Enjin Coin

About Enjin Coin

Enjin Coin (ENJ) is the native governance and utility token of the Enjin Blockchain, a Substrate-based Proof-of-Stake network specifically optimized for NFTs and gaming. Originally launched as an ERC-20 token on Ethereum, ENJ migrated to its own purpose-built blockchain in 2023. The token serves several critical functions: it is used to pay transaction fees, secure the network through staking in a Nominated Proof-of-Stake (NPoS) consensus mechanism, and participate in ecosystem governance. A unique feature of ENJ is its use in minting digital assets; developers can embed ENJ within NFTs to provide them with a provable, on-chain reserve value, which can be recovered by "melting" the asset. ENJ underpins a comprehensive suite of products including the Enjin Wallet, the NFT.io marketplace, and various developer SDKs designed to integrate blockchain assets into games and applications.