The XPL token is a cryptocurrency that serves as the native token of the Plasma blockchain, a Layer-1 blockchain network focused on enabling high-volume stablecoin transactions, fast payments, and decentralized finance (DeFi) functionality.
XPL is central to the Plasma network’s economy and operations:
• Transaction fees (gas): Users pay XPL to execute transactions and smart contracts on Plasma, though simple stablecoin transfers can be gasless by design.
• Staking & network security: Validators stake XPL to secure the network under a proof-of-stake (PoS) consensus, earning rewards for validating blocks.
• Incentives & governance: XPL helps align incentives for ecosystem growth and may be used in governance decisions as the network evolves.
Think of XPL like ETH on Ethereum or SOL on Solana—it’s the backbone token that powers core blockchain functions.
