Gas Token
Also known as: Transaction Fee Token, Blockchain Fee Asset, Native Gas Asset
A tokenized asset used to pay transaction fees on blockchain networks, often representing native tokens like ETH.
A gas token is used to pay for computational resources when executing transactions or smart contracts on a blockchain. While the term often refers to Ethereum's ETH, many other blockchains have native tokens that serve as gas (e.g., BNB on Binance Smart Chain, AVAX on Avalanche). These tokens are essential for network operation, incentivizing validators and preventing spam. Some gas tokens are also created as smart contracts to 'store' gas at lower prices and redeem later, though such strategies have become obsolete with upgrades like EIP-1559.