#LorenzoProtocol explains ...What is it? and What is the token $BANK used for? It is the native currency of the protocol and has three (3) main uses:

✔️Governance: BANK holders can vote on decisions about the future of the protocol.

✔️ Incentives: Rewards for participating in the ecosystem.

✔️Voting with custody (veBANK): If you lock your BANK tokens for a period of time, you gain more voting power and possibly better rewards.

For more info @Lorenzo Protocol