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Learn about how the $CHEQ token operates
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Learn about how the $CHEQ token operates
Last updated
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The $CHEQ token at a basic level is used for three core functions:
Network decisions: cheqd is a Delegated Proof of Stake network, where individuals can vote on network decisions via a decentralised governance framework.
Identity writes: $CHEQ can be used to write Decentralised Identifiers (DIDs) and DID-Linked Resources to the network. This write also includes a percentage of tokens burnt from the network.
Credential Payments: $CHEQ can be used to pay for decrypting on-ledger resources for the purpose of a Verifier paying a Credential Issuer.
Learn about the different mechanisms of the $CHEQ token below:
Tokenomics
Understand how $CHEQ works at an economic level.
Identity writes
Learn how $CHEQ can be used to create DIDs and DLRs.
Credential Payments
Undestand how $CHEQ can be used for incentivising credential adoption.
