SKALE (SKL) serves a variety of key functions within its ecosystem:
Validation, Execution, and Security: SKL token holders, known as delegators, utilize their SKL tokens to stake on validators responsible for operating network nodes. These validators perform critical tasks such as block validation, smart contract execution, and network security.
Developer Subscription Fees: Developers acquire access to SKALE chains (S chains) by utilizing SKL tokens to pay for their subscription fees.
Rewards for Validators and Delegators: Monthly rewards are distributed to validators and delegators, derived from developer chain fees and the monthly token inflation introduced into the network.
Governance and Voting: SKL tokens will soon facilitate on-chain voting processes, enabling control over all economic parameters governing the SKALE network.
Trade or HODL: You have the option to trade SKALE cryptocurrency against various other cryptocurrencies on the Bitget Spot Market or supported platforms, allowing you to potentially profit from changing market dynamics. Whether you choose to buy, sell, or hold SKL tokens for the long term depends on your belief in the future prospects of the SKALE project. Prior to engaging in any new crypto trade, it's advisable to conduct thorough research (DYOR).