PALM is the native token of the Palm blockchain network. Like other blockchain networks, PALM is used to pay for transaction fees (“gas”) whenever a user submits a transaction on the network. In this form, it is an essential utility that both prevents network spam and supports critical network infrastructure.
The PALM token will also carry governance rights, allowing community members to take part in the evolution and growth of the Palm network. Governance capabilities are not currently active but are expected to be rolled out later this year.