1.1 KiB
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What is the JKL Token?
The JKL Token is the native token that powers the infrastructure of the Jackal Protocol and can be applied in a multitude of different ways.
dApps
Applications built on the Jackal Protocol, such as Jackal Storage and the RNS Marketplace may choose to leverage the JKL token to expand its utility.
Securing the Network
As the Jackal Protocol is a Proof-of-Stake (PoS) Cosmos L1 blockchain, JKL can be delegated to validators to secure the network and earn JKL rewards. Otherwise known as staking or staked tokens.
Transaction Fees
Transactions on the Jackal Protocol must be paid for using JKL. As the protocol is PoS, cost of transactions are inexpensive.
Governance
Staked tokens grant on-chain governance participation within the Jackal Protocol to vote on text, software, spend, and other governance proposals.
Collateral
The JKL token can act as collateral for validators, storage providers, and other smart contract usecases.
Liquidity Provision
JKL can be allocated into a liquidity pool to earn JKL rewards.