You’re able to swap NOS (a token on the NEO blockchain) to BIND at a 1:1 rate.
You can get NOS at Switcheo or Altilly exchange.
BIND is Compendia’s native cryptocurrency. BIND represents Vote Power (or Power) on the network (1 BIND = 1 Power). With Vote Power, you can vote for validators (the miners of the network).
The top forty-seven validators on the network with the most votes mine blocks, which means they verify transactions and earn block rewards and transaction fees in return.
Validators also have the ability to upload databases to Compendia. These databases can then be used by apps and services for free.
The apps using these databases can rank their items by measuring the vote power of the validator that uploaded it. Therefore, BIND not only influences forging positions of validators, but also database item positions.
BIND is not spent on voting (apart from a small transaction fee when setting a vote). Instead, the voting power of a Compendia wallet consists of the total sum of its BIND balance and stake.
See how the network’s economy and the BIND coin work at the Economy section.
Was this helpful?
0 / 0