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This week, pax.world launched $PAXW, its proprietary utility token for the metaverse. The process of designing and launching $PAXW has provided a clear understanding of the inherent purposes of the token, its enormous potential, Y possible dangers.

Let’s start at the top:

A utility token is a cryptocurrency that has a specific purpose within a particular ecosystem. Utility tokens give holders the right to perform specific actions on a blockchain network or decentralized application; in this case, $PAXW is native to pax.world. It’s a utility and governance token rolled into one: minted, stored, and kept secure on the blockchain.

One of the purposes of $PAXW is to give the token holder a stake in the governance of the platform. Typically governance tokens can contain…