FET (Fuel for Ethereum Token) is a cryptocurrency token built on top of the Ethereum blockchain. It was launched in June 2019 and is used to pay transaction fees on the Fuel Protocol, an open-source protocol that enables developers to easily create their own decentralized applications (dApps). FET tokens are also used as payments within dApp ecosystems and can be traded on various exchanges.
The main purpose of FET is to provide incentives for users participating in different aspects of dApp development such as testing new features, providing resources or services, and curating content. The rewards paid out by network participants are denominated in FET which they can then use to purchase goods or services within the Fuel ecosystem. Additionally, it helps promote liquidity between other cryptocurrencies when trading across multiple protocols at once – allowing users access greater levels of price discovery than would normally be available if each asset were traded separately.
The value of FET has increased significantly since its launch due mainly thanks to speculation from investors seeking exposure into this emerging market sector that’s quickly gaining popularity with both institutional players and everyday people alike looking for alternative investments options outside more traditional markets like stocks & bonds etc… As demand continues rising so too should its relative value making it quite attractive even compared against some major cryptos currently dominating headlines today!
