NEXT is the Connext network token. It is an ERC20 utility and governance token that powers fair utilization of the network.
Connext is a critical piece of public infrastructure for the decentralized web and is owned and operated by its community.
The purpose of the NEXT token, then, is not to provide security but instead to maintain operational fairness for routers after the Amarok upgrade.
Routers are Connext's node operators and stake NEXT to participate in the network, and earn a proportional share of work from the network in return. NEXT keeps the network running by ensuring that all routers are beholden to the same set of rules around fair transaction ordering, and a router’s NEXT is slashed if they violate these rules.
Learn more about routers here: What is a router?
In addition to its role as a utility, NEXT will be used to govern the ecosystem treasury of the Connext network through a DAO. In doing so, the community acts as long term arbiters of resource allocation towards the key contributors that will push the Connext network forward.
NEXT token details:
- Ticker: NEXT
- Standard: ERC20
- Total supply: 1B tokens
- Token address on Ethereum: 0xd63014F367aFe2eb006FD3dD6C02110A9dCE42dC