POLYX is the protocol-native token of the Polymesh blockchain. It is a utility token used for staking, paying transaction and protocol fees, participating in governance, and incentivizing node operation.

For more information about POLYX, visit polymesh.network/polyx.

POLYX functions as a utility token by enabling access to Polymesh onchain functionality—such as asset creation and transaction execution—while securing the network through staking.

Yes. Transaction fees are based on size and complexity; protocol fees apply to certain operations like ticker reservation. Both are paid in POLYX and distributed to Node Operators.

Polymesh uses nominated proof-of-stake (nPoS), where licensed Node Operators are selected to validate blocks and receive staking rewards in POLYX, which they share with their Stakers.

POLYX holders can stake by nominating Node Operators. Nominated POLYX is bonded and cannot be transferred until unbonded, with a 28-day unbonding period. Rewards are distributed daily based on Node Operator performance.

At this time, only Node Operators are subject to slashing penalties, however this could change in the future.

An easy way to stake POLYX is by using the Polymesh Portal.

Node Operators are licensed or registered financial entities approved to operate validator nodes on Polymesh. They are responsible for producing and validating blocks and maintaining the network, in exchange for earning POLYX rewards. Node identity is known and permissioned to meet institutional standards. You can view a list of operator nodes here (note, entity names connected to each node may be available in the Polymesh Portal).