> For the complete documentation index, see [llms.txt](https://docs.egonscan.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.egonscan.com/general/learn-about-the-egoncoin-platform/egoncoin-token.md).

# EgonCoin Token (EGON)

The EGON token is the native currency of the EgonCoin blockchain and platform, just like ETH on Ethereum.

## EGON utility:

* **Transaction fees:**  Being the native currency on the EgonCoin blockchain, EGON is required to pay fees to the network in order to approve transactions.
* **Validation** Token holders can stake EgonCoin to become a validator. The minimal staking requirement is 50K. The network is growing.
* **Staking (for holders)** Any EGON holder can stake any amount of EGON they wish. They receive a share of the EgonCoin stake rewards proportionate to the share of their stake in the total stake.
* **Payments** As EGON is the native currency on EgonCoin, sending it does not require interactions with smart contracts. Thus, EGON transfers are potentially faster and less costly in terms of transaction fees.

**IMPORTANT**: Merely possessing any amount of EGON tokens does not endow holders with any rights to participate in the governance of the EgonCoin platform or any revenue streams related to its real-world performance.

## Obtaining EGON

### Where to Buy

EGON will be available for purchase on a number of centralized (CEX) and decentralized DEX exchanges soon after OPEN mainnet is launched.

**NOTE:**

**There is no sale of EgonCoin now since what is available is Enclosed mainnet. Buy/Sale only happens with OPEN mainnet. Kindly wait till open mainnet is reached.**

### Where to Farm

Soon.

### Other ways of obtaining EGON

From time to time, the EgonCoin team uses EGON to pay rewards to the members of the community for various forms of participation and community engagement. The best way to stay up-to-date about these opportunities is to follow EgonCoin's social channels.

The EGON coin is also used to power EgonCoin grants and bounties. Please consult the Grants and Bounties section for more details.

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