ERC-20 Token Standard Explained: The Foundation of DeFi

Every major DeFi token — USDC, LINK, UNI, and thousands more — is an ERC-20 token. Understanding this standard helps you understand what INRC is at its technical core.

What is ERC-20?

ERC-20 (Ethereum Request for Comment 20) is a technical standard that defines a common interface for fungible tokens on the Ethereum Virtual Machine (EVM). Any ERC-20 token implements the same set of functions, making every token compatible with every wallet, exchange, and DeFi protocol automatically.

Core ERC-20 Functions

• totalSupply() — Returns the total token supply
• balanceOf(address) — Returns the balance of an address
• transfer(address, amount) — Sends tokens from caller to recipient
• approve(address, amount) — Allows a spender to use tokens on your behalf
• transferFrom(address, address, amount) — Allows approved transfer
• allowance(owner, spender) — Returns the remaining approved amount

INRC's Extended Implementation

INRC uses OpenZeppelin's battle-tested ERC-20 implementation and extends it with three key modules:

• ERC20Burnable: Adds burn() and burnFrom() functions — allows permanent token destruction
• Ownable: Designates a contract owner with admin privileges (pause, etc.)
• Pausable: Allows the owner to halt all transfers in an emergency

Why OpenZeppelin?

OpenZeppelin's smart contract libraries have been audited by dozens of top security firms and battle-tested in billions of dollars worth of DeFi protocols. Using them instead of custom code dramatically reduces the risk of smart contract bugs.

Fixed Supply: Why It Matters

INRC's 21M token cap is hardcoded — the contract has no mint() function beyond initial deployment. This means no inflation, no dilution, and no artificial supply increases to tank value. Holders can trust the math.