Wrapped QUIL (WQUIL) is a wrapped ERC-20 token of Quilibrium's native QUIL coin, designed for cross-chain use. But with minimal adoption, no audits, and falling prices, it's more speculation than substance.
ERC-20 Token: What It Is, How It Works, and Why It Powers Most Crypto Projects
When you hear about a new crypto coin like ERC-20 token, a standardized digital asset built on the Ethereum blockchain that allows seamless transfers and integration with wallets and exchanges. Also known as Ethereum token standard, it’s the reason you can send UNI, LINK, or even meme coins like KABOSU without needing a separate network. It’s not a coin like Bitcoin—it’s a rulebook. Every ERC-20 token follows the same set of instructions, so your MetaMask, Coinbase, or any other wallet knows exactly how to read its balance, send it, or display it. No confusion. No guesswork.
This standard makes it easy for developers to build new tokens without reinventing the wheel. Instead of coding a whole blockchain, they just write a smart contract that follows the ERC-20 rules. That’s why over 90% of tokens on Ethereum use it. It’s also why you see so many scams—because anyone can create an ERC-20 token in minutes. A token called CNC or NEVER might look real, but if it has zero trading volume and no team behind it, it’s just code with no value. The standard doesn’t guarantee legitimacy—it just makes distribution easy.
ERC-20 tokens rely on smart contract, self-executing code on the Ethereum blockchain that automatically handles token transfers and rules like supply limits or transfer fees. These contracts are public, so you can check them on Etherscan. But reading them? That’s not for everyone. Most users just trust the project’s website or a token’s listing on a major exchange. That’s risky. Many airdrops—like the fake ARV x CoinMarketCap one—use ERC-20 tokens to trick people into signing malicious contracts. Always check the contract address. Never click "approve" on a token you don’t recognize.
The real power of ERC-20 isn’t just in trading. It’s in DeFi. Platforms like Bancor and Curve use ERC-20 tokens to let you swap, stake, or lend without a middleman. Even when a project fades—like WagyuSwap’s WAG tokens—the token itself still exists on the blockchain. You might still hold it, but no one will trade it. That’s why knowing the difference between a token and a real project matters. An ERC-20 token can be worthless, but the standard behind it? That’s the foundation of modern crypto.
You’ll find posts here that cut through the noise. Some look at fake tokens pretending to be real. Others explain how to spot a scam airdrop using ERC-20 addresses. There are guides on how to check token contracts yourself, why some exchanges delist ERC-20 tokens, and how the Ethereum network handles the load from millions of these tiny digital assets. Whether you’re holding a meme coin or researching a DeFi protocol, understanding ERC-20 is the first step to knowing what you’re really dealing with.