JayX Docs
  • 🔭Visions
    • Background
    • What is JayX?
    • Why I/we choose to be anonymous?
  • 📑Solutions
    • Tech Stack
    • Non-Custodial Account
      • What is Chain Abstraction
      • Multi-Chain Signatures: One Account, Multiple Chains
      • Exchange Node Relay Function
      • SSO + Authentication (Wallet Connect)
    • DID/KYC
      • Decentralized Client Verification
      • ZK for Privacy-Preservation
      • Third-Party Verification and On-Chain Endorsements
      • Exchange Node Operators with Choice
    • Asset Management
      • Asset Storages
    • Dapp
      • Exchange Nodes
        • Key Functions of the Exchange Node
        • Order Flow Process
        • Incentive to Operate Nodes
        • Order Book
        • Oracle
  • ⛓️Token (Pending)
    • Utility Token - $SEED
      • Protocol Level Utilities
      • Application Level Utilities
      • Invitation and Referral Rewards
    • NFT - EGG & BIRD
    • Governance Token - $JAY
  • 📖API Docs
    • Intro to Spot Trading API
    • General Info
    • Endpoints
    • Websocket Stream
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  1. Token (Pending)
  2. Utility Token - $SEED

Protocol Level Utilities

  1. Gas Fees: $SEED tokens are used to pay gas fees for transactions processed on the JayX network. These fees are compensated to nodes for validating transactions and maintaining the blockchain's integrity.

  2. Validator Rewards: $SEED tokens are awarded to validators as part of the consensus mechanism rewards. This incentivizes validators to act honestly and efficiently while securing the network.

  3. Staking for Operating Nodes: Holders of $SEED tokens can stake their tokens to operate nodes. Staking tokens help ensure the security and operability of the network, and stakers receive rewards proportionate to their stake.

  4. Cross-Chain Messaging and Value Transfers: $SEED tokens facilitate cross-chain interactions, allowing for seamless messaging and value transfers across different blockchain platforms. This utility supports the JayX chain's interoperability with other chains, enhancing its ecosystem connectivity.

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Last updated 1 year ago

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