Tokens & Vault
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For DevelopersSpydra Platform
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Spydra's Token Engine is a powerful component of the Spydra platform that enables the creation and issuance of tokens. It provides a seamless and efficient way to tokenize various assets, including currencies, securities, real estate, and more.
With the Token Engine, users can define the specific characteristics and properties of their tokens, such as supply, divisibility, and transferability. This allows for the customization of tokens to meet specific business requirements and regulatory compliance.
The Token Engine utilizes smart contract technology on blockchain networks to securely create and manage tokens. It ensures transparency, immutability, and traceability of token transactions, providing a trusted and decentralized environment for token issuance.
Spydra's platform enables customer's to create both fungible and non-fungible tokens.
Fungible tokens are a type of digital asset that can be exchanged on a one-to-one basis. Each token is identical and interchangeable with other tokens of the same type. Fungible tokens are commonly used for representing currencies or commodities, where each unit has the same value as any other unit. They are stored and managed on blockchain platforms and enable seamless transactions between participants.
Non-Fungible Tokens (NFTs) are a unique type of digital asset that represent ownership or proof of authenticity of a specific item or piece of content. Unlike fungible tokens, each NFT is distinct and cannot be exchanged on a one-to-one basis. NFTs are often used to represent digital collectibles, artwork, virtual real estate, or in-game items. Each NFT has its own unique value and cannot be replaced by another token.
Spydra follows ERC-1155. ERC-1155 is a token standard on the Ethereum blockchain that allows for the creation of both fungible and non-fungible tokens. It provides a more efficient and flexible way to manage multiple token types within a single smart contract.
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Spydra uses vaults to facilitate the fractionalization of assets. Fractionalizing assets refers to the process of dividing a single asset into multiple smaller shares, allowing for broader ownership and investment opportunities. By tokenizing the asset and representing it as fungible tokens, the vault allows users to purchase and own fractional shares of the asset.
Custodian is a crucial concept of vault. Custodian refers to a trusted entity or organization that holds and safeguards assets on behalf of others. Custodians play a crucial role in ensuring the security and integrity of digital assets.
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