Covalent X Token CXT Price

What is Covalent X Token (CXT)?

Covalent is a platform that simplifies access to blockchain data. It offers a unified API, which means developers can get detailed information from different blockchain networks through a single interface. This is useful for developers, businesses, and researchers who need a comprehensive view of blockchain activity.

What is Covalent X Token (CXT)?

• Covalent X Token (CXT) is the native utility token of the Covalent Network. It plays several key roles:
• Staking: Operators use CXT tokens to stake on the network. This staking process helps maintain network operations and ensures its security. In return, operators earn rewards.
• Governance: CXT holders have a say in the network’s governance. This means they can participate in decision-making processes about the network’s future.
• Transaction Settlement: When developers use Covalent’s API, they pay for their queries in stablecoins. These stablecoins are converted into CXT tokens, which are then used to pay the operators. This creates a steady demand for the CXT token.

In summary, Covalent (CXT) is integral to the Covalent Network, supporting its operations through staking, governance, and transaction settlement.

What is unique about Covalent X Token (CXT)?

Covalent (CXT) stands out for its unified API that provides detailed blockchain data from multiple networks through a single interface, streamlining access for developers and researchers. Its native token, CXT, supports staking, governance, and transaction settlement, ensuring robust network operations and security.

Who are the founders of Covalent X Token (CXT)?

Covalent was founded by Ganesh Swami and Michael Wong, who have extensive experience in blockchain technology and data aggregation.

Who are the backers/investors of Covalent X Token (CXT)?

Covalent has received support from prominent investors including a16z, Electric Capital, and Framework Ventures, among others, who have backed its vision to enhance blockchain data accessibility.

Where can I buy Covalent X Token (CXT)?

 MEXC, Gate.io, OKX, KrakenCrypto.com