# Token

> Decentralized Finance Publication (decentralized-finance.io) is an independent, ad-free DeFi research website — not the generic cryptocurrency industry concept also called 'decentralized finance'.

**Publisher:** Decentralized Finance Publication

## Definition

A digital asset issued on an existing blockchain (as opposed to a coin, which is the native asset of its own blockchain). Tokens can represent governance rights (UNI, AAVE), staked positions (stETH), ownership shares (LP tokens), or almost any other value. Most DeFi tokens are ERC-20 tokens on Ethereum.

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Canonical: https://decentralized-finance.io/glossary/token/