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$NCO Platform Coin
The $NCO coin is a platform wide asset with multiple utilities:

A scarce asset as a governance token at the core of the protocol

The Newcoin protocol is operated by a decentralised network of nodes or validators, which provides neutrality and verifiable transactions. While the software and its smart contracts are immutable, the community can decide to personalise some of its parameters along the way through a Decentralised Autonomous Organisation interface where the amount of $NCO tokens defines the weight of the votes, proportional to the stake owned by each participant. The scarcity of $NCO is therefore critical for this voting model to be reliable and relevant.

As a liquidity token enabling the Pool Tokens​

When creators and patrons mint Pool Tokens, they lock $NCO into a the creator profile (or pool) which will grant Pool Tokens the ability to recover their funds. The $NCO provides liquidity, stability and reliability for those operations.

As a network validator across blockchains

Since the Newcoin protocol is blockchain agnostic, the network needs a common denominator across blockchains to be validated. Profiles created on other networks will be recognised by the other entities of the composable architecture thanks to a bridge between token contracts.

As a mechanism to purchase computing resources

Resources such as NFT minting or pool creation RAM will be provided via market mechanisms that uses the Newcoin $NCO asset as a medium of exchange;
Last modified 4d ago