Native Tokens

A native token in a blockchain running the Ethereum Virtual Machine (EVM) refers to the primary digital currency or cryptocurrency native to the EVM blockchain. Every EVM layer 1 chain has it's own native token:

• Ethereum: ETH
• Avalanche C-Chain: AVAX
• Dexalot: ALOT
• many more...

The native token serves as both a means of value transfer within the EVM network and as the gas token for executing transfers or smart contracts. Therefore, native tokens play a crucial role in the EVM chain by enabling participants to interact with and utilize the platform's decentralized features, serving as the foundational unit of value.

Time for a Quiz!

Wolfie wants to test your knowledge. Select the correct answer.

Which of the following best describes the role of a native token in an EVM-based blockchain?

AIt is used only for staking and governance within the blockchain.

BIt serves as both a means of value transfer and as the gas token for executing transactions and smart contracts.

CIt is used exclusively for purchasing NFTs on the blockchain.

DIt has no functional role other than being a store of value.

Check Answer