# EMYC Utility 1. Native Token: EMYC serves as the primary token for the E Money network. 2. Gas Fees / Transaction Fees: Use EMYC for transaction fees and pay for exchange. 3. Node Validator: EMYC allows users to become a node validator and earn EMYC tokens as rewards. 4. Contract Deployment Fees: Pay in EMYC to deploy any contract. 5. Staking: Stake EMYC for attractive APYs. . Staking $EMYC can give you more access to global IBANs and E Money Card. 6. E Money App Discounts: Holders can earn discounts on upcoming the E Money App. 7. Loyalty and Reward Programs: Introduce a loyalty program where power users earn tokens. 8. Peer-to-Peer Lending: Enable peer-to-peer lending using EMYC as the medium of exchange. Upcoming NFT- Limited Editions * Mint NFTs for pre-order limited edition cards from football clubs, influencers, etc. * Create NFTs for elite membership or account upgrades. ## Strategic burning Burning of tokens refers to sending tokens to an address from which the tokens become irretrievable. On the E Money Network, every transaction uses EMYC as gas fees. By default, a small percentage of gas fees for every transaction is burnt in E Money Network. The E Money Network strategically manages the token supply by implementing a burning mechanism of its native cryptocurrency, the EMYC. The consequent scarcity may increase the value of each remaining token, offering potential value appreciation for holders, particularly if demand remains steady or rises. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://whitepaper.emoney.network/products-e-money-network/e-money-coin/emyc-utility.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.