra Classic Ecosystem
Last updated
Understanding Mintable Tokens in the Terra Classic Ecosystem
Last updated
Mintable tokens are a type of token created on the Terra Classic blockchain using the CW-20 standard. These tokens have the potential to be minted (created) by a designated "minter" at any time. However, this feature can be a concern for investors as it can lead to inflation and dilution of token value.
Preservation of Value: Non-mintable tokens, where the minting privilege has been renounced, offer greater stability and potential value appreciation.
Investor Confidence: Investors often prefer tokens with a fixed total supply, as it provides a sense of security and limits the potential for manipulation.
To determine if a token is mintable, you can examine on LuncScan.com. Look for the mintable property of each token.
To determine if a token is mintable, you can examine its contract code on a blockchain. Look for the minter property. If it's set to a specific address, the token is mintable. If it's null, the token is non-mintable.
The minter property is set to a specific address, indicating that the token can still be minted.
The minter property is null, and the creator has renounced their admin rights, making the token unmintable.
If you're a token creator and want to make your token unmintable, you need to renounce both the minter and admin privileges. This ensures that no one can mint new tokens in the future.
Note: The process for renouncing these privileges may vary depending on the specific token contract. It's recommended to consult with developers or experts familiar with the Terra Classic ecosystem for guidance.
When investing in LUNC-based tokens, it's crucial to understand the mintability status. Unmintable tokens generally offer greater stability and potential value appreciation. By checking the minter property and ensuring that both minter and admin privileges are renounced, you can identify tokens with a more secure and predictable supply.
