BAND is a native token of the Band Protocol. It is available both on the Ethereum and BandChain networks. BAND is used to protect and power the decentralized oracle network — all validators are required to stake BAND, with a higher stake equating to a high probability of being selected to fulfill data requests. Underperforming or malicious actors will result in having their tokens slashed. Another way the token is used is for voting on the protocol updates and changes. The network also charges a fee in BAND tokens, with 2% of the total fee per block being transferred to a community fund to ensure the long-term sustainability of the ecosystem. The token has an inflationary model. The annual inflation rate ranges from 7% to 20% and adjusts to a target to deliver 66% of the total number of BAND tokens.