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Token standards

Intermediate
Tokens

Tokens deployed on ICP must adhere to a standard. The network's native token, ICP, adheres to its own standard as it is unique on the network in the sense that it is used for network utility and governance. Tokens created for other purposes on the network typically adhere to one of the ICRC standards.

ICRC stands for `Internet Computer Request for Comments.' ICRC standards are proposed by the community working group and are not specific to tokens; they can be created for anything on ICP, such as services, canister calls, or authentication methods. However, this documentation will detail the ICRC standards that are specific to tokens.

How standards are created​

  1. The ICRC working group creates an initial proposal for an ICRC standard.

  2. The proposal is agreed upon through a rough consensus of the working group as a starting point for the standard.

  3. The proposal is refined through improvement iterations by the working group.

  4. Once the proposal is deemed ready for implementation by the working group, it is proposed to the NNS through an NNS proposal.

  5. The ICRC standard is either adopted or rejected by the NNS.