Table of Contents

• Step-by-Step Guide on How to Create a BEP20 Token on the BNB Chain
  • Bonus Step: Start your fundraising via token offerings
  • Summary

The BNB Chain (aka Binance Smart Chain or BSC) has emerged as a popular network for creating and deploying decentralized applications (dApps) and tokens. Its fast transaction speeds, low fees, and compatibility with the Ethereum Virtual Machine (EVM) have made it an attractive alternative to Ethereum.
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Rapid Adoption and Market Expansion

The BNB Chain has witnessed a remarkable surge in adoption, with the number of unique addresses doubling from June 2021 to June 2022, reaching a staggering 175 million. This substantial growth reflects the network’s appeal to developers and users alike.

BNB Chain Evolution: From Dual Chain to MetaFi Infrastructure

In early 2022, Binance announced a significant transformation of the BNB Chain, moving from a single-chain structure to a dual-chain architecture. This strategic move aimed to enhance interoperability and enable seamless asset transfers between the two chains: the BNB Beacon Chain and the BNB Smart Chain.

Embrace of MetaFi: A Convergence of DeFi, NFTs, and Web3

The BNB Chain has embraced the concept of MetaFi, a fusion of decentralized finance (DeFi), non-fungible tokens (NFTs), and Web3 technologies. This innovative approach aims to create a cohesive ecosystem that caters to a broader range of blockchain applications.

Technical Architecture: Security and Scalability

The BNB Chain utilizes a delegated Proof of Stake (DPoS) consensus mechanism, ensuring democratic governance and improved security. This mechanism involves elected validators who maintain the network’s integrity and participate in decision-making processes.

Key Advancements Since the Introduction of BNB Chain

The BNB Chain has consistently evolved to address market demands and enhance its capabilities. Notable advancements include:

• Scalability: The BNB Chain can handle up to 160 transactions per second (TPS), significantly outperforming Ethereum’s 15 TPS.
• Interoperability: The BNB Chain is EVM compatible, allowing seamless integration with other Ethereum-based applications.
• On-chain Governance: The BNB Chain introduces on-chain governance mechanisms, empowering community members to participate in network decisions.

Centralized Decentralized Finance (CeDeFi): Balancing Decentralization and Efficiency

The BNB Chain champions a unique approach to decentralized finance, termed CeDeFi. This concept combines traditional centralized finance structures with decentralized applications (DApps), offering a balance between decentralization and efficiency.

BNB Coin: The Fuel of the BNB Chain

The BNB Coin serves as the native utility and governance token of the BNB Chain. It is utilized for paying gas fees, participating in governance processes, and accessing various DeFi services.

What is BEP20 Token?

A BEP20 token is a standard for tokens on the BSC. It is similar to the ERC20 token standard on Ethereum, and tokens that comply with the BEP20 standard can be easily transferred between these two blockchains.

Top BNB Chain projects

With over 4 million monthly users, PancakeSwap is one of the most successful projects on the BNB Chain. PancakeSwap offers a variation of DeFi applications including a Decentralized Exchange, yield farming, prediction markets and a NFT marketplace. Another popular DeFi project on the BNB Smart Chain is the oracle provider Chainlink. Using the decentralized oracle network of Chainlink, real world data can be added to smart contracts.
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Step-by-Step Guide on How to Create a BEP20 Token on the BNB Chain

Prerequisites
Before you begin, you will need the following:

• A web3 wallet
• Enough BNB tokens to cover for fees
• Token information ready

Creating a BEP20 token on the BSC is a relatively straightforward process. Here are the steps involved:

1. Add the BSC Network to Your MetaMask Wallet: To create a BEP20 token, you first need to add the BNB Chain to your MetaMask or wallet. This will allow you to interact with the network and deploy your token to the blockchain.
2. Connect Your Wallet to Token Tool: Token Tool is a platform that simplifies the process of creating and managing BEP20 tokens. You can connect your wallet to Token Tool using the “Connect Wallet” button at the top right. Make sure you have the same network selected on Token Tool and in your wallet. You should also ensure that you have sufficient BNB funds to cover for fees.
3. Select the Token Standard: Choose “Create Token” and then select the “DeFi Token” tab to create a BEP20 token. You can then start configuring your token parameters as desired.
4. Specify Your BEP20 Token’s Properties and Features: Provide the necessary details about your token, such as its name, symbol, total supply, and decimals. You can also add additional features like burning, minting, apply tax or burn rate, and changing the owner wallet address upon deployment. All details about the features can be found here.
5. Review and Deploy Your Token: Once you have entered all the required information, review it carefully. If everything is correct, click on the “Create Token” button to deploy your token to the BNB Smart Chain network. Confirm transaction in your wallet to pay fees.

Congratulations! Your token has been successfully deployed to the BNB network. You will receive a pop up modal with the link to the transaction on the block explorer, as well your token’s contract address.

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Bonus Step: Start your fundraising via token offerings

You just experienced how easy it is to create your token using Token Tool. Now that you have your tokens created, you are all set to kick off your crowdfunding campaign. Wondering how to start your token crowdsale? Token Tool is here to save the day, with the “Create Token Sale” you can create token presale as effortlessly as creating your tokens. Our article on how to create a token presale provides you with a step-by-step guide to start your own token offering.

Summary

Creating a BEP20 token on the BNB Chain can prove to be quite complex and costly. However it is a relatively simple and cost-effective process that can be easily accomplished using Token Tool. With the growing popularity of the BNB Smart Chain, creating your own token on this platform can open up new opportunities for your project.