Smart Layer is considering using part of the ecological fees for the repurchase and destruction plan

On March 1st, SmartLayer announced the launch of its ecosystem token, SLN. Smart Layer is a new infrastructure layer for token utility and liquidity. The SLN token aims to capture the value of the entire ecosystem, including Smart Layer Network, Smart Layer Launchpad, and all tools and technologies.

The token has three basic purposes within the ecosystem:

1. Staking: Projects and users can earn SLN rewards, SLN fees, receive usage discounts, receive sales price discounts, participate in governance voting, or qualify for Launchpad projects through staking.

2. Payment method: Projects and users can use SLN to pay for tool, network, or Launchpad usage fees, leasing services, and more.

3. Gas and transaction fees: All transaction fees paid through tools, Launchpad, and network are collected in SLN form. In addition, Smart Layer is considering using a portion of its ecosystem fees for a buyback and/or burn plan. This plan means that SLN tokens will be repurchased from the public market and retained or destroyed, removing them from circulation, reducing the circulating supply, and driving up the SLN price.