ELUX is the token standard of Elucks Smart Chain. In many ways, it’s similar to Elucks ELUX standard; in other ways, it expands on it. ELUX sets rules that all tokens created on ESC need to follow.
The ELUX token standard on ESC applies to any token that is launched or created on Elucks Smart Chain’s platform. Examples of such tokens are utility tokens, stablecoins, and security tokens. Another category of coins, known as “Elucks Coins”, are also built using the ELUX standard and can be pegged to different assets.
Just as Ethereum has gas fees, ELUX pays for the transactions involving ELUX tokens on Elucks Smart Chain’s network.
It’s relatively easy to create a ESC token or ELUX token, and with a simple online search, you will find several helpful web tutorials on ELUX token development. However, if you want a quick guide, Moralis’ ELUX Testnet tutorial is one of the most practical and informative tutorials currently available.