How to Create BEP20 Token: A Detailed Guide
Tokens 01 Mar 235 min readAre you looking to build digital assets on Binance Smart Chain? The BEP20 token standard is the way to go. In this easy-to-follow detailed guide, you will learn how to create and deploy a BEP20 token on Binance Smart Chain, even if you don't have any coding skills.5 min read
Blockchains such as Ethereum and BSC created ERC-20 and BEP-20 smart contracts interfaces respectively as standard protocols to build digital assets in their respective blockchains. This is one way of improving interoperability between tokens that comply with the standard.
The BEP-20 token standard is an extension of the ERC-20 token standard on the Ethereum network. The similarity enables one to create and deploy a BEP20 token on a Binance Smart Chain using Ethereum tools without any hassle.
It’s a good thing to familiarize yourself with these standards, even as a non-developer, so that you could leverage the benefits of both.
In this easy-to-follow detailed guide, we’ll walk you through easy steps on how to create and deploy a BEP20 token on Binance Smart Chain.
What Is the BEP20 Token?
BEP20, an abbreviation of BNB Evolution Proposal, is the BSC token standard created to provide the basic framework required to launch a token on the BSC blockchain. BEP20 token is similar to ERC-20 token of Ethereum network even though they have slight difference in functionalities but the modus-operandi are the same.
The BEP20 token standard ensures the Binance Smart Chain developers adhere to include all the functionalities necessary for token operation such as token ownership, transferring, returning balance, mint of BEP20 token and more.
The BEP20 token is interoperable with both BNB Beacon Chain and the BNB Smart Chain.
Let us explore in detail, how to create the BEP20 token.
BEP20 vs BSC
There are a lot of abbreviations and token standards you can run into when exploring the Binance Smart Chain and BEP20 tokens. Let’s dive into them and explore what they stand for.
BNB is a native token of Binance Smart Chain (BSC). BNB is used to pay gas for transactions on Binance Smart Chain and is similar to ETH on the Ethereum Mainnet, or Matic on Polygon Mainnet.
BEP-20 serves as a development standard to create tokens called BEP-20 tokens. Examples of such tokens are CAKE, SafeMoon, BUSD and more. BEP-20 derives from the ERC-20 standard on Ethereum.
Binance Smart Chain (BSC, or BNB Smart Chain) on the other hand, is not a token but a dedicated blockchain of Binance that operates smart contracts on which digital assets are created.
BNB Beacon Chain, or Binance Chain, is different from Binance Smart Chain. BNB Beacon Chain was created before BSC and had a lack of opportunities for proper blockchain ecosystem development. Both BNB Beacon Chain and BNB Smart Chain are actively operating.
Binance Smart Chain though is EVM-compatible, more scalable and flexible to extending. It is used for the development of decentralized applications (DApps), token development, DEX development and much more.
Benefits of Creating a BEP20 Token
The benefits of creating a BEP20 token are numerous, and they make it an attractive option for those looking to launch their own digital currency. Here are some of the key advantages of BEP20 tokens:
- Low gas benefit on the BSC network. One of the most significant benefits of BEP20 tokens is their low gas fees on the Binance Smart Chain. When compared to Ethereum, the gas price is much lower, resulting in less spending on token interactions and deployment of token itself.
- Faster transactions processing. Binance Smart Chain has higher Transactions Per Second processing than Ethereum Mainnet and waiting time for your transaction to come through is quite low.
- Large adoption on Binance. With Binance being one of the most popular cryptocurrency exchanges worldwide, launching a BEP20 token on the Binance Smart Chain means it will have immediate exposure to a broad audience. This increases the chances of adoption and the token's success.
- Well-recognized standard. BEP20 tokens are based on a well-recognized standard, making it easy for developers to create tokens using best practices and established development practices. Additionally, the familiarity with the standard means finding skilled developers who are knowledgeable about creating BEP20 tokens is easier.
- Future cross-chain possibilities. BEP20 tokens' similarity with ERC20 tokens means it's possible to create the same token on other blockchain networks such as Ethereum or Polygon, and bridge them together, increasing the token's reach and potential market.
Overall, the low gas fees, large adoption, easy development practices, and future cross-chain compatibility make creating a BEP20 token an attractive option for those considering launching their own digital currency.
How to Create BEP20 Token
Web3 innovations have made it easier to create tokens either manually or using online token generators such as the BEP20 Generator. All you need is a good understanding of how BSC operates as it works in a similar way to Ethereum using the same codebase. In this section, we’re going to create a BEP-20 token using BSС testnet.
The steps are simple and easy to help you create your first BEP20 token as it requires little or no coding skills.
Part 1: Get a Wallet and connect to a Node
The first step is to get a good, reliable wallet. Metamask is a fantastic wallet option if you don’t have one already. You need a node to connect the MetaMask wallet with and we’re going to use Binance Testnet in this tutorial. Note that Binance Smart Chain Mainnet is a different chain from Testnet, and to deploy a token on Binance Smart Chain you will need to configure Binance Smart Chain mainnet node and buy BNB to pay for gas. Chainlist provides an easy-to-use interface to connect EVM networks such as BSC Testnet or BSC Mainnet to the wallet. Follow the instructions on the site and you’ll get it done. Proceed to the next step.
