If you want to create your own cryptocurrency token, a BEP-20 token on Binance Smart Chain (BSC) is an excellent choice. BSC is the fastest growing blockchain at the moment, attracting investors due to its low transaction costs and high speed. Before using BSC to deploy your own token, you first need to create a BEP-20 token.
So you're ready to make your BEP-20 token, but where do you begin? To put it simply, creating a BEP-20 token entails filling out all of the token's properties in accordance with the BEP-20 specifications. The complete specification is known as a smart contract, and it is written in the Solidity programming language. Include a line of code string public name = "MyToken" in your contract code to give your token a name. Some are straightforward, such as a name, while others, such as those discussed in the following section, are far more complex. Aside from the standard requirements such as the token's name and symbol, the cutting-edge BEP-20 tokens also include additional features.
You don't want someone to just hoard all of your tokens, so limiting the number of tokens a wallet can hold is critical. You also don't want someone to make a large sell transaction that causes the value of your tokens to fall. Setting a token's maximum transaction limit is required for this. Because of these restrictions, large holders, also known as whales, are barred from manipulating your token. These are also known as ant-whale mechanics.
Holding rewards is a great way to entice more investors to your token. To encourage current token holders to keep their tokens, you can deduct a small fee from all transactions, say 2%, and give it to them. This works similarly to how stocks pay dividends, but much faster and at a higher percentage.
SafeMoon popularised automatic liquidity generation as a means of ensuring long-term stability. A small fee is charged for each transaction, which is used to increase liquidity on exchanges such as PancakeSwap. This increases the liquidity pool, which improves price stability and allows the token to support higher trading volumes.
A few tokens, including EverRise, have begun a buyback trend. In the stock market, a buyback is when a company buys back its own stock on the open market, increasing the stock's value. When the market is selling, the fees from the token contract are used to buy back and burn tokens. These purchases not only add more value (BNBs) to the liquidity pool but also reduce the overall circulating supply of tokens, causing the price to rise quickly and preventing large dumps.
Many scam tokens function as honeypots, allowing investors to buy but not sell tokens. The money invested in such tokens is completely lost. Numerous tools have been developed to detect honeypot tokens, and if you are not cautious when defining your BEP-20 token, these tools may flag it. As a result, a meticulous BEP-20 specification is required.
Specifying these controls in the smart contract is far more difficult than naming your token.
The obvious method for creating a BEP-20 token is to write smart contract code that meets all of the BEP-20 specifications. Solidity programming will be required to implement the smart contract on the BSC blockchain. This may necessitate a significant time commitment, delaying the launch of your token by several months. Mudra Token Creator is a no-code platform to create BEP20 tokens on the Binance Smart Chain. The token generated contains best-in-class features such as anti-whale mechanics, transaction fees, honeypot-free code, and hyper-deflationary mechanics with automatic liquidity and buyback. All of this is at an affordable fee. Furthermore, Mudra Token Creator provides free additional services such as the establishment of a liquidity pool.