The primary denomination governing staking, governance, and gas consumption on the CosVM EVM is the CVM Token. This token holds essential utility in various aspects:

  • Securing the Proof-of-Stake Chain: CVM tokens play a pivotal role in ensuring the security of the Proof-of-Stake (PoS) chain.

  • Governance Instrument: They function as a governance token, enabling active participation in governance proposals within the ecosystem.

  • Fee Distribution: CVM tokens are instrumental in distributing fees among validators and users within the network.

  • Gas for Smart Contracts: They serve as a crucial medium for providing gas required for executing smart contracts within the CosVM EVM.

CosVM adopts CVM token as its base denomination, aligning it with Ethereum's standards for compatibility and consistency. There are three primary types of assets within the CosVM ecosystem:

  • Native CVM Token: The primary token utilized natively within the CosVM network.

  • BC Coins (via IBC): Tokens obtained through the Inter-Blockchain Communication (IBC) protocol, facilitating interoperability.

  • Ethereum-Typed Tokens (e.g., ERC-20): Tokens that mirror assets from Ethereum, ensuring compatibility with Ethereum's standards, thereby allowing seamless integration. The relationship between CosVM and CVM token maintains alignment with Ethereum's denomination:

1 CVM = 10<sup>18</sup> CVM
This alignment corresponds with Ethereum's denomination:

1 ETH = 10<sup>18</sup> wei

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