VENOM TOKEN
Token Utility
2min
$VENOM provides important functions to the ecosystem and has five primary purposes:
- Governance
- Transaction fees
- Network security
- Delegated staking
- Incentivizing validators
As such, $VENOM is used in the following ways:
- Native currency to pay for transaction fees in the network.
- Transaction fees paid in $VENOM incentivize validators to maintain the network.
- Staking of $VENOM to participate in the ecosystems PoS consensus mechanism.
- Attracting validators and delegators to enhance the network's security.
