Token Tool by Bitbond

Create MRC20 Token on Polygon PoS

Simple, fast and convenient token generator
No smart contract programming required
Get 100% ownership of generated tokens
Set custom token name, symbol and initial supply
Sign and create with your own wallet
Create token product documentation
To create a token, Connect Wallet first

Polygon PoS MRC20 token generator FAQ

Polygon is considered a Layer 2 scaling network which aims to create a multi-chain blockchain system compatible with Ethereum. As with Ethereum, it uses a proof-of-stake consensus mechanism for processing transactions on-chain. MRC20 tokens are the type of token built on top of the Polygon PoS blockchain. These tokens follow a smart contract standard such as MRC20 or MRC721, allowing them to be easily created, managed, and stored in most Polygon PoS compatible wallets.

Creating MRC20 tokens usually requires smart contract programming, as well as a web3 wallet such as Metamask, and sufficient funds to cover for the token creation fees. Using a token maker makes the process of generating MRC20 tokens much easier and faster. Simply connect to the Polygon PoS network in your wallet and on the token maker to start issuing tokens on that blockchain.

Bitbond Token Tool is a token maker that enables effortless token creation, by simply defining various parameters: name, symbol, total supply, and other customizable features. It’s as easy as filling in a form, then the token maker generates the smart contract code for you. The smart contract gets automatically deployed onto the Polygon PoS blockchain to successfully issue your digital asset.

The short answer is yes! If you don’t have any coding or technical knowledge, then using a token generator such as Token Tool is the perfect solution. It provides a user-friendly interface and pre-built templates that guide you through the token creation process. Token Tool eliminates the need for coding expertise, allowing individuals with limited technical background to create their own MRC20 tokens quickly and easily. You can even try it for free on the Polygon Amoy testnet using faucet MATIC.
Token contracts that are created and deployed with Token Tool use a default contract name that is displayed in the block explorer after contract source code is verified. If you wish to add a custom contract name, you must enable the “Set Custom Token Contract Name” feature. The custom contract name should not contain any spaces and must be in PascalCase (e.g. MyToken).
Using an MRC20 token generator has various benefits for users looking to create and deploy tokens without coding their own smart contracts. The token creation and deployment process is automated and drastically simplified. Token generators also provide customizable options, allowing you to tailor your token features based on your needs and requirements. Token Tool enables you to easily, compliantly, and cost-effectively leverage audited, bank-grade smart contracts, with a proven track record. Simply connect, configure, and create!
Did you create a token using our token maker? Congratulations, you did great! You may need to add a logo to your token or update the token information on the block explorer. This process is usually similar across different networks and is carried out directly via the block explorer’s support, independently of Token Tool. You have to submit a form via the block explorer by providing additional information about your token. Once their support approves it, you will receive access to update token information accordingly.
Yes, you can set a limit on the total supply of your MRC20 token. During the token creation process, you can specify the initial supply for your token and enable the “Set Total Supply Cap”. This allows you to control the maximum number of total tokens that will ever be in circulation, providing scarcity and value to your token economy. Make sure to use this feature meticulously as it cannot be modified after the token contract is deployed to the network.
Yes you can create a token that can be minted and/or burned after deploying it to the network. Simply enable the features “Can burn” and “Can mint” upon creation. These features would allow you to change the token supply after token creation. If you have a total supply cap enabled on your token, you will not be able to mint more than the allowed supply.
You can easily track your MRC20 token’s total supply by simply pasting the contract address of your token in the search bar of the Polygonscan block explorer. Additionally, you can also find information related to your token under the Manage Token function after selecting the respective token from the drop down menu or simply pasting the contract address of your token in the designated field.
Yes, you can use your MRC20 token in decentralized finance (DeFi) applications. MRC20 tokens are widely supported in the DeFi ecosystem and can be utilized for various purposes, including lending, borrowing, liquidity provision, and yield farming. By integrating your MRC20 token into DeFi protocols, you can unlock opportunities for your token holders to participate in decentralized financial activities.

Some properties such as the token name, symbol, and decimals can’t be modified after the token creation and successful deployment to the Polygon PoS network. Depending on the additional features you enable upon creation, it may be possible to carry out modifications under the Manage Token function after creation.

For example: If you enable “Can burn” upon creation of the token, then once you create the MRC20 token and deploy it to the network, you would be able to return to the Manage Token page and decrease the total supply after the initial creation. The asset documentation entry can also be altered after token creation, if this feature is enabled.

To add tax and deflation to your MRC20 token, you must enable “Charge transaction tax / fee” and/or “Burn fee for deflationary token” respectively. You can then configure the parameters to fit your needs. For example: for the tax feature you can configure the token to deduct a 1% fee each time the token is transacted with on the network. You will need to choose a recipient wallet address to which the transaction fee should be automatically credited.

Yes, if you wish to create a reflections token, aka a token with holders reward. simply enable the “Apply Holder Rewards (Reflection Token)” feature upon creating the token. You should then specify the rate for the reward fees in basis points. For example: if you want 1% of the transaction to be allocated to token holders, then you must set the rate to 100 BPS. You can always modify the rate at a later point under the Manage Token section.

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