What is FT?

A fungible token is a type of digital asset that is interchangeable with other tokens of the same kind and holds equal value. Each unit of a fungible token is identical to another, making them mutually interchangeable without any loss of value. This characteristic ensures that fungible tokens can be easily exchanged or utilized in transactions, enhancing their utility within the PrivaSea app.

A fungible token features both a token symbol and a token value. When viewing a fungible token from a specific merchant within the PrivaSea app, users can see the corresponding value and symbol. For example, a token might be represented as "2380 COL," where "COL" is the symbol for the coin, and "2380" indicates its value. This clear presentation of token details enhances the user experience, Same in privasea we can share the FT’s value with another user allowing for easy identification and management of fungible tokens.

Transfer FT Values

Users can transfer the value of fungible tokens to another individual seamlessly within the PrivaSea app. Upon initiating a transfer, the specified value will be automatically deducted from the sender's wallet and credited to the recipient's wallet. Users can also view historical transfer information by clicking the "View Token" button, which provides a comprehensive record of all past transactions involving fungible tokens. This functionality enhances transparency and accountability in token transfers.

FT Token History