THE AKT TOKEN
AKT is the utility token powering the world’s first open-source cloud.
What is akt?
Akash Network is the world’s first decentralized open-source cloud, providing faster, more efficient, and lower cost application deployments for high-growth industries including DeFi, decentralized organizations and applications, and machine learning/AI.
Akash Token (AKT) is the platform’s native utility token, used as the primary means to govern, secure the blockchain, incentivize participants, and provide a default mechanism to store and exchange value.
AKT token holders can vote on network upgrades, and allocation of the Decentralized Cloud Foundation’s funds and resources.
AKT provides a default mechanism to store and exchange value, and acts as a reserve currency in Cosmos' multi-currency and multi-chain ecosystem.
AKT is used to incentivize providers to offer lower prices, and incentivizes stakers to participate in the network longer term by staking.
Once the network achieves more significant gross merchandise value (GMV), rewards will comprise inflationary rewards and include a share of the total network spend (Take Income) users pay.