Utility Tokens

Welcome to the Utility Tokens documentation. This guide provides an overview of utility tokens and their usage within our platform. Utility tokens serve various purposes, including gaining access to services, receiving discounts, staking for rewards, and voting on platform changes.

Table of Contents

• Utility Tokens

  • Service Access

  • Discounts

  • Staking

  • Voting Rights

• Developer Documentation

  • Creating a Utility Token

  • Purchasing Utility Tokens

  • Redeeming Utility Tokens for Service

  • Checking Token Balance

  • Transferring Utility Tokens

Utility Tokens

Utility tokens are a type of cryptocurrency token used within our platform. They provide specific benefits and functionalities to users. Here are the key features of utility tokens:

Service Access

Utility tokens are used to gain access to specific services or modules on our platform. Users need to hold and use these tokens to unlock various features and functionalities.

Discounts

By using utility tokens to pay for services, users can often benefit from discounts or reduced fees. This incentivizes users to use utility tokens for transactions, creating value for token holders.

Staking

Some platforms allow users to stake their utility tokens. Staking involves locking up tokens for a specific period, which can contribute to the platform's stability and security. In return, stakers may earn rewards, such as additional tokens.

Voting Rights

Holders of utility tokens are granted voting rights. This means that they have the authority to vote on important platform changes, governance decisions, or protocol upgrades. It gives token holders a say in the platform's evolution.

Developer Documentation

For developers and platform integrators, here are the API endpoints and payloads related to utility tokens:

Creating a Utility Token

Use the following API endpoint to create a utility token:

API Endpoint: POST /api/token/create

Payload:

{
  "type": "utility",
  "name": "Example Service Token",
  "symbol": "EST",
  "initialSupply": 500000,
  "decimals": 2
}

Purchasing Utility Tokens

To purchase utility tokens, use the following API endpoint:

API Endpoint: POST /api/token/purchase

Payload:

{
  "userId": "user123",
  "amount": 50,
  "tokenType": "EST"
}

Redeeming Utility Tokens for Service

To redeem utility tokens for a service, use this API endpoint:

API Endpoint: POST /api/service/redeem

Payload:

{
  "userId": "user123",
  "serviceId": "service789",
  "tokenType": "EST"
}

Checking Token Balance

To check the token balance for a user, use this API endpoint:

API Endpoint: GET /api/token/balance?userId=user123&tokenType=EST

Transferring Utility Tokens

To transfer utility tokens between users, use the following API endpoint:

API Endpoint: POST /api/token/transfer

Payload:

{
  "fromUserId": "user123",
  "toUserId": "user456",
  "amount": 10,
  "tokenType": "EST"
}

These API endpoints and payloads enable you to manage utility tokens within our platform efficiently. If you have any further questions or need assistance, please refer to our developer documentation or reach out to our support team.