What is DOT and what is it used for?

[etfs]

DOT is the native cryptocurrency of Polkadot, and it plays several key roles within the network. It is used for governance, allowing holders to vote on upgrades and changes to the protocol. It’s also used for staking, where users lock up DOT to help secure the network and earn rewards.

Additionally, DOT is used for bonding, which is required to add new parachains to the network. This makes DOT essential not just as a currency, but as a core component of how Polkadot operates and evolves.

[AIcash]

dot’s utility goes beyond trading, especially with governance and staking