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I already have a running erc20 smart contract using ink. I want to add mint and burn functions. Can anyone point me to the right direction, e.g., sample code, etc.

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In terms of ink! you could take a look at the OpenBrush reference implementation for PSP-22 implementation. This is a standard akin to ERC-20, but for pallet-contracts and ink!.

There is an implementation of this standard in the OpenBrush project here.

Documentation on the mint and burn functionality can be found here:

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