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TOKEN
ON GRAJ.

Token on the GRAJ protocol. One fee. 195 countries. Join the protocol.

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Protocol

ON TOKENS,
AND WHY NOT YET.

Being built

The obvious thing for a protocol like this to do is issue a token. It has not, and the reason is worth stating plainly rather than leaving as an absence somebody fills in with speculation.

The protocol works without one

Settlement, contribution, ownership and residuals all function on ordinary money and an append-only log. A token that is not load-bearing is a fundraising instrument with a technical costume, and the operators holding it carry the risk.

What a token would have to do

Solve a coordination problem that money does not: governance weight that cannot be bought outright, cross-instance settlement between independent nodes, or value accrual to contributors that cannot be expressed in a payout. None of those are load-bearing today because nodes do not exist yet.

The order matters

Issuing a token before the thing it coordinates exists means the token is priced on a promise. Building the coordination problem first, and only then asking whether it needs a token, is the sequence that does not require anybody to be optimistic on somebody else's behalf.

Status

No token exists, none is issued, and nothing on this protocol requires one. If that changes it will change here first, with the mechanism described before anything is distributed. Governance today needs no token: a vote is earned at Diamond on the GRAJ Score, one ballot per operator, and credits are money owed rather than a say.

Where to go next
/governance/protocol-nodes/mission-fund
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