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Create a fungible token

Intermediate
Tokens

Custom fungible tokens can be created and deployed on ICP using the ICRC-1 or ICRC-2 token standards. Non-fungible tokens can be created using the ICRC-7 or ICRC-37 standards.

The ICRC-1 standard is considered the 'base' standard, as it defines a set of general functionalities and requirements that all tokens and their corresponding ledgers must fulfill. Read about token standards to learn more about what token standards are and the functionalities each one supports.

Checklist: How to create a fungible token​

  1. Determine your token's name, symbol, and tokenomics.
  2. Refer to the token best practices and security best practices to educate yourself on the precautions you should take when developing a DeFi asset.
  3. Create or determine the developer identity that will act as the token's minter account.
  4. Create or determine the developer identity that will act as the controller ID for the ledger canister.
  5. Setup a local ICRC-1 ledger.
  6. Initialize your token's settings.
  7. Determine if your token will support approval workflows and if so, enable ICRC-2 methods.
  8. Configure archive options.
  9. Deploy your token locally and test.
  10. Deploy your token to the mainnet for production use.

Resources​