Why Does the Jackal Token Exist?
JKL is the commodity that powers and secures the entirety of Jackal Protocol.
Applications built on Jackal Protocol, such as Jackal Storage and the RNS Marketplace may choose to leverage the JKL token to expand its utility.
As the Jackal Protocol is a Proof-of-Stake (PoS) Cosmos L1 blockchain, JKL can be delegated to validators to secure the network and earn JKL rewards. Otherwise known as staking or staked tokens.
Staked tokens grant on-chain governance participation within the Jackal Protocol to vote on text, software, spend, and other governance proposals.
Transactions on the Jackal Protocol must be paid for using JKL. As the protocol is PoS, cost of transactions are inexpensive.
The JKL token can act as collateral for validators, storage providers, and other smart contract use cases.
JKL can be allocated into a liquidity pool to earn JKL rewards.
The JKL token is used to purchase storage space and manage your files.
Why Does the Jackal Token Exist?
JKL is the commodity that powers and secures the entirety of Jackal Protocol.
DApps
Applications built on Jackal Protocol, such as Jackal Storage and the RNS Marketplace may choose to leverage the JKL token to expand its utility.
Securing the Network
As the Jackal Protocol is a Proof-of-Stake (PoS) Cosmos L1 blockchain, JKL can be delegated to validators to secure the network and earn JKL rewards. Otherwise known as staking or staked tokens.
Governance
Staked tokens grant on-chain governance participation within the Jackal Protocol to vote on text, software, spend, and other governance proposals.
Transactions Fees
Transactions on the Jackal Protocol must be paid for using JKL. As the protocol is PoS, cost of transactions are inexpensive.
Collateral
The JKL token can act as collateral for validators, storage providers, and other smart contract use cases.
Liquidity Provisions
JKL can be allocated into a liquidity pool to earn JKL rewards.
Data Storage
The JKL token is used to purchase storage space and manage your files.
Additional Information
If you possess JKL tokens, you can temporarily lock them away to secure the protocol, this is called staking or delegating. In exchange for securing the network with your tokens, you receive rewards and the ability to vote on the Protocol’s future. These rewards come from newly generated JKL tokens and transaction fees.
It should be noted that staking or delegating is not risk free, this is why it is important to learn about the risks and participate in sustainable staking practices.
To decrease risk, it’s recommended that you do research on validators and select one you trust as well as delegate to multiple validators.
Additional Information
If you posess JKL tokens, you can temporarily lock them away to secure the protocol, this is called staking or delegating. In exchange for securing the network with your tokens, you recieve rewards and the ability to vote on the Protocol’s future. These rewards come from newly generated JKL tokens and transaction fees.
It should be noted that staking or delegating is not risk free, this is why it is important to learn about the risks and participate in sustainable staking practices.