PALM is the native token of the Palm blockchain network. Like other blockchain networks, PALM is used to pay for transaction fees (“gas”) whenever a user submits a transaction on the network. In this form, it is an essential utility that both prevents network spam and supports critical network infrastructure.
The PALM token will also carry governance rights, allowing community members to take part in the evolution and growth of the Palm network. Governance capabilities are not currently active, but are expected to be rolled out later this year.
PALM is not available for purchase.
PALM will be freely distributed to users, creators, and partners who bring activity and value to the Palm network. These distributions in turn provide recipients with the ability to further transact on the network and participate in network governance.
PALM can be obtained through one of the following channels:
*PALM distributions to users who undertake the above activities will be in the form of a “top up”, i.e. PALM will only be given to users whose wallet balance is below the top up threshold, and the total amount of PALM given through any distribution will be limited such that the balance of the wallet post-distribution is no higher than the top up threshold.