Photon (PHOTON)

Photon (PHOTON) is a pivotal component of the AtomOne ecosystem, introduced during the AtomOne v2 upgrade. Serving as the exclusive fee token, PHOTON is designed specifically for all transaction fees across the AtomOne network, including responsibilities related to Inter-Blockchain Communication (IBC) and Interchain Security (ICS) payments. This innovative approach within AtomOne’s governance emphasizes a clear separation of roles between its two tokens, with ATONE fulfilling the roles of governance and staking. The transition to using PHOTON for fees aims to establish a more efficient model for economic stability within the network.

The minting process for PHOTON is uniquely tied to the burning of ATONE tokens, making it a highly intentional mechanism. When ATONE is burned to mint PHOTON, it reduces the circulating supply of ATONE, essentially linking the creation of PHOTON to a capped supply of 1 billion tokens. This irreversible process ensures that the total amount of PHOTON in circulation is directly backed by the tokens that have been burned, creating a structured economic framework. The dual-token model not only enhances transparency but also mitigates common pitfalls associated with single-token economic systems.

As the AtomOne network evolves, the transition to making PHOTON the exclusive fee token will occur gradually, allowing users and developers to adapt their tools and processes seamlessly. Initially, both ATONE and PHOTON can be used for transaction fees, ensuring a smooth shift for the community. The decision-making process surrounding the full implementation of PHOTON as a sole fee token remains subject to future governance, reflecting the community-driven ethos of AtomOne. Through collaborative efforts, additional resources and tools are being developed to facilitate this transition, showcasing the collective commitment to advancing AtomOne’s objectives.