Part 2: Fund the Wallet
Now that you’ve connected the wallet to the BSC testnet, get the wallet funded with testnet BNB by copying the wallet address to https://testnet.bnbchain.org/faucet-smart . Paste it into the field and select the “Give me BNB” option and follow the instructions. Now, the quantity of BNB received will appear in your MetaMask wallet. Proceed to the next step of creating a BEP-20 token.
Part 3: Create the smart contract
You need to utilize tools such as Remix and a language called Solidity to create a BEP20 token. Don’t worry if you are not familiar with either: it won’t require much coding skills.
The first step will be to open the official BEP20 token implementation at BEP Github Repository. Click “Copy raw contents” in the top-right corner of the file.
Open Remix IDE in the browser where you have the wallet installed. Click “Create New File” icon and name your file BEP20Token.sol. Paste the contents of the file from the BEP Repository to Remix.
To comply with the latest security standards, update the solidity version at the top of the file to the latest you see on the compiler tab. At the moment of writing this article, the 0.8.18 version is the latest.
Scroll the code down to the BEP20 Token Constructor (line 351).
Fill in the Token name, symbol, decimals and total supply.
- Token name is the name of your token displayed on the exchanges and Block Explorer, such as DogeCoin
- Symbol is the short name of your token which you can see when transferring it or reviewing your balance, e.g. DOGE
- Decimals determines the size of the smallest unit of your token. Most of the BEP20 tokens have 18 decimals after . , meaning that 1 * 10^(-18) is the smallest unit of this token that can exist and be transferred. You can set it to 0 as well, this way the token can not have any digits after dot. We suggest to use 18 decimals here for simplicity purposes.
- Total supply determines how much token you would like to issue when creating it. This number depends on the decimals you have selected. If you went with 18 decimals, you can use the Ethereum Unit Converter tool to easily get the right total supply number. Simply enter the desired amount of tokens into Ether input and copy the value from Wei input to the smart contract code.
This is how your contract will look like after filling in the details:
Go to the Solidity Compiler tab in Remix and click Compile. Alternatively, you can use keyboard combination Cmd + S.
Yay, you have just compiled your first BEP20 token smart contract!
How Much Does It Cost to Create a BEP20 Token?
The estimated cost of creating a BEP20 token on a BSC blockchain could be in the range of $10-$100 if the token is as simple as above. If you desire a feature-rich and custom-built BEP20 token, be ready to spend more as the following factors will affect the cost of both development and transactions. Such factors include advanced features to be deployed such as security, DeFi instruments around your token, multi-tiered integrations, staking modules etc and labor.
For quality and cost-effectiveness, consider hiring Aegas as your token development partner.
How to Deploy BEP20 Token?
You have created a BEP20 token smart contract, now it’s time to deploy it!
Go to the Deploy & Run transactions tab. Open Environment dropdown and select option “Injected Provider - Metamask”. Make sure you have the correct account connected to Remix and the balance is non-zero.
See that the BEP20Token is selected under “Contract” and click “Deploy”. It will trigger the transaction in Metamask. Confirm the Metamask transaction and wait a bit. You’ll see the token address as soon as it gets deployed.
Hurray, you’ve created a BEP20 token! Check it out on the BSC Scan - the BNB Smart Chain block explorer. Since we are using Testnet here, use the testnet.bscscan.com. Paste the address of your contract into search and see your token.
Congratulations, you have learned how to create and deploy BEP-20 using Solidity and Remix!
If you are not a Solidity developer, it’s important to seek professional help or additional custom built BEP-20 token development services or launchpads solutions to make sure your smart contract is safe to use and works exactly as you expected.
At Aegas, we offer advanced features inr BEP20 smart contract development:
Token Generation. You create your BEP-20 token using our launchpad built-in-token generator with multiple token types and features.
Multi-Wallet Integration. We offer dapp development services with multiple Web 3 wallets integration, support of multi-blockchain transactions and more.
Staking and Liquidity Pools. Token can not exist on its own these days. It’s a common practice to connect your token to the DEX, create staking smart contract, create liquidity pool for your token and its community of holders.
Token Utility. Even having DeFi tools around your token is not enough to keep it valuable and avoid massive token sales due to the project's uncertain future. Think of what value you can bring with this token and use it in the Web3 products of your choice. We offer dapp development involving utility token integrations to bring unique experience to the holders.
Create BSC Token With Aegas
The process of creating a BEP20 token involves various steps and plans such as token creation, smart contract development for token distribution, listing and more. Therefore, it’s advisable to engage the services of Aegas to walk you through the process.This saves you time, resources and trial & error process.
Aegas is a Web 3 solutions provider that offers bespoke blockchain services for businesses. Our focus is to build innovative blockchain projects that match your expectations and turn your vision into reality.
At Aegas, we offer customized BEP20 token development services that align with your business needs to help you accomplish your set goal. Our blockchain experts will devise an achievable roadmap to navigate, that will help you on your your product path.
Benefits of using our platform include credibility, liquidity, setting up multiple fundraising tools and cost-effectiveness.
Let’s start a new project together and all that’s required from you is to connect with our team to discuss your needs for BEP20 token development.