Theta Fuel (TFUEL) is the operating token of the Theta network, a decentralized platform designed for video and data streaming.
TFUEL is used for various operations within the Theta protocol, including payments to edge nodes for services such as artificial intelligence computing, video encoding/transcoding, and 3D rendering, as well as to deploy and interact with smart contracts.
Main features:
Operating token: TFUEL facilitates transactions on the Theta network, allowing payments for services and on-chain operations.
Staking and token burning: With the introduction of Mainnet 3.0, a new crypto-economic design for TFUEL was implemented, which includes staking and burning mechanisms to balance the token's supply and demand.
Support for smart contracts: TFUEL is used to deploy and interact with smart contracts on the Theta network, enabling decentralized applications and additional services.
Utilities:
Payments for network services: Users employ TFUEL to compensate edge nodes that provide services such as video transcoding and artificial intelligence computing.
Incentives for network participants: Nodes that contribute resources to the Theta network are rewarded with TFUEL, incentivizing participation and strengthening the decentralized infrastructure.
Interaction with smart contracts: TFUEL is necessary to deploy and use smart contracts on the platform, enabling a variety of decentralized applications.
Technical document:
Theta Labs has published several technical documents detailing the architecture and functionalities of the Theta network.
One of them is:
- "Mainnet 3.0 Whitepaper"
Which introduces the new crypto-economic design for TFUEL, including staking and token burning.
Annual evolution of the price of Theta Fuel (TFUEL):
This is a list with the approximate price of TFUEL at the end of each year since its launch:
2019: $0.0024
2020: $0.0100
2021: $0.1938
2022: $0.0552
2023: $0.0808
2024: $0.0764 (as of December 15)
* Theta Fuel plays an essential role in the operability of the Theta network, facilitating transactions and services within its decentralized ecosystem *
