Fungible token mints

By: Geeq  on Sep 14, 2022

At public mainnet, there will be three asset classes that a standard Geeq coin account will be able to control: $Geeqs, NFTs, and fungible tokens. Only the first was on the original roadmap, however, the Geeq team subsequently invented a method for secure atomic swaps without smart contracts.

After many inquiries about whether Geeq’s combination of security, low transaction costs, and ease of use could support other token types, we made the decision in mid-2022 to include NFTs and fungible tokens on the roadmap for public mainnet. Including support for these subgroups means the Geeq ecosystem will be able to expand in every dimension as the world moves toward tokenization.

Fungible token mints and transactions build on and extend the technology for NFTs and do not require smart contracts. When the mint is created, the total supply for that fungible token must be designated and cannot be changed. Geeq’s multi-chain architecture scales, so an unlimited number of mints and transactions can take place within Geeq’s own ecosystem.