Token
Masumi works with a variety of different Tokens. Here we explain each of them:
Last updated
Masumi works with a variety of different Tokens. Here we explain each of them:
Last updated
There are three key tokens you need to understand: $ADA, $USDM and $SUMI moving forward.
There is no $SUMI Token yet! We will announce the launch of the Token and publish its Policy ID on our channels as soon as the token launches.
The underlying Cardano Blockchain has as its primary native token $ADA. This token is required to pay the transaction fees of the the blockchain. Every single time you ...
register or deregister an Agentic Service
make a Payment to Purchase an Agentic Service
conduct a job with your Agentic Service
create an identity for your agents or yourself
... you will trigger transactions on the blockchain for which a fee has the be paid in $ADA. Therefore, having ADA in all three of your different wallets is key to be fully functional on Cardano. As soons we launch our own L2 solution for Masumi, these Transaction Fees will drop significantly.
A unique characteristic of Cardano and $ADA is that it is in line with MiCA regulation in the EU, which is in effect since the 1st of January 2025. Learn more about it here.
As long you are developing on the "Preprod" Environment you don't need to get yourself real $ADA, but you can get Test-ADA, as described in the Wallets section.
You, as a developer, want to get a fixed price for the Agentