The Mina Protocol, a next-generation succinct zero-knowledge (ZK) blockchain, has achieved a pivotal milestone with the successful audit and official release of its Fungible Token Standard. This development unlocks powerful new capabilities for developers to create, manage, and deploy custom tokens on Mina’s lightweight, privacy-first network. With support for real-world assets (RWA), on-chain gaming, decentralized finance (DeFi), and beyond, the standard marks a significant leap forward in expanding Mina’s zkApp ecosystem.
Backed by rigorous security validation and designed for flexibility, this standard empowers builders to innovate securely while leveraging Mina’s unique 22KB blockchain size and zero-knowledge architecture.
Security Validated by Industry Experts
Before public release, the Mina Fungible Token Standard underwent a comprehensive security audit conducted by Veridise, a leading firm specializing in formal verification and cryptographic security. The audit covered both the core fungible token smart contract implementation and critical components of the o1js library—the primary development framework for zkApps on Mina.
The process identified several issues across critical, high, medium, and low severity levels—all of which have since been fully resolved. This proactive approach ensures robustness and trust in the token standard from day one. Developers can review the complete findings and remediation details in the publicly available audit report, reinforcing transparency and security best practices.
👉 Discover how you can start building secure tokenized applications today.
Key Features of the Mina Fungible Token Standard
Built with developer experience and ecosystem scalability in mind, the Mina Fungible Token Standard offers a suite of powerful, modular features that enable flexible token logic without compromising on security or interoperability.
Custom Token Creation via Smart Contracts
Developers can now deploy smart contracts that function as token managers, giving them full control over token behavior. These zkApps serve as the central authority for minting, burning, and managing transfers—allowing for highly customizable economic models tailored to specific use cases.
Unique Token Identifiers for Global Distinction
While token symbols (like “MINA” or “USD”) are not required to be unique, each token is assigned a cryptographically secure identifier derived from the public key of its manager contract. This ensures that every token remains globally distinguishable within the network, preventing naming conflicts and enabling safe interactions across decentralized platforms.
Flexible Supply Management
Token creators define supply rules at deployment time. Whether launching a fixed-supply governance token or a dynamic stablecoin with adjustable issuance, developers can implement logic for:
- Minting new tokens under predefined conditions
- Burning tokens to reduce supply
- Freezing or restricting operations based on time, ownership, or external triggers
This level of programmability brings DeFi-grade functionality to Mina’s zkApp environment.
Secure Transfer Mechanism
Any user account can initiate a token transfer, but execution requires approval from the Token Manager zkApp. This design enforces security by ensuring all transactions comply with the contract’s embedded rules—such as KYC checks, transfer limits, or compliance logic—without revealing sensitive data thanks to zero-knowledge proofs.
Native Integration with zkApps
One of the most transformative aspects of this standard is its seamless integration with other zero-knowledge applications. Developers can build interoperable zkApps that interact with fungible tokens—for example:
- A privacy-preserving lending protocol that uses tokenized real estate as collateral
- A game where in-game currency is used across multiple titles via shared zk logic
- A DAO voting system where governance tokens verify eligibility without exposing holder identities
This composable nature amplifies Mina’s vision of a private, interconnected web3 ecosystem.
Real-World Use Cases Enabled by the Standard
The Mina Fungible Token Standard opens doors to innovative applications across multiple domains, combining privacy, scalability, and real-world relevance.
Tokenized Real-World Assets (RWA)
From real estate to commodities and financial instruments, RWAs can now be represented as secure, verifiable tokens on Mina. Thanks to zk-proofs, asset ownership and compliance status can be validated without exposing confidential details—ideal for regulated environments.
On-Chain Gaming & Reward Systems
Game developers can issue in-game currencies, loyalty points, or reward tokens that players truly own. These assets can be traded, verified, or used across games—all while maintaining user privacy and minimizing on-chain footprint.
Decentralized Finance (DeFi) Innovation
With custom tokens available, Mina becomes fertile ground for DeFi protocols including:
- Decentralized exchanges (DEXs) with private swap functionality
- Lending platforms using tokenized collateral
- Yield-bearing synthetic assets backed by off-chain value
All built with minimal data storage and maximum privacy.
Governance and DAOs
DAOs can launch governance tokens that allow members to vote on proposals. Using zk-proofs, participation can be verified without disclosing individual votes or wallet balances—enhancing both fairness and privacy.
Stablecoins and Synthetic Assets
Developers can create algorithmic stablecoins or synthetic representations of fiat currencies, stocks, or commodities—all secured by Mina’s succinct blockchain and integrated with off-chain data via zk-proof oracles.
👉 Explore how zero-knowledge technology is reshaping digital asset creation.
How to Get Started Building on Mina
The Mina Fungible Token Standard is now live and ready for adoption. The Mina Foundation encourages developers to explore the reference implementation hosted on GitHub, which includes tested contract templates and integration patterns.
You can access the full codebase here:
github.com/MinaFoundation/mina-fungible-token
Additionally, comprehensive documentation is available at:
docs.minaprotocol.com/zkapps/standards
This resource includes:
- Step-by-step setup guides
- API references for o1js integration
- Sample code for minting, transferring, and burning tokens
- Best practices for secure deployment
Developers are also invited to join the vibrant Mina community on Discord to collaborate, share projects, and get technical support. A dedicated Office Hours session is scheduled for August 29, 2024, focusing specifically on the fungible token standard.
Frequently Asked Questions (FAQ)
Q: What makes the Mina Fungible Token Standard different from ERC-20?
A: While inspired by ERC-20, Mina’s standard is built natively for zkApps using o1js. It leverages zero-knowledge proofs for private transfers and integrates directly with Mina’s 22KB blockchain architecture—offering superior privacy and efficiency compared to traditional models.
Q: Do I need special tools to create tokens on Mina?
A: Yes—you’ll use o1js, Mina’s TypeScript-based library for writing zero-knowledge smart contracts. It allows you to write complex logic that compiles into SNARKs, enabling private computation and verification.
Q: Can I launch a stablecoin using this standard?
A: Absolutely. The standard supports customizable supply mechanisms and external data integration via zk-proof oracles, making it well-suited for algorithmic or collateralized stablecoins.
Q: Are there gas fees for token transactions?
A: Like all transactions on Mina, token operations incur minimal fees paid in MINA tokens. Due to Mina’s constant-sized blockchain, fees remain predictable and low.
Q: Is the token standard upgradeable?
A: The core logic is designed to be immutable once deployed for security reasons. However, developers can build upgradeability into their own contracts if needed—though it's recommended only with proper governance safeguards.
Q: How do I ensure my token complies with regulations?
A: You can embed compliance rules directly into your token manager zkApp—such as whitelisting addresses or verifying accredited investor status—using zero-knowledge proofs to enforce rules without exposing personal data.
Final Thoughts
The release of the Mina Fungible Token Standard represents more than just a technical upgrade—it's a foundational step toward a more expressive, private, and interconnected web3 future. By enabling developers to build custom tokens with embedded logic and privacy-preserving features, Mina strengthens its position as a leader in zero-knowledge innovation.
Whether you're building DeFi protocols, gaming economies, or tokenized asset platforms, now is the time to explore what's possible on Mina.
👉 Start building your next-generation token project with cutting-edge ZK tools.