DEV Community

Cover image for $IOTX one off the kind
Fariz Tiger
Fariz Tiger

Posted on

$IOTX one off the kind

Introduction to $IOTX
The IoTeX Network is fueled by the native IOTX token. In addition to representing fractional ownership of the IoTeX Network, IOTX has multiple uses (or “utility”) to enable trusted and transparent interactions between various stakeholders, including users, Delegates, developers, and service providers. The IOTX token is the lifeblood of the IoTeX protocol and instills economic and reputational incentives to ensure the IoTeX Network is governed/maintained in a decentralized fashion.
IoTeX stakeholders can spend, stake, and/or burn IOTX in order to access network resources. As the utility of IOTX grows, the demand and value of IOTX will also grow, providing continued incentives for network participants to maintain and grow the network. As such, IOTX tokenomics are designed to balance incentives across multiple types of stakeholders:
Users pay for DApps/services and stake/vote for Delegates with IOTXDevelopers power their devices/DApps and incentives via IOTXDelegates stake IOTX in order to be eligible to produce blocksService Providers offer services to devices/DApps, paid in IOTX

Discussion (0)