Why should you create a crypto token?

Libonomy
3 min readJun 25, 2021

With blockchain technology becoming a significant part of our everyday lives, it would only be fair that the possibility to benefit from it should also be available to everyone. That is what Libonomy has done with our One Click smart contracts — now you can make your own crypto token within minutes without any prior knowledge.

The whole system has been tailored for the average user so that it is possible to customize and create a crypto token without having specific knowledge about computers or coding. All you need to do is to set the name and few other parameters you want your new token to have, done. Everything else is fully automated for your convenience.

Why should you create a crypto token?

How can I use my own token?

Every business now uses various token mechanics, they just call them in different, old names, as they are using old technology. The voucher, the gift card, the reward or loyalty programs — all of them could just be considered as different types of tokens if they were created on a blockchain.

If you have a referral system, what was once considered to be a “point” added to your account can now be a token added to your wallet. While these points have previously been tied to a specific account, they can now be traded and shared among users.

A gift card system is even more straightforward. The person buys a gift card in the shape of a token and there is nothing more you have to do. There is no need for paper gift cards to be sent and redeemed, no need for a complicated system that creates the “gift codes” so that they can not be counterfeited, no need for personal information, no need for a system that keeps track of the gift cards already used. A person from anywhere in the world buys the gift card, sends it to someone on the other side of the globe and the receiver then pays with it. No need to check anything — if you have a gift card token, it is clear that everything is paid for.

Access

If the company or community functions on a “pay to access” module, a token can be the key that opens the door. Like a password or a VIP ticket that lets you access a part of a service that is closed to others. It can be bought or even be given to users as a gift for their prolonged support or helpful deeds. And these too are expected to rise in value when your business grows larger.

Fundraising

Many crowdfunding companies take a lion’s cut out of the raised funds. With a token system you do not need them. Make your own token, send the information to your friends and acquaintances and control the incoming funds yourself, without anyone telling you what rules to follow and how much of the money you will actually get. Sold tokens can be anything: a key to a thank you card, a gift card in the upcoming business or even a vote in your future company.

Votes

You can conduct opinion polls and votes based on tokens. By giving the tokens to every buyer or long-time member, you can ensure that only those people who have the best interests in mind actually cast their vote. The more a person has invested in your company, the more tokens and votes they could have.

The independence you need

Your imagination has no boundaries, everyone is free to use their digital assets as they wish. Trade with someone across the world in a split of a second, create unseen possibilities for your community or the most transparent charity ever. All the control is back in your hands again. No third-party services setting the rules or taking a huge percentage for using their services. Blockchain gives you the security and reliability that you need, and best of all — now it’s easier than ever. You don’t even need an expert to make a token, everything can be done by yourself. You yourself can now create exactly what you want on our fast, secure and inexpensive network which is available always, anywhere in the world!

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Libonomy

Universal blockchain platform connecting blockchains together and powering fast and efficient decentralized solutions.