Utility

The $GP token serves several critical functions within the network, from facilitating transactions and operations to incentivizing participation and governance.

Token Utilities

1. Gas Fees:

   • The $GP token is used to pay for transaction fees on the GPUnet blockchain. This includes smart contract executions, token transfers, and other on-chain operations. The use of $GP for gas fees ensures that validators are compensated for the computational resources they expend to maintain network security and execute transactions.

2. Renting GPUs:

   • One of the core functionalities of GPUnet is to provide decentralized access to GPU resources for various compute-intensive tasks such as machine learning, rendering, and scientific computation. Users can rent GPU power from providers using $GP tokens, creating a direct value exchange within the ecosystem.

3. Network Rewards:

   • $GP tokens are distributed as rewards to validators and compute providers who contribute their resources to the network. Validators receive $GP for securing the network and validating transactions, while compute providers are rewarded for offering their GPU resources. This incentivizes active participation and ensures the network's robustness and reliability.

4. Governance:

   • The $GP token empowers holders with governance rights within the GPUnet ecosystem. Token holders can propose, vote on, and implement changes to the network's protocols, parameters, and development direction. This decentralized governance model ensures that the GPUnet community has a say in the network's future and that decisions reflect the collective interest of its participants.