SLINKY Token & Utility
Overview of the $SLINKY Token
$SLINKY is the native cryptocurrency of the Slinky Network, designed as a multipurpose token that underpins all fundamental operations and services within the ecosystem. As the core medium of exchange, $SLINKY facilitates a variety of functions such as transaction fees, staking, governance, and smart contract operations.
Key Utilities of the $SLINKY Token
Staking and Network Security: $SLINKY is used to secure the Slinky Parallax chain through a hybrid consensus model combining Proof-of-Stake (PoS) with active computational contributions. Validators are required to not only stake tokens but also provide computational resources to participate in network consensus. This approach enhances the overall security and stability of the network while emphasizing active participation. Operators of Inference Nodes similarly stake $SLINKY and contribute to decentralized AI processing, ensuring reliability and alignment of interests.
Governance: Token holders use $SLINKY to vote on various proposals, influencing the development and strategic direction of the Slinky Network.
Transaction Fees and Gas: $SLINKY serves as the payment unit for transaction fees and computational services, enabling smart contract execution and agent operations.
Denominations and Compatibility
Slinky uses Atto SLINKY as the base denomination to maintain parity with Ethereum. There are three types of assets:
Native SLINKY Token
IBC Coins (via the Inter-Blockchain Communication protocol)
Ethereum-Typed Tokens (e.g., ERC-20)
1 SLINKY = 10^18 aSLINKY, matching Ethereum's denomination of 1 ETH = 10^18 wei.
Cosmos Coins: Accounts can also own Cosmos coins, which are used for interactions with other Cosmos networks, transactions, staking, IBC transfers, governance, and EVM operations.
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