Fuel Labs launches FUEL token, with 20% of the initial supply allocated to the community

ChainCatcher news, according to official sources, Fuel Labs has announced the upcoming launch of the native token FUEL for the Fuel network, with an initial total supply of 10 billion tokens, of which 20% will be allocated to the community.

FUEL will be used to secure the decentralized sequencer of Fuel and reduce user gas fees by introducing an application-specific sorting-based economic incentive structure. The launch is expected to take place within the next two weeks, and Fuel will also expand the community through the Fuel Points program Phase 2 and collaborations with Legion, Impossible Finance, and Bitget.