Fungible Token
A fungible token is a digital asset that is interchangeable with another token of the same type and value. This interchangeability means that each unit of the token holds the same value and can be exchanged on a one-to-one basis. Cryptocurrencies like USDT or ApeCoin are prime examples of fungible tokens, where each coin or token is identical in value.
For web3 developers, creating fungible tokens for the EVM ecosystem typically involves adhering standards like ERC-20, which defines a common set of rules for token interactions and ensures compatibility across various platforms and applications.