The ONI token is the native utility coin of the ONINO Blockchain. This section covers a broad overview of everything you need to know about the ONI token.
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The preliminary ONI Token is currently deployed as a BEP20 token on the Binance Smart Chain. With the launch of the ONINO mainnet, the ONI token will be migrated from the Binance Smart Chain to the ONINO mainnet and will be the native asset of the ONINO blockchain.
To dive deeper into the ONI token ecosystem, we have to define the main actors in the ONI token economy:
Blockchain Users: Users of the ONINO Mainchain or SubChains submit transactions to the ledger.
ONI Token Holders: Holders of the ONI token can use the token to submit transactions and delegate their tokens towards participating in the consensus mechanism.
Blockchain Validators: Validators of the ONINO Mainchain or SubChains manage the processing, propagating and validation of transactions.
SubChain Operators: Operators of individual SubChains use the ONI token to register, deploy and facilitate access to their SubChains.
The ONI token provides it's users with core features that define it's utility:
Transaction Fees: The ONI token is the native coin of the ONINO Blockchain and used to pay for gas fees when interacting with the underlying ledger.
Validating: Validators put up ONI token as stake to be eligible for participation in the consensus. The threshold for validators is 35,000 ONI, while there is an allowance for delegation by multiple different users.
SubChains: Companies and developers that decide to deploy their native Layer 1 SubChain with the ONINO protocol are required to assign an address with 50,000 ONI to operate their SubChain. Be aware, that the exact amount needed for a SubChain can change closer towards launch of our SubChain feature.
Platform Participation: Several features of the ONINO platform, such as our launchpad, require ONI token to be accessed.
