Introducing SNET
The SNET token (SynthNet Governance Token) is a governance token for the SynthNet platform.
Last updated
The SNET token (SynthNet Governance Token) is a governance token for the SynthNet platform.
Last updated
SNET Token Information
Full Name: SynthNet Governance Token
Symbol: SNET
Decimal: 18
Network: BNB CHAIN
Total Supply: 10,000,000,000 (10 billion)
The SNET token (SynthNet Governance Token) is a governance token for the SynthNet platform. It is built on the BEP20 smart contract. Users who provide distributed computing power can earn rewards through SNET, while those who need computing power can obtain cost-effective resources by paying SNET.
SNET token plays a critical role in the SynthNet platform by enabling users to participate in the governance of the ecosystem while providing an efficient means of exchange for computing power.
Incentivizing mining participation: SNET token is the mining reward in the Synthnet platform. By obtaining SNET tokens through mining, more users are encouraged to participate in computational mining, thereby increasing the platform's computing power, improving mining efficiency and returns.
Incentivizing community building: SNET token also plays an important role in the Synthnet community. Users holding SNET tokens can participate in community building and governance, such as voting to decide on new feature development, modifying reward rules, etc. Through this way, the token can promote community participation and cooperation, enhancing community cohesion and vitality.
Paying transaction fees: In the Synthnet ecosystem, SNET tokens can also be used to pay transaction fees. When users perform token transactions, withdrawals, and other operations, they need to pay certain fees. These fees can be collected by the Synthnet platform and used to maintain platform operation and development.
Asset storage: SNET tokens can also be used for asset storage and management in the Synthnet platform. Users can store tokens in the Synthnet wallet for convenient transfer, trading, and other operations. Meanwhile, the token can also serve as a way of asset management, allowing users to increase or decrease their wealth through token fluctuations.
