Token utility
Tokens used
Cross.social operates using two tokens:
Integrated token,
Cross social DAO token (token name will be announced),
The token of an integrated project, referred to as the “native token”, and is used as the main currency in the Cross.social system. Native token is earned by the user for participating in online activities such as tip’ing, answering polls, reading notifications, or creating engaging content. Furthermore, native token is used to buy and sell services and is traded for items and other tokens. In other words, this token is used to operate most of day-to-day activities. While the native token allows platform to work, by rewarding community, the DAO token gives control to the users.
DAO (CSTD) token empowers Cross.social community to govern itself via a decentralized governance framework. For a person to be able to participate in decentralized governance of Cross.social system only one condition has to be met – ownership of at least one DAO token. One DAO token equals one vote. For more information on DAO please refer to DAO chapter of this whitepaper.
Token utility
Cross social project uses native and DAO (token name will be announced) tokens to operate. This duality of tokens guarantees transparency and diversity, both of which are long-term goals for the project. While native tokens function as a daily currency for which users can buy and sell services or goods, DAO token is a governance token, which gives the owner it’s right to democratic regulation of the project. Both tokens are crucial and both tokens are separated because of different functionality, yet together they complete each other and create an amazing environment for this social project to grow!
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