Glossary: Tokens

Tokens are blockchain assets whose behavior is defined by a contract or protocol. For analytics, identify a token by chain and contract address rather than ticker alone, and distinguish wallet balances, protocol deposits, transfers, and market value.

How tokens are identified

On EVM chains, a token is commonly identified by its contract address and chain. Standards such as ERC-20 define common interfaces for fungible tokens, while ERC-721 and ERC-1155 support non-fungible or semi-fungible assets. The same contract address format can exist on different chains, so analytics should retain the chain identifier as part of the asset key.

Tokens in onchain analytics

Token data can include transfers, balances, prices, supply, holders, protocol positions, and transaction context. These measures answer different questions. A balance is a quantity at a point in time; transfer volume is activity over an interval; market value depends on a price source and timestamp. Protocol-held balances may differ from tokens in a wallet, and wrapped or bridged representations may track related assets without being identical contracts.

Example

An analyst measures the number of wallets holding a stablecoin on two chains. The query should specify the token contract on each chain, decide whether protocol deposits count, use a consistent balance timestamp, and state how dust balances and unpriced assets are handled.

Common mistakes

• Matching tokens by ticker symbol alone; symbols can be duplicated or misleading.

• Comparing token quantities without considering decimals or price timestamps.

• Assuming a token balance equals a wallet’s total value or protocol TVL.

• Combining bridged, wrapped, and native assets without documenting the mapping.

Related reading

Explore ERC-20, Token Balances, Stablecoins, Tokenomics, and TVL (Total Value Locked).

FAQs

What is the difference between a token and a coin?

Coin commonly refers to a chain’s native asset, while token usually refers to an asset issued by a smart contract. Usage varies, so name the chain and asset standard when precision matters.

What is a token balance?

It is the quantity of a particular token held by an address or account at a given point or block, subject to the data provider’s indexing and pricing rules.

Are all tokens interchangeable?

No. Tokens can represent governance rights, stable value, access, claims, or other functions, and their contract behavior and risks differ.