What is $POKT
The universal RPC base layer token
POKT coordinates ecosystem actors and powers the decentralized RPC network. Gateways and node runners use the token to service the ever-growing demand for on-chain data.
Node runners must stake $POKT (currently 15,000 POKT) to operate a single node.
Gateways must pay an operator fee in $POKT per relay ($0.00000085).
Every week the aggregated operator fees from Gateways are burned by the Pocket Network Foundation.
Learn more about POKT's economics
History of $POKT
POKT Network was launched with the aim of decentralizing the RPC layer of the Web3 stack. Pocket is the only decentralized RPC network on mainnet today that's supply-side permissionless. After the Shannon upgrade later this year, it will be the only one that's demand-side permissionless as well.
POKT launched its mainnet on July 28th, 2020, with 650m POKT tokens created at genesis. The amount of POKT minted is directly proportional to the number of proven data relays in a given block, with the compensation divided between service nodes, validator nodes, and the POKT Network DAO that governs the protocol.
POKT is first and foremost a utility token
POKT is used to incentivize and facilitate the operation of Gateways and POKT nodes.
Staking POKT underpins the network's digital infrastructure that is owned and governed by its users.
POKT allows you to act as a Liquidity Provider for our decentralized RPC ecosystem.
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