What is the Arweave token (AR)?
The Arweave token (AR) is the native cryptocurrency of the Arweave network.
It is used to pay for transactions on the network, as well as to incentivize miners and developers. AR tokens are used to pay for storage and retrieval of data on the Arweave network, and they are also used to reward miners who secure the network. AR tokens are also used to fund development projects on the Arweave platform, such as applications and tools.
The Arweave token is an ERC-20 token built on top of Ethereum. It has a fixed supply of 1 billion tokens, with no inflation or deflation mechanism in place. The total supply of AR tokens is distributed among miners, developers, users, and investors.
The total supply of AR tokens will never exceed 1 billion tokens. The price of AR tokens is determined by market forces such as demand and supply. As more people use the Arweave network, demand for AR tokens increases, which in turn drives up its price.
On the other hand, if there is a decrease in demand for AR tokens, its price will decrease accordingly.
