#plasma $XPL
XPL’s Primary Functions
The XPL token powers the Plasma blockchain with several key roles:
🏛 Network Security
Validators stake XPL to secure the blockchain under its PoS consensus. Stakers help validate blocks and keep the network honest. �
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⚙ Transaction Fees
XPL is used to pay gas fees for smart contract execution and transactions that aren’t free (such as complex operations beyond simple stablecoin transfers). �
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🎁 Rewards & Incentives
Validators and participants receive XPL rewards for staking and supporting the network. Some versions of the ecosystem provide inflationary rewards (starting around ~5 % annually, tapering over time). �
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🗳 Governance (Future Feature)
XPL holders are expected to participate in on-chain governance, voting on upgrades or protocol changes. �
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📈 Market Debut & Early Performance
At launch, XPL briefly traded as high as about $1.54, giving Plasma a multi-billion-dollar market cap. �
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Initial market excitement