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About XION
XION is the native utility and governance token for the XION network, a Layer 1 blockchain purpose-built for mainstream adoption through chain abstraction. The token is utilized for network usage fees, where a mechanism offsets new token minting to promote sustainable economics. As a Proof-of-Stake network, XION uses the token for securing the chain through validator staking and delegation. Additionally, the token serves as a medium of exchange and native collateral within its ecosystem, facilitating peer-to-peer transactions and DeFi liquidity. The network features a Generalized Abstraction layer, Meta Accounts for flexible authentication (such as email and biometrics), and parameterized fees that support transactions in stablecoins like USDC.
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