Utility & Governance

Onyxcoin Various Utility and Goverance Attrivutes

XCN Utility and Governance

🔧 Utility & Gas

• Gas token: Used to pay for all transactions and smart contract executions across the Onyx L3 blockchain. A portion of every transaction fee is burned, making XCN total supply deflationary.

• Service payments & discounts: Required to access and pay for Onyx Cloud (RPC/API) and Sequence ledger services, with XCN holders receiving discounted or premium access.

🗳️ Governance & Staking

• Governance token: XCN holders can stake tokens in the Onyx DAO to propose and vote on protocol changes, emissions, treasury allocations, and more. This ensures protocol security.

• Staking rewards: Stakers secure the network and gain governance power, while also earning periodic staking rewards.

💱 Payment Instrument

• Means of payment: XCN is used within the ecosystem to pay commercial fees and access premium features.