Creating a token on peaq is straightforward and can be done in just a few minutes using Token Tool. Follow this comprehensive guide to get your token up and running quickly.

About peaq Network

peaq is a next-generation blockchain network that works as the layer-1 backbone of the Machine Economy, co-built and co-owned by the people and machines that exchange goods, services, and value via DePINs on peaq. peaq offers several advantages, making it an ideal choice for creating and managing digital assets:

1. Scalability: peaq utilizes advanced consensus mechanisms to ensure high transaction throughput of 10,000 TPS at launch and low latency, making it suitable for large-scale applications.
2. Security: With robust cryptographic techniques and decentralized infrastructure (Nakamoto Coefficient of 130+), peaq provides a secure environment for digital transactions.
3. Interoperability: peaq supports seamless integration with other blockchain networks, enabling cross-chain functionalities and enhancing the versatility of your token.
4. Low Fees: peaq’s efficient architecture minimizes transaction costs, making it economically viable for various use cases.

Below you will see how to easily create a token on peaq in just a few minutes without any coding.

• Go to Token Tool
• In the dashboard select “Create Token” to start your token creation process.

Step 2: Connect Your Wallet

• Connect your preferred wallet to the Token Tool platform. Ensure that your wallet supports peaq. You can find the information on wallets that support peaq here.
• Select peaq from the list of available networks.

Step 3: Configure Token Details

1. Token Name: Enter the name of your token.
2. Token Symbol: Choose a unique symbol for your token (e.g., PGT for peaq Gold Token).
3. Decimal Places: Set the number of decimal places for your token, typically 18.
4. Total Supply: Define the total supply of tokens you want to create.

Step 4: Additional Settings

You can choose from a selection of features to enable for your token contract. Examples can be such as having a burn feature for your token or adding taxes per transaction.

Make sure to refer to our documentation for all details about the features.

Step 5: Review and Confirm transaction by paying fees

1. Review all the details you have entered to ensure they are correct.
2. Click the “Create Token” button to proceed. You need to ensure that you have sufficient PEAQ tokens to cover for service fees + network fees. This will initiate a transaction in your wallet, review and complete payment. 
3. Once the transaction is approved and processed, your token will be deployed on peaq.
4. You can view your newly-created token in your wallet, in our portfolio tracker, or on the peaq subscan block explorer.

Watch our demo video for a step-by-step walk through on how to create a token on peaq:

Advantages of Using peaq Network for Your Token

1. Efficiency: peaq’s optimized blockchain ensures fast transaction processing and confirmation times.
2. Eco-Friendly: peaq is built on Web3’s greenest technological stack, giving builders an environmentally-friendly layer-1 backbone.
3. Developer-Friendly: Comprehensive SDKs and APIs make it easy for developers to integrate and build on peaq, fostering innovation and ease of use.
4. Community Support: A vibrant and active community provides ample support and resources for developers and users alike.

Conclusion

Creating a token on peaq using Token Tool is a quick and user-friendly process. With just a few steps, you can have your own token ready for various applications. Whether you’re creating a token for a new project, a loyalty program, or any other use case, Token Tool provides the flexibility and features you need.