# Create and manage a PSP22 asset on Shibuya

## TL;DR​

During this guide, we'll be guiding you in creating and managing your PSP22 asset.

## What is a PSP22 asset?​

The PSP22 Fungible Token standard was inspired by ERC20. It targets every parachain that integrates with pallet contracts to enable WASM smart contracts. Defined at an ABI level, any language that compiles to WASM (and isn’t explicitly restricted to ink!) can use it. What PSP22 is on Polkadot is what ERC20 is on Ethereum.

## Create a PSP22 contract​

In this guide, we will use OpenBrush and their contract studio to build our PSP22 contract. OpenBrush contract studio is the fastest and easiest way to create your smart contract. It allows you to add extensions that will fit your needs for your asset.

### Extensions:​

• Mintable: allows you to create an amount of tokens and assign them to the account, increasing the total supply.
• Burnable: allows token holders to destroy both their own tokens and those they have an allowance for.
• Wrapper: allows you to wrap your PSP22 token in a PSP22Wrapper token which can be used, for example, in governance.
• FlashMint: allows the user to perform a flash loan on the token by minting the borrowed amount and then burning it along with fees for the loan.
• Pausable: allows you to pause all token operations.
• Capped: allows you to implement with a supply cap, analog to ERC20Capped.

Not available in the contract studio, but another utility is the TokenTimelock: a utility for locking PSP22 tokens for a specified time. This contract will lock user's PSP22 tokens until the time specified when they can withdraw them.

caution

Make sure your environment is set to compile ink! smart contract. If your environment is not set, follow the guide here.

### Step 2​

Next is to compile your smart contract by using the:

cargo +nightly contract build

When compiling is finished, you should see the following screen where 3 files are created. The contract, wasm, and JSON file.

You can find the files in your folder under target > ink.

Astar ecosystem has 3 networks: Astar, our mainnet, connected to Polkadot; Shiden, our canary network; and Shibuya, our testnet. Deploying your contract and how to use it is the same on all our networks.

### Step 1​

Go to our testnet Shibuya. In this guide, I will use Polkadot.JS, but you can also use the contract UI or our Swanky all-in-one tool.

caution

Make sure you have an account on Shibuya with testnet tokens. You can get your testnet tokens through our faucet.

Navigate to the contract dashboard Developer > Contracts:

### Step 2​

We will now upload our contract and set the initial state. My PSP22 contract used in this guide has the metadata extension added to the contract. If you didn’t, you would not have the same screen as me in the guide.

Because of adding the metadata extension, I can now set all the information for my asset. To finish, click on ‘Deploy’ and ‘Sign’ your message.