The symbol $STX refers to the token for Stacks

a layer-1 blockchain solution designed to bring smart contracts and decentralized applications to Bitcoin.

Stacks uses a unique consensus mechanism called Proof of Transfer , which anchors the Stacks blockchain to Bitcoin, leveraging its security and stability while enabling faster and more scalable smart contract capabilities.

The STX token is used for several purposes within the Stacks ecosystem, such as:

Transaction Fees: STX is used to pay for transaction fees and to execute smart contracts on the Stacks blockchain.

Stacking: Users can "stack" STX tokens to earn rewards in the form of Bitcoin, which incentivizes long-term holding and staking.

Governance: holders participate in the governance of the network, helping to influence key decisions about protocol upgrades and other features.

If you're referring to a different $STX or want more details, feel free to clarify.

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