Using the IC

What is the ICP token?

Internet Computer Protocol tokens (ICP) are the native utility token of the Internet Computer. Discover what ICP tokens are and how they can be used

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Introduction to the ICP Token

Learn more about the native utility token of the Internet Computer

What is the Internet Computer Protocol token (ICP)?

The Internet Computer token (ICP) is the native utility token of the Internet Computer. It enables users of the IC to participate in the ecosystem and to govern the blockchain network of the Internet Computer.

How is the ICP token used?

The native utility token of the Internet Computer serves a variety of different functions and plays a key role in the economics and governance of the Internet Computer:

Governance

Participating in the Internet Computer’s governance is possible by staking ICP in Neurons.

Cycle Conversion

ICP can be converted into cycles.
The IC’s canisters (computational units, i.e. smart contracts) are powered by these cycles.

Staking ICP

The ICP token can be staked in Neurons, allowing you to earn rewards and to participate in governance.

Transactions

Any kind of transaction on the IC is powered by ICP tokens, ranging from transaction fees for transfers to exchanging ICP for other assets

Use cases based on user group

There are different use cases for the ICP token which depend on the user group and their goals and acquiring tokens.

Developers

Developers or entrepreneurs that build on the IC use ICP tokens to convert them into cycles. These cycles are then used to pay for running canister smart contracts that power the decentralized applications running on the IC.

Community Members

Members of the community wishing to have an active say in the governance of the Internet Computer lockup their ICP tokens by staking them in neurons. Doing so allows them to submit and vote on governance proposals.

Node Operators

Node providers power the Internet Computer by offering computing power required to support dApps running on the IC. In exchange for providing compute capacity, node operators are rewarded with ICP tokens.

Neuron Holders

Neuron holders are individuals that stake their ICP tokens to participate in the governance process of the IC by submitting and voting on proposals. As a reward, neuron holders receive ICP tokens.

The token value may fluctuate depending on supply and demand. For this reason, tokens are not directly used to pay for resources on the IC.

Get ICP

There are different ways to get your very first ICP tokens. Learn how you can buy ICP from centralized/decentralized exchanges or through other activites

Get ICP tokens

Staking ICP Tokens

Learn how you can stake ICP tokens on the Network Nervous System (NNS)