STX-20 is a new token protocol launched on the Stacks blockchain, allowing users to create and distribute their own tokens.
If you're wondering how to get started with STX-20 tokens, this blog has you covered on the key steps.
Skip Everything Else. How Do I Mint?
If you’re looking for the TL;DR, then first you'll need a Stacks wallet like Leather to hold STX tokens required for transaction fees.
Inside Leather, use the built-in "Buy" feature to purchase STX directly in your wallet. Then head to stx20.com to connect your Leather wallet and mint new STX-20 tokens.
When minting tokens, be sure to create a separate Leather account to use as your destination address. This keeps your new tokens safely separated from your main STX holdings. The stx20.com portal shows minting limits for each token project. You can mint multiple times, but each transaction requires its own fee.
STX-20 or BRC-20?
The main difference between STX-20 and BRC-20 tokens is the blockchains they’re based upon. STX-20 is enabled through the Stacks blockchain, while BRC-20 is on Bitcoin. We’ve previously covered BRC-20 tokens in-depth in our blog, What is the BRC-20 Token Standard?
When BRC-20 tokens launched on the Bitcoin network in March 2023, they heavily contributed to the rapid growth of the collectibles market on Bitcoin. The same potential has been unlocked for Stacks via STX-20.
What is Stacks?
The Stacks Network is a Bitcoin layer that employs smart contracts and makes use of the STX native token to make the Bitcoin blockchain programmable.
With the recent surge of Bitcoin transactions by way of the success of Ordinals, Stacks has witnessed a spike in interest from developers. Due to its unique characters, including its Proof of Transfer (PoX) consensus used to incentivize Stacks miners and participants, and its use of the Clarity smart contract language – Stacks has become one of the go-to L2 and sidechain solutions for Bitcoiners.
What Can I Do With STX-20?
Once your new tokens are minted, HODL! Currently, there is no marketplace for trading STX-20 projects. The functionality is just days old at the time of this post.
The Leather team is working on native STX-20 integration, but for now, you can simply check balances manually through the official API, as needed.
While these new tokens don't have much utility yet, it's still an exciting time to experiment with STX-20 and watch as the infrastructure improves. Just remember – DYOR and memecoin at your own risk.
If you’re ready to begin your Bitcoin and Stacks journeys, make sure to start by downloading Leather.
