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ENCS is the utility and governance token of the ENCOINS protocol.
Relay servers are community-run backend apps that process requests, build transactions, and collect fees for their work. In order to participate in the protocol, the relay server is required to have a delegation of at least 100k ENCS behind it.
Users can post a special transaction, delegating all ENCS corresponding to their stake key to a particular relay.
Treasury funds distribution decisions, adjustments of protocol parameters, and other DAO governance actions will be made by ENCS token holders.