Smart tokens are by Smart Layer (https://www.smartlayer.network/, a programmable blockchain-based service network that claims to address the challenges of integration, privacy, and trust in the digital ecosystem.

“Smart Layer is the missing layer connecting Web2 services to Web3 utility enabling businesses to create better user experiences and gain business efficiencies,” its lightpaper read. 

(Read more: Ultimate Guide to Solana Airdrops 2023 – 2024 and 10 Potential Crypto Airdrops to Watch Out For in 2024)

Basically, to achieve its goal, Smart Layer developed a new layer of integration that enables trustless token logic, which is known as smart tokens. These smart tokens are expected to allow complex interactions with various systems in a decentralized, scalable, and secure manner. 

It is because smart tokens, unlike NFTs and fungible ones, have a programmable interface and are developed to “interact intelligently” with traditional websites, according to its team:  

“Smart Token is a programmable blockchain-based entity that encapsulates business logic, enabling complex interactions with various systems and other tokens in a self-contained, interoperable format.”

How Do Smart Tokens Work?

As its developers emphasized, smart tokens are not just a simple asset, as they are portable and composable applications that will power the next generations of the web. 

Technically, smart tokens are made using TokenScript, a technology developed by Smart Layer to serve as an extension to a smart contract. As smart contract sets the rules, TokenScript adds a layer of code transforming the token into a programmed object that can provide services, the team explained.

“Smart Tokens are made using Token Script, a core underlying technology of Smart Layer that enables any token to become Smart. TokenScript is a framework that allows token issuers to enrich a given token with a wide set of information, rules, and functionalities.”

For lighter terms, we can compare the smart contract to a stageplay script, while TokenScript is the actor of the play, and when the actor acts what is written in the script, a beautiful stageplay is made—smart tokens. 

“This is something a Smart Contract can’t do on its own. While a Smart Contract sets the rules, it doesn’t provide the services based on those rules. TokenScript is a crucial technology that enables the creation and operation of smart tokens,” Smart Layer added. 

Smart Token Real-Life Application

In the introduction part, it is noted that smart tokens are mainly for businesses. This is because Smart Layer eyes to ‌tokenize services and products from websites and applications. 

One basic example is a car ownership smart token. A car manufacturer can issue a smart token to enable car functions from the owner’s wallet as well as the integration of vehicle maintenance or registration data. 

The token can also be used for ‌validation of ownership. It can also be proof for selling the car as a second-hand asset or for car rentals. 

Lastly, the car can also have a token-based record of the maintenance history and insurance information, making it simpler for third parties to leverage this data as part of the services they wish to provide. 

Smart Layer Airdrop – How To Be Eligible

In 2023, Smart Layer developers confirmed that they would reward users who were part of the network’s early community. In fact, the team has allocated 1% of the total supply of $SLN tokens, the network’s utility token, for early community airdrop, and 20% for community rewards. 

$SLN will go live in late 2023 through an exchange listing, hinting that the airdrop will also start in the same time frame. The airdrop also follows a points system.

To join:

Step 1: Go to https://www.smartlayer.network/.

Step 2: On the upper right part, choose the “Register Early” button. 

Step 3: Supply an email address and click “I have read and agree to the Terms & Conditions.”

Step 4: Wait for the network to send the “Smart Pass” to the provided email address. 

Step 5: Confirm the email address. (25 points)

Step 6: Download Google Wallet or Apple Wallet. 

Step 7: Add the smart pass to the wallet. (100 points) 

Step 8: Join the Discord Channel. (150 points)

Step 9: Follow their Twitter account. (100 points) 

Step 10: Refer a friend. (25 points  each, maximum of 25 invites) 

Step 11: Wait for @SLN to go live, to receive the corresponding amount  of token depending on the points earned. 

This article is published on BitPinas: Smart Layer Crypto Airdrop: How To Be Eligible

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