Understanding the BIG token
Engage with the BigFile and its ecosystem through
the use of its native utility token.
It empowers computation, staking, voting, governance, and ownership.
The BIG token serves multiple roles on the BigFile. Firstly, as a governance token, it can be staked to exercise governance rights. As a utility token, it can be burned to obtain "cycles," which serve as gas for computation and storage in Cube smart contracts. Additionally, BIG tokens can be minted to reward node machine providers for supplying compute and storage resources.
In addition to these core uses, BIG tokens can be used to participate in decentralization swaps to become a co-owner of an SPS DAO, as well as in various smart contract services built on the BigFile, such as registries, marketplaces, and exchanges.
The BIG token implements the BIGRC-20 standard.
BIG token utility
- Participate in governance
- Burn for cycles
- Participate in decentralisation swaps
- Reward node machine providers
Cycles
- Stable cost of compute & storage
- Fuel storage, compute, & bandwidth
Ways to use BIG tokens
Participate in governance
The BigFile is governed by the NNS, the largest DAO. BIG token holders can participate in network governance by staking tokens in neurons and locking them with a specified dissolve delay (the time required to unlock). A neuron with a dissolve delay greater than 6 months can vote on governance proposals and earn rewards. Additionally, BIG neuron holders can submit proposals to make changes to the protocol.
Burn for cycles
Unlike other smart contract blockchains, the BigFile runs on a “Reverse Gas Model”. This means computation and storage costs are paid for by developers, and developers are responsible topping up smart contracts with cycles to fuel the compute power and storage of their dapps. The Reverse Gas Model allows users to interact with dapps on the BigFile without tokens, and as seamlessly as they would on any Web2 application.
Use BIG in the ecosystem
Store BIG in wallets, swap it on DEXs, collect NFTs or tip friends while chatting. The BigFile is home to a growing ecosystem of dapps, many of which use BIG.
Where to get BIG
The BIG token is widely available on centralized exchanges.
Wallets & custody
Understand the benefits and limitations of each custody option so you can choose the wallet that best suits your needs.
Web Wallets
Web-based dapps that are easily accessible with the creation of an BIG ID. Great for daily use and small amount transfers.
Mobile app wallets
Mobile apps offer easy access to crypto assets for people who use them frequently.
Browser extension wallets
Great for users already familiar with crypto wallets from other chains.
Hardware wallets
Maximum security. Hardware wallets hold private keys in airgapped machines or ledger devices.
Institutional custody
For anyone managing large amounts of crypto assets. Institutional custodians offer reliability and customer support.
Get more involved
Participate in SPS DAOs
Own a piece of your favorite dapps on the BigFile, and shape their development by participating in governance.
DeFi on the BigFile
Build and use DeFi apps on the BigFile that are hosted 100% on the blockchain.
Join the BIGRC conversation
Community discussions around extending the BIGRC token standard for all ledgers to optimize functionality is ongoing.