Examples of Popular Utility Tokens
Utility tokens are digital assets designed to provide users with access to a product or service within a specific ecosystem. Here are some well-known examples:
- Ethereum (ETH): While primarily a cryptocurrency, ETH serves as a gas token for executing smart contracts and decentralized applications (dApps) on the Ethereum blockchain.
- Binance Coin (BNB): Initially launched as a utility token for trading fee discounts on the Binance exchange, BNB has grown to provide utility in a variety of services within the Binance ecosystem, including payments and token sales.
- Chainlink (LINK): LINK is utilized in the Chainlink network that connects smart contracts with real-world data, allowing them to interact with APIs and data feeds securely.
- Uniswap (UNI): As the governance token for the Uniswap decentralized exchange, UNI holders can vote on protocol changes and improvements, thereby participating in the future of the platform.
- Basic Attention Token (BAT): BAT is integrated into the Brave browser, rewarding users for viewing ads while providing advertisers with a more effective way to reach their audience.
These utility tokens contribute significantly to their respective ecosystems, serving as a means of facilitating transactions, accessing services, or participating in governance.