Read on to learn about the DEIP token and staking.
What is DEIP token?
DEIP token is the native token of the DEIP Network. It serves three major functions in the network:
Utility - DEIP token is the native payment/currency/fee token (e.g. fee for native transactions, smart contracts, etc.)
Governance - DEIP token provides holders with voting rights to elect Validators and Council members, and to adjust key network parameters through referendums
Staking and yield farming - Network participants can stake DEIP tokens on a specific F-NFT segment farm yield of underlying intangible assets
DEIP tokens can be staked to participate in the governance of the DEIP Network. In general, there are three major opportunities if you stake DEIP tokens:
Become a validator in the network, authorize blocks in the chain, and earn a reward for this
Compete for a seat on the DEIP Council, earn a reward and part of the profit from the DEIP Ecosystem Fund
Participate in industry competition by making a bet on the performance of a specific segment of IP assets in the network, increase the amount of capital allocated for this segment in DEIP Ecosystem Fund, and earn a part of profits via yield farming