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I am working in a project with an ERC20 token generated with Solidity 0.4 (but for the moment, all the tokens are in the owner's address). Community already knows this token address, and knows that it will be distributed soon.

Now, we have to develop some Smart Contracts where the ERC20 token is used. As the ERC20 token is in Solidity 0.4, it forces us to develop the new Smart Contracts in Solidity 0.4 too.

I think that is a too old Solidity version for late 2021, and could lead to community distrust, but launching a new token in Solidity 0.8 could also lead to community distrust.

What do you think it is a better approach?

  1. Burn the Solidity 0.4 ERC20 tokens (send them to 0x address), and deploy a new ERC20 token in Solidity 0.8, to be able to develop Solidity 0.8 new Smart Contracts.

  2. Keep the Solidity 0.4 ERC20 token and develop new Smart Contracts in Solidity 0.4.

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Since the token hasnt been distributed yet id DEFINITELY update it to 0.8.

Now you can still build in 0.8 a contract that interacts with a 0.4 contract without too many issues, but i dont see why you would do that, newer version = better in most cases anyways

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