What tokens are there in the solana ecosystem?
The Solana ecosystem is rich in tokens that play a key role. SOL (native token) is used to pay fees and governance. SRM (Serum) is the governance token of decentralized exchanges. RAY (Raydium) is used for trading and liquidity provision on decentralized exchanges. FTT (FTX) pays cryptocurrency exchange fees and offers discounts. MAPS (Maps.me) supports the governance and rewards of decentralized map applications. OXY (Oxygen) is used for staking and governance. LUNA (Terra) is pegged to the US dollar and is used to stabilize the UST stablecoin. UST (Terra) is a stablecoin anchored to the US dollar and used to stabilize the Terra ecosystem. Together, these tokens form a vibrant cryptocurrency ecosystem.
Tokens in the Solana Ecosystem
The Solana ecosystem has numerous tokens that play a role in the network Crucial role. Here are some of the major tokens in the Solana ecosystem:
#SOL
- ## Solana’s native token used to pay transaction fees, incentivize validators, and stake
- As a governance token, allowing holders to participate in network decision-making
SRM
- Serum Decentralized Exchange ( DEX)’s governance token
- is used to pay transaction fees, earn rewards and participate in governance
RAY
- Raydium The governance token of the decentralized exchange
- is used to pay transaction fees and participate in the Automated Market Maker (AMM)
FTT
- Native token of the FTX cryptocurrency exchange
- Used to pay trading fees, stake and receive trading discounts
MAPS
- Maps.me Governance token for decentralized map applications
- Used for governance, paying for map data services and rewarding contributors
OXY
- Oxygen Protocol’s native token
- Used for staking, participating in governance, and earning rewards
LUNA
- Terraform Labs’ native token, pegged to the US dollar
- Used to stabilize the value of the TerraUSD (UST) stablecoin
UST
- Terraform Labs’ stablecoin, anchored at $1
- Used to pay transaction fees, earn interest, and stabilize the Terra ecosystem
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