A token where each unit is interchangeable with any other unit of the same type, like currency.
Fungible tokens represent identical units; holders are indifferent to which unit they own. This contrasts with NFTs (non-fungible tokens), where each token is unique.
USDC or DAI on EVM chains are fungible; any 1 unit is the same as another for payments or DeFi operations.
Used for payments, governance votes, liquidity provision, and collateral. Standards like ERC-20 enable wallet and exchange interoperability.
Liquidity pools generally require equal-value deposits of fungible tokens, such as an ERC-20 pair.
All terms and definitions may update as the Cryptionary improves.