XL1 XL1 Rank #2439

XL1 is the native utility token of XYO Layer One, a scalable Layer 1 blockchain designed to bring verifiable real-world data on-chain. As the gas and transaction token of the network, XL1 is used to pay fees for on-chain activity, with a portion of those fees burned, and to power smart contracts, decentralized applications, and validator rewards. It also supports staking, step-based reward mechanisms, and bridging or wrapping to other chains. The network operates a dual-token model in which XL1 runs the blockchain itself, while XYO powers the contributor ecosystem, governance, and security. XYO functions as a decentralized physical infrastructure network (DePIN) and trustless oracle, leveraging more than 10 million nodes together with proprietary Proof of Location and Proof of Origin protocols to verify real-world data. This infrastructure supports applications in artificial intelligence, real-world assets, geospatial intelligence, and location-based gaming, aiming to provide trusted data feeds for both Web2 and Web3 systems.