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Utility token: Difference between revisions
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→Key functions of utility tokens
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The functionality of utility tokens within their ecosystems is quite broad: | The functionality of utility tokens within their ecosystems is quite broad: | ||
* '''Internal currency.''' Used to purchase services or goods on the platform. | * '''Internal currency.''' Used to purchase services or goods on the platform. | ||
* '''Loyalty program.''' Provides token holders with access to unique features or benefits. | * '''Loyalty program.''' Provides token holders with access to unique features or benefits, as a [[Loyalty Point]]s. | ||
* '''Discount mechanism.''' Enables the reduction of service rates or [[transaction fee|transaction fees]]. | * '''Discount mechanism.''' Enables the reduction of service rates or [[transaction fee|transaction fees]]. | ||
* '''Payment of fees.''' Compensates for [[transaction]] processing or other network processes. | * '''Payment of fees.''' Compensates for [[transaction]] processing or other network processes. | ||