TechFlow news — Smart Layer stated that the SLN token is designed to capture the value across the entire ecosystem, including Smart Layer Network, Smart Layer Launchpad, and all tools and technologies.
The token serves three fundamental purposes within the ecosystem:
1. Staking: Projects and users can stake to earn SLN rewards, receive a share of SLN fees, obtain usage discounts, secure discounted sale prices, participate in governance voting, or gain eligibility for Launchpad projects.
2. Payment method: Projects and users can use SLN to pay for usage fees of tools, the network, Launchpad, leasing services, and more.
3. Gas and transaction fees: All transaction fees paid via tools, Launchpad, and the network are collected in SLN.
In addition, Smart Layer is considering allocating a portion of its ecosystem fees toward a buyback and/or burn program. This program would involve repurchasing SLN tokens from the open market and either holding or burning them, thereby removing tokens from circulation and reducing the circulating supply.
