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Just as ETH powers Ethereum and BNB fuels Binance Smart Chain, STEAMX serves as the core digital asset within the Rails Network, offering a wide array of utility and benefits.
Key Uses of STEAMX: STEAMX plays a vital role within the Rails Network, enabling users to:
- 1.Pay On-Chain "Fees": STEAMX is the primary currency used to cover on-chain transaction fees within the Rails Network. Whether you're executing smart contracts, transferring tokens, or engaging with decentralized applications, STEAMX serves as the medium of exchange for seamless transactions.
- 2.Cross-Chain Transactions: Enjoy the flexibility of cross-chain transactions with STEAMX. Users can effortlessly transfer tokens between the Rails Network and other blockchain networks like Binance Smart Chain (BSC) or Ethereum, expanding liquidity and fostering collaboration across different platforms.
- 3.Staking for Node Operators: Staking within the Rails Network is exclusively available to Node Operators. As a Node Operator, you must stake/lock your STEAMX tokens and earn rewards for your contribution to the network's security and consensus. The specific reward is subject to negotiation during the vetting process when a node operator application is submitted.