iconIn progress
logo
Expert question
iconMark the best answer to this question and earn +2 reputation points

Are Seeds a security or utility token?

Hi SEEDS Community: I have a question about the official description of the Seeds token i.e. are they a utility, security, currency, reward or asset? I remember reading this somewhere but cannot remember where. Thanks!

Answers 1

Seeds are a utility token.

Simply owning Seeds does not grant a person or an account rewards or a share in profits.

Owning Seeds does not grant a person or an account voting rights.

Owning Seeds does not give a person or an account ownership over Hypha Limited (the organisation building SEEDS) or of SEEDS itself. As SEEDS is open-source code owned by no one.

A share of the harvest (rewards) and voting rights are based on an accounts "Contribution Score" of which "Planted Seeds" is but one metric. So, Seeds play a role in making this happen - but to repeat - simply owning Seeds does not give a person these rights!

Seeds are used to give an account access to SEEDS and it’s services - such as reserving network bandwidth and accessing financial contracts.

Seeds are a Utility token in that they are required to access SEEDS.

Seeds are a currency in that they are an ideal (better than free) medium of exchange.

|
Preview
Nothing to see yet