The First Cross Blockchain Token
The AION token is initially being offered on the Ethereum blockchain as an ERC-20 token. As soon as the Aion network is operational, these ERC-20 tokens can be seamlessly converted to AION network tokens, and will continue to be able to flow freely back and forth between these two blockchains.
The Power and Utility of AION Token
The AION token is the fundamental method of interaction within the Aion network and its primary currency, powering:
Mechanics of the Aion-1 blockchain are powered by the AION token, including the ability for users to stake tokens to back validators of Aion’s consensus process.
Blockchain Software Applications
Developing applications on Aion-1 requires the use of AION tokens to access the resources of Aion Virtual Machine. Based on the complexity of the application, the AVM consumes tokens as fuel.
In order to instantiate a bridge from Aion-1 to any participating blockchain, AION tokens must be staked into a bridge registry contract. Once built, other nodes can join the bridge by also staking AION tokens. Fees for inter-chain transactions are set by bridges, and distributed to the validators on those bridges.
AION tokens can be used to access and create customized Aion-compatible participating blockchains.