MOCKTAIL: The World's First ERC 1155 Standard Semi-Fungible Token (SFT) ON BSC

By adriaparcerisas | ICO Reviews | 1 Jun 2021

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Introduction

The ERC 1155 standard is a new type of standard interface token for contracts that manage multiple token types, where you can include any combination of fungible tokens, non-fungible tokens, etc., in a single contract. MocktailSwap (https://mocktailswap.finance/) is a decentralized exchange platform running on Binance Smart Chain (BSC). Its main token is MOCKTAIL, and it is the world's first ERC 1155 standard semi-fungible token (SFT) on the BSC network.

The token is based on the Binance Smart Chain (BSC) network, which is a blockchain network built for running smart contract-based applications, which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC. What is special about Binance Smart Chain is its low fees and fast transaction speed, but what is even more special is its compatibility with EVM (Ethereum Virtual Machine). Due to EVM compatibility, DApps developed on Ethereum can be ported (imported into Binance Smart Chain as-is), and Ethereum wallets like Metamask can be used as-is.

Definition

Mocktail Finance (https://www.mocktail.finance) is an AMM protocol that incorporates performance optimization of multiple strategies within the Binance Smart Chain (BSC) network, which incorporates a decentralized exchange platform called MocktailSwap.

Mocktail Token is the first semi-fungible token within this MocktailSwap platform. With this platform, Mocktail creates a decentralized, completely secure and fast token exchange system with the main following features:

Complete decentralization
A fully governance-based MOK token economy
Stable positioning of your assets with little or no time loss
Automated and optimized performance to the maximum

How does it work?

The ERC-1155 token standard is a new standard within the Binance Smart Chain network and at the same time a new type of DApp within the Mocktail.Finance platform that provides a new way to make a smart contract govern almost an unlimited number of tokens. Moreover, unlike ERC-721 NFTs that can only be owned by one address each, in this case each token is semi-fungible, whereby each token type can be owned by multiple addresses and each address can own multiple copies of each token.

Exchange
The place on the platform where tokens can be exchanged. The enabled place to do so is available at: https://mocktailswap.finance/. Being within the Binance Smart Chain network, the exchange is done with minimal fees for the liquidity provider.

Liquidity
In simple terms, liquidity describes how quickly and easily an asset can be bought or sold, also taking into account how change can affect its price.

Farming
The currently known farming is the best way to generate cryptocurrencies through one's own cryptocurrencies. The idea is that when you do farming, you lend funds to other users through smart contracts, which are then returned with rewards.

Staking
Group of holders who merge their resources into a token pool to increase their chances of validating blocks and receiving rewards proportionally according to their contributions in the pool.

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Bounty program

The project gives the opportunity to earn MOCKTAIL (MOK) tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (BTT_Thread_Mocktail), where you can access the link in order to see what are the conditions to become an early Mocktail contributor and start acquiring tokens.

For more information about the project, you can visit and read their WhitePaper available here (https://docs.mocktailswap.finance). You can also stay tuned in their official Telegram Channel (https://t.me/MocktailSwap). I hope you liked the post and soon I'll send you new ones.