How does the approval process for ERC721 tokens work in the world of digital currencies?

1 answers

• Dec 18, 2021 · 3 years ago
  At BYDFi, the approval process for ERC721 tokens in the world of digital currencies is designed to be transparent and community-driven. Token issuers submit their proposals to the BYDFi community, which consists of token holders, developers, and other stakeholders. The community reviews the proposals and provides feedback, ensuring that the tokens meet the community's standards and requirements. Once a proposal receives sufficient support and passes the community vote, it is approved, and the token is listed on the BYDFi platform. This community-driven approval process ensures that only high-quality and valuable ERC721 tokens are available for trading on BYDFi.
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