DeeLance Network
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  • Introducing DeeLance Blockchain
  • BASIC KNOWLEDGE
    • What is Blockchain
  • welcome to DeeLance
    • Overview
    • About DeeLance
    • Ecosystem
    • ERC20 DLANCE Token
    • Community
  • GETTING STARTED
    • Add DeeLance to Metamask
    • Get Testnet Funds
    • Core Concepts
      • Genesis File
      • Consensus
      • Proof of Stake (Pos)
      • Understanding pBFT
      • Research
      • Scalability
    • Developer Guide
      • RPC
      • DeeLance Testnet
      • Deelance Explorers
      • Deploy Smart Contract
        • Using Remix IDE
        • Using Truffle
        • Using Hardhat
  • Dive Into DeeLance Move!
  • Staking
    • Overview
    • User Guide
  • Validator
    • Overview
    • Run validator
    • Create Validator
    • Secure Validator
  • Node Operators
    • Node Best Practices
    • Node Types
      • Bootnodes
      • Full Node
      • Archive Nodes
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  • Usage of ERC20 dlance Token:
  • Migration to Dlance Native Coin on the deelance blockchain:
  • Benefits of the Dlance native token on the deelance blockchain:
  1. welcome to DeeLance

ERC20 DLANCE Token

Usage of ERC20 dlance Token:

The ERC20 dlance token is compliant with the ERC20 standard on the Ethereum blockchain. This means it's compatible with Ethereum wallets, can be traded on Ethereum-based exchanges, and can be used with smart contracts specifically crafted for ERC20 tokens. Within the deelance ecosystem, the dlance token might have various applications, such as:

  • Acting as a medium of exchange.

  • acting as payment method in ecosystem

  • Potentially representing assets or other values unique to the deelance platform.

ERC20 dlance token as a starting point on the Ethereum network. However, with the growth and specific needs of the platform, a migration to our proprietary DeeLance blockchain becomes essential.

Migration to Dlance Native Coin on the deelance blockchain:

  • The deelance team began with the ERC20 dlance token on the Ethereum platform. But given the platform's evolving demands and growth, transitioning to our exclusive deelance blockchain has become crucial.

  • This transition will typically involve a token swap. Holders of the ERC20 dlance token will likely be given directives on sending their tokens to a particular address or using a specific swapping mechanism where their ERC20 tokens will be "locked". Subsequently, they will receive the native Dlance coins on the deelance blockchain.

  • The conversion rate during the swap could vary and will announce at later stage

Benefits of the Dlance native token on the deelance blockchain:

  1. Improved Scalability: Native tokens on dedicated blockchains can often handle more transactions per second, offering smoother and faster operations than tokens on congested networks like Ethereum.

  2. Reduced Transaction Fees: Without having to compete for block space on Ethereum, Dlance native token transactions might have significantly lower fees.

  3. Tailored Governance: The native token can be integrated with a governance system that allows token holders to participate in decision-making specifically tailored to the deelance ecosystem.

  4. Enhanced Security: With a proprietary blockchain, the deelance team will implement custom security measures, making the network more resilient to attacks.

  5. Integrated Features: The native token could support advanced features and utilities directly built into the deelance blockchain, without the limitations of the ERC20 standard.

  6. Interoperability: The deelance blockchain could be designed to seamlessly interact with other blockchains, enhancing the utility of the Dlance native token.

  7. Economic Incentives: There might be staking, farming, or other economic incentives tied directly to the Dlance native token, promoting user engagement and investment in the ecosystem.

  8. Green Initiatives: Deelance blockchain employs a more energy-efficient consensus mechanism than other Blockchains , then using the native token could be more environmentally friendly.

  9. Dedicated Support: With a token native to its platform, any issues, upgrades, or changes can be directly managed by the deelance team, ensuring faster resolutions and more responsive adjustments.

  10. Enhanced Adoption: A unique and dedicated blockchain could attract more partnerships and integrations, increasing the utility and demand for the Dlance native token.

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Last updated 3 months ago