🔶SatNode Token (SND)

SND plays several roles in the SatNode ecosystem. Primarily, it acts as the native currency, covering transaction fees within the SatNode blockchain to facilitate transaction approval.

Token holders can stake their SatNode, with a minimum requirement of 42k, to become validators.

Currently, there are 2 validators, as seen on the SatNode status page (https://status.satnode.io/). Validators use their staked SND for voting on protocol changes, enabling those with higher SatNode stakes to influence network upgrades and governance adjustments.

Delegators, (SND holders), can choose validators to delegate any SND amount, receiving a share of block rewards proportional to their stake.

Since SND is the native currency, transfers don't need smart contract interactions, effectively leading to faster and more cost-effective transactions.