Covalent X Token CXT

Ethereum · Artificial Intelligence · Data Availability · Decentralized Finance · Ethereum Ecosystem · Infrastructure

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CXT is the utility token of the Covalent Network, a decentralized blockchain data infrastructure layer. It is used for staking by network operators and delegators to secure data indexing operations, governance voting on protocol proposals, and as the settlement currency denominating network rewards. API query revenue paid by developers in stablecoins is programmatically converted to CXT through open-market purchases, creating demand linked directly to network usage.