The First Blockchain Standard
MistCoin is a historic Ethereum collectible and the origin of every ERC-20 token.
MistCoin
Shortly after Ethereum’s launch in 2015, Ethereum deployed MistCoin, a 1 million supply collectible coin, as a prototype to test the concept of standardized token creation. This experiment paved the way for the now widely adopted ERC-20 token standard, forever shaping the Ethereum ecosystem.
Weeks after MistCoin launched, Vitalik Buterin and Fabian Vogelsteller proposed the ERC-20 standard, now used by the majority of tokens on Ethereum today.
- MistCoin Contract Address (MC): 0xf4eCEd2f682CE333f96f2D8966C613DeD8fC95DD
- Total Supply: 1,000,000 MistCoin (approx. 400,000 circulating)
- Wrapped MistCoin Contract Address (WMC): 0x7Fd4d7737597E7b4ee22AcbF8D94362343ae0a79
Ethereum developers Fabian Vogelsteller and Alex Van de Sande, key members of the Mist team, deployed MistCoin as one of the earliest tokens on Ethereum. MistCoin was simple—its only functions were transfer and balanceOf. In July 2022, Daniel Bernstein extended MistCoin with a wrapper contract that implemented modern ERC-20 functionality, enabling MistCoin to be traded as $WMC on Uniswap.
The creators of MistCoin, Fabian and Alex, mention MistCoin on Twitter/X.
MistCoin was deployed to test the first implementation of the ERC-20 standard.
- The pioneering example of an ERC-20 token on Ethereum, long before it became a standard.
- Helped shape the future of decentralized finance and tokenized assets.
- MistCoin paved the way for the hundreds of millions of tokens now circulating on Ethereum.
A Milestone for Ethereum's Token Economy
The introduction of MistCoin marked a major milestone in the development of Ethereum's smart contract capabilities, showing how tokens could be issued, transferred, and managed programmatically.
The Mist team released an update to the Mist Browser allowing for a no-code UI for creating and deploying standard tokens. Before this release, there were only a few contract deployers playing with smart contracts, and after the release there were hundreds of new developers.
Influencing the Future of Tokenized Assets
MistCoin’s legacy lives on as a foundational experiment that inspired the development of major tokens like Tether, Shiba Inu, and countless others. Its role in solidifying the ERC-20 token standard cannot be understated.
- Demonstrated the programmability and flexibility of Ethereum's smart contracts.
- Led to innovations that enabled decentralized finance (DeFi) and beyond.
- The blueprint for how tokens are issued, governed, and transferred today.
The ERC-20 Standard: A Lasting Legacy
As one of the earliest experiments in token creation, MistCoin played a pivotal role in shaping the standards for modern token contracts on Ethereum.
Today, the ERC-20 standard is the backbone of Ethereum's tokenized ecosystem, with MistCoin standing as a historical reference point for developers and enthusiasts exploring Ethereum’s evolution.
Timeline
A historical journey through the development of MistCoin and the ERC-20 token standard.
The Frontier
Vitalik Buterin launches the Ethereum network and the first block is confirmed.
ERC-20 is Born
Fabian Vogelsteller, Alex Vande de Sande, and the Mist team deployed the first ERC-20 prototype: MistCoin (MC Token).
ERC-20 Proposal
Vitalik Buterin and Fabian published the ERC-20 token standard proposal.
ERC-20 Finalized
The standard is formalized on the Ethereum GitHub page, signaling that all tokens built on Ethereum should conform to the standard.
MistCoin Wrapped
Daniel "goatish" Bernstein deployed a wrapper contract to the 2015 contract to enable trading.
Uniswap LP Launched
An LP was set up and funded. After 9 years, MistCoin, the first blockchain standard, can be bought by anyone freely!
Testimonials
Wise words from folks on social media.
The first ERC20 I did was MistCoin a fun creation to test tokens in the Ethereum Wallet. Right after somebody created “bitcoin” 🙀 I still own some super valuable MistCoin 😜
Fabian Vogelsteller
MistCoin Creator
This is hilarious. MistCoin was a test coin we deployed for fun and gave away on Reddit to test our token implementation. And since fabian had just wrote the spec, it became the first erc20 compliant token.
Alex Van de Sande
Ethereum Foundation Alumni & Mist Developer
$Mist certainly has some historical value, as it marked the beginning of the wave of tokens on Ethereum and the rest of the Blockchain space.
Fabian Vogelsteller
MistCoin Creator
I just submitted a ticket to @etherscan about #MistCoin to add the tag "First ERC20 token". While doing that I realised, I actually deployed it 16 days before submitting the ERC proposal😁, as I used it to test the standard idea.
Fabian Vogelsteller
MistCoin Creator
MistCoin 2015 $WMC
Created by very smart nerds.
Collected by less-smart nerds.
Traded by total idiots..
Daniel "goatish" Bernstein
Blockchain Enthusiast
Scrapbook
A collection of photos and videos of the Ethereum Mist team!
Token Standard Contributors
This incomplete list showcases some of the contributors to the ERC-20 standard.
Vitalik Buterin
Co-Founder of the Ethereum FoundationVitalik began externally proposing the first standards in crypto in an Ethereum Wiki on June 17, 2015. Through July 5th, 2015, Vitalik continued to expand on his ideas on standardization, imagining standard Decentralized Exchanges and Registries. These were the building blocks for MetaMask, Uniswap, and ENS, to name a few. On November 19, 2015, Vitalik and Fabian propsed the ERC-20 standard.
Fabian Vogelsteller
Lead Ethereum Dapp Developer | MistFabian made both syntactical and function paramater changes to functions throughout the standards wiki. Fabian's commit on October 30, 2015 was his last commit before deploying the first ERC-20: MistCoin alongside the feature to create standard tokens in the Ethereum Wallet: Mist. On November 19, 2015, Vitalik and Fabian propsed the ERC-20 standard.
Alex Van de Sande
Head UX Designer | Ethereum FoundationAlex "avsa" led the Mist team and was the chief designer of the Ethereum Wallet. Adoption is one of the hardest challenges in a standard becoming accepted, and Avsa's work in the Mist Browser was monumental in the effort.
Gavin Wood
Co-Founder of the Ethereum FoundationGavin's work is replete throughout Ethereum repositories, but perhaps none so clear in his connection to coin standards as his implementation of GavCoin on February 19th, 2015.
Simon de la Rouviere
ERC-20 Standard ContributorSimon made several improvements to the ERC-20 standard, renaming 'sendCoin', 'sendCoinFrom', and 'disapprove' to the familiar 'transfer', 'transferFrom', and 'unapprove'. While working for ConsenSys, Simon gave a talk at Ethereum's Devcon 1 on token standard, worth a watch!
Buy MistCoin
Purchase MistCoin from any decentralized exchange, like Uniswap, or the centralized exchange NonKyc.
Own Ethereum History
Buy Wrapped MistCoin (WMC)
- 1,000,000 Supply
- 0% Tax
- Locked LP
- Historic Coin
- Unruggable
FAQ
Answers to common questions about MistCoin and the ERC-20 token standard
What is MistCoin, and why is it significant?
MistCoin was one of the first tokens deployed on Ethereum as a test for the ERC-20 standard. It served as a proof of concept for tokenized assets on Ethereum, influencing the development of countless tokens that followed.
What is the ERC-20 token standard?
The ERC-20 standard defines a set of rules for creating tokens on the Ethereum blockchain. These rules ensure tokens are interoperable with each other and with decentralized applications (dApps), providing consistency in how tokens function across the Ethereum ecosystem.
How did MistCoin contribute to the development of decentralized finance (DeFi)?
As one of the earliest experiments in token creation, MistCoin demonstrated the programmability and flexibility of Ethereum's smart contracts. This laid the groundwork for the tokens that would later drive the decentralized finance (DeFi) movement, enabling a wide range of financial applications on the blockchain.
Why was MistCoin wrapped?
MistCoin's original contract, deployed on November 3rd, 2015, only contains two simple functions. The ERC-20 standard calls for two functions that are needed for the token to be made tradable on decentralized exchanges: `approve` and `transferFrom`. The wrapper allows MistCoin holders to wrap (and unwrap) their coins into a contract that is tradable. Holders of MistCoin and Wrapped MistCoin tokens can interact with the wrapper contract to easily wrap and unwrap their tokens.
What makes ERC-20 tokens so important?
ERC-20 tokens are essential to the Ethereum ecosystem because they allow developers to create tokens that can be easily traded, transferred, and used within decentralized applications. The standard provides uniformity, enabling seamless integration with wallets, exchanges, and DeFi platforms.
Can I wrap or unwrap my MistCoin anytime?
Yes! The wrapper contract allows you to wrap and unwrap tokens at will and safely. Here is how to do it:
1. Write Contract: createDropbox (create your dropbox where you will drop your OG MistCoin)
2. Read Contract: dropBoxes (read out the dropbox address you just created)
3. Transfer OG MistCoin:Transfer OG MistCoin using the transfer function to the Dropbox address from Step 2
4. Write Contract: wrap (custom decimals 2), wrapping 1 MistCoin = 100 in the input.