Overview

Various EVM-compatible blockchains let you create, transfer, and trade tokens. Tokens you create on EVM-compatible blockchains can be stored, transferred, and managed using Fireblocks.

EVM blockchains use smart contracts to facilitate asset tokenization. Each token created on an EVM blockchain is associated with a specific smart contract that dictates the details and available actions of the token.

Before you can create and manage your EVM tokens on Fireblocks, you must have a vault account with an asset wallet of the base asset of the blockchain on which you plan to deploy your smart contract. For example, if you plan to deploy your smart contract on Ethereum, you should create or already have an ETH wallet.

You must also update your Transaction Authorization Policy (TAP) to include rules for contract calls, deploying smart contracts, and minting and burning tokens.

Issuing tokens

To issue a new token, you must deploy a smart contract to govern the token. You can use one of the smart contract templates Fireblocks provides or build a custom smart contract.

• Smart contract templates: Fireblocks offers pre-built smart contracts that you can use to create your EVM tokens. These smart contract templates let you quickly start the tokenization process on EVM-based blockchains. Learn more about each smart contract template.
• Custom smart contracts: You can build your smart contracts using external tools and then use the Fireblocks API to upload them to your workspace. Smart contracts that you upload are only available to your specific workspace. When creating custom smart contracts, make sure you follow Ethereum's ERC-20 token standard.

You can use the Fireblocks Console to define the token details and deploy the associated smart contract. You can also use the Fireblocks API to deploy the contract. After deployment, the new token is automatically registered and can be used within Fireblocks. You can also add asset wallets to hold the new token in your workspace.

Managing tokens

After deploying the smart contract, you can manage the newly created token by calling specific functions. Below are some common functions during the tokenization lifecycle.

• Approve: Set an amount as the spender’s allowance for withdrawing the token.
• Burn: Reduce the supply of the token.
• Decrease allowance: Decrease the spender’s allowance for withdrawing the token.
• Mint: Increase the supply of the token.

You can use the Fireblocks Console or the Fireblocks API to interact with the smart contract and call functions. You can also mint and burn tokens directly from the Console’s Tokenization page.