Creating an ERC-20 Token on Gnosis Chain

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Introduction

Deploying an ERC-20 token on Gnosis Chain closely mirrors the process used for Ethereum. ERC-20 tokens adhere to a widely accepted standard that ensures interoperability across wallets, exchanges, and decentralized applications (dApps). This guide walks you through the essential steps to create and deploy your own token.

Understanding the ERC-20 Standard

The ERC-20 Standard defines a set of mandatory functions and events that a token contract must include:

Required Functions:

function name() public view returns (string)
function symbol() public view returns (string)
function decimals() public view returns (uint8)
function totalSupply() public view returns (uint256)
function balanceOf(address _owner) public view returns (uint256 balance)
function transfer(address _to, uint256 _value) public returns (bool success)
function transferFrom(address _from, address _to, uint256 _value) public returns (bool success)
function approve(address _spender, uint256 _value) public returns (bool success)
function allowance(address _owner, address _spender) public view returns (uint256 remaining)

Required Events:

event Transfer(address indexed _from, address indexed _to, uint256 _value)
event Approval(address indexed _owner, address indexed _spender, uint256 _value)

Implementing the Token Contract

We'll use OpenZeppelin's audited and gas-optimized ERC-20 implementation to simplify development:

// SPDX-License-Identifier: MIT
pragma solidity ^0.8.9;

import "@openzeppelin/contracts/token/ERC20/ERC20.sol";

contract OwlToken is ERC20 {
    constructor() ERC20("OwlToken", "OWLT") {
        _mint(msg.sender, 1000 * 10 ** 18);
    }
}

Key Components:

👉 Learn more about token decimal precision

Viewing Your Tokens

After deployment:

  1. Locate your token's contract address in the deployment transaction receipt

  2. In MetaMask:

    • Navigate to "Assets" tab
    • Click "Import Tokens"
    • Enter the contract address
  3. The token balance will appear in your wallet

FAQ Section

What's the difference between ERC-20 on Ethereum and Gnosis Chain?

The technical standard is identical, but Gnosis Chain offers faster transactions and lower fees while maintaining EVM compatibility.

Why use OpenZeppelin's implementation?

It provides battle-tested, secure code that handles all ERC-20 requirements, allowing developers to focus on unique token features.

How do I distribute tokens to others?

Use the transfer() function in your wallet's contract interaction interface or build a custom dApp for distribution.

Can I change the token supply later?

Not with this basic implementation. You would need to add mint/burn functionality in the contract code.

What wallet supports Gnosis Chain tokens?

Most EVM-compatible wallets (MetaMask, Rabby, WalletConnect) work when configured with the Gnosis Chain RPC.

👉 Explore advanced token development strategies

Next Steps