New from the KmikeyM Retailer: this inexpensive fungible token, which prices 1 / 4.
So what’s a “fungible token”? Nicely, in contrast to an NFT there may be nothing particularly distinctive about fungible tokens. Every token holds a set quantity of worth that doesn’t change. How can a token maintain an excellent value? Nicely, it is by decree of the US Authorities and is backed by a monopoly on authorized violence. This particular contract permits the federal government the proper to resolve the liberty of any citizen and in addition the worth of any token they subject.
So that is fairly wild… even in case you purchase a 0.25 Unit Fungible Token for .55 ETH the precise worth of the token itself stays at 0.25 USD. And, on high of that, that is all achieved off chain and with no good contract.
What You Are Truly Shopping for:
One token that has been minted by the federal government and backed by the specter of state violence. This token has no serial quantity and is 100% FUNGIBLE! Every token can solely ever be price 25% of the worth of a USD Coin. It is marked by the date it was minted.
Some tokens are a part of restricted version drops and spotlight one of many fifty states. Unusually, these particular high tokens don’t have any further worth.