Are Seeds a security or utility token?
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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!
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.