Chain Token (“XCN”) is the native cryptocurrency and governance token of the Chain Protocol and Chain ecosystem of products. XCN is a utility-based cryptocurrency which is used for discounts, premium access, and to pay for commercial fees on Sequence, a ledger as a service, designed for enterprises, as well as other Chain products. XCN is also used for on-chain governance for various community driven programs through Chain DAO.
XCN was upgraded and re-denominated in March 2022 to enable native goverance features inherent in the token smart contract.
Chain’s decentralized applications utilize XCN as the governance token that enables XCN stakers to participate in the Chain DAO to vote on Chain Improvement Proposals (CIPs), earn XCN rewards for securing the protocol, and to vote for grants provided by the DAO treasury.
⛓ Chain DApps Include:
🗳 Chain Governance — Vote on Chain Protocol improvements and DAO activities
🔐 Chain Staking — Stake XCN to secure the protocol and earn rewards