The ELX Token

ELX is the native utility and governance token of the Elixir ecosystem, powering consensus and allowing for holders to direct the future of the network.

With the launch of ELX alongside the Genesis Validator program, Elixir has fully decentralized.

The goal of the ELX token is to 1. encourage effective governance structures to form, 2. be utilized as a cryptoeconomic security incentive, and 3. ensure that the network's decentralized and permissionless state is maintained at all times.

Node / Validator ELX Staking Requirements

The node and validator infrastructure that rests at the core of the network is economically secured by ELX tokens. All validators and nodes are required to stake a minimum of 9,000 ELX to keep their infrastructure active and in good standing.

As broken down within the Network Architecture section, validators ensure the security and proper function of the network. By requiring that these parties stake a non-zero amount of ELX, the network imposes a cryptoeconomic incentive for validators to act honestly.

The Elixir ecosystem relies on ELX for security, making it a crucial component of the platform's architecture.

Governance

The ELX token is also the sole governance token within the ecosystem, granting holders and network participants the ability to propose and vote on proposals shaping future growth of the network.

Potential Fees

Upon the upcoming launch of the Elixir DAO, ELX holders will have full governance rights over the network and control the direction/use of fees generated by the network.