Deploy your tokens for free using our EXT standard and new online interface

One of the things we are building at ToniqLabs (and have received grant funding for - thanks guys!) is EXT - the Extendable Token standard. I know I’ve mentioned it here a few times, but I wanted to cover a use-case that I think adds a ton of benefits to users and developers.

Our standard is similar to ERC1155 (we based it on it actually), which is a multi token standard. This means we can have any number of tokens, NFTs or traditional tokens, running from a single canister. Think VMs/VPSs - multiple virtual machines running from a single dedicated machine.

So what’s the point? Well…

  1. Lower storage costs (1 instance of the codebase)
  2. Better interoperability to “sister” tokens, e.g. tokens on the same canister. We can complete an exchange within a single atomic call.
  3. Lower computation costs for things like the above
  4. Only need to complete a security audit once for the canister

There are some drawbacks - the biggest is who pays for cycles? We believe this is something can also be handled on chain (and we are building a solution already) - charging a tx fee in a given token, then using a LP/AMM to swap it for cycles/WTC.

We deployed a canister that you can use to deploy your own tokens: https://k6exx-uqaaa-aaaah-qadba-cai.raw.ic0.app/ - tokens cost less than 60M cycles to create, so enjoy! You can use EXT interface to integrate this token, and we are developing libraries and a CLI tool to help with this too :slight_smile: ! Add tokens to Stoic to check out the integration as well

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Great! EXT is quite a promising standard-cum-product! Look forward to so much more! :kissing_closed_eyes: