What is NEXT

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NEXT is the governance and utility token of Connext. NEXT is deployed as an xERC20 (crosschain native) token on every chain Connext supports.

How is NEXT used?

At launch, NEXT is used to govern the Connext DAO, an organization responsible for allocating funding for the ongoing development of the protocol.

True decentralization and permissionless operation of the Connext protocol are achieved by ossifying repeatable governance processes and enshrining them directly into the underlying protocol. This process is called ungovernance.

In the future, NEXT can additionally be used to ungovern the network by making activities such as routing, chain support, and token listing permissionless via NEXT staking, subject to DAO approval.