MNET token, the network's conductor, is the core utility token that feeds the network's value and consolidates the interest of all the network participants by the form of governance.
MNET token is essentially the fuel that powers the MINE Networks Hashrate economy. All transactions on the MINE Network blockchain will require MNET tokens to pay for fees and commissions.
70% of MINE Network's revenue will be used for secondary market repurchasing and burning, keeping MNET token inflation low and the economy deflationary at times.
Practical Usecases of MNET
Network participants will utilize MNET tokens to pledge with mining pools interested in taking part in MINE Network's standardized mining pools.
2. PREEMPTIVE RIGHTS
Retail miners who have staked a particular quantity of MNET tokens have the first rights to purchase the pTokens when they go on sale.
3. GOVERNANCE AND VOTING
Proposals can be submitted and voted on by MNET token holders.
4. TOKEN BURN
A certain percentage of transaction fees are burned in the form of MNET tokens.
5. LIQUIDITY REWARDS
MINE Network will reward the market makers providing liquidity for pTokens and MNET tokens on DEX's with MNET tokens.