Let’s discuss the value of minting a verifiable (ASA) Algorand Standard Asset. With all the same security & fast txn we all know and like. #GAU
I will start with the positive aspects. Recently, I have been involved in issuing tokens in an EVM environment on another project. Since this requires preparing smart contracts, it has been much more complex and mentally demanding than I expected, especially as someone accustomed to Algorand. In contrast, Algorand’s ASA (Algorand Standard Asset) is a built-in feature of the chain, so creating one is simple and convenient. It is easy for those who actually perform the creation process. The fact that it is not complicated is also a positive from a security perspective.
On the other hand, regarding the negative aspects, ASA can only reach people who are active on Algorand, which means the market is very small. This is problematic not only because there are fewer potential customers, but also because when trying to scale a project, many services do not support ASA, which can lead to significant costs in the future. For example, consider listing on a CEX: EVM tokens are generally supported by all exchanges, but if you want to list an ASA, you would need to spend a huge amount to ensure the exchange can handle ASA. This can affect the growth of the project.
Therefore, personally, I believe that if the goal is to give intrinsic value to the token itself, ASA is not a suitable technical choice.