What is the function of the $LAYER token?
The token $LAYER is fundamental for the functioning and economy of Solayer. Its main utilities include:
Governance: Holders of this token have the right to participate in the platform's decisions. They can vote on proposals for protocol improvements, the addition of new assets, or the management of the treasury.
Network Incentives: The token is used to reward network participants, such as validators and users who re-stake their tokens, incentivizing the security and growth of the ecosystem.
Fees and Payments: In the future, the token could be used to pay transaction fees within the Solayer network. The protocol has mentioned that a portion of these fees could be "burned" (removed from supply), which could have a deflationary effect.
Protocol Security: Re-staking $LAYER is a way to provide an economic security layer to the AVS operating on Solayer.
