# Standard Token

* ️Most ideal for utility.
* No extra functions like transaction tax
* Basic Send/Approve/Allowance Contract  
* An ERC20 token contract keeps track of fungible tokens: any one token is exactly equal to any other token; no tokens have special rights or behavior associated with them. This makes ERC20 tokens useful for things like a medium of exchange currency, voting rights, staking, and more.

![](https://3014103014-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Ml9ulifCpICTmeiTKjF%2F-MlKCU8-JqZGqzfpLL0h%2F-MlKCiXRp7KaDGPL33lv%2FScreenshot%202021-10-06%20at%204.16.57%20PM.png?alt=media\&token=12e7ab69-0db8-47d8-a898-746d541c6862)