Easily define your Utility token inside the DAO settings.
The token can be used to grant its holders access to a specific service or feature within the DAO. For example, only token holders might be allowed to use a certain software, access content, or participate in certain activities.
In DAOs that operate on Proof of Stake (PoS) or other consensus algorithms, utility tokens can be staked or committed as a show of good faith and to validate work or operations within the network.
The token might be used as a currency within the DAO's ecosystem. Members might use it to buy services, pay for goods, or trade amongst each other.
DAOs often reward contributors or members for their work, commitment, or other activities. Utility tokens can be a form of that reward, either granted outright or earned through specific actions.
In our ecosystem, members need to lock up (or "stake") tokens as collateral to participate in certain activities, ensuring they have a vested interest in the outcome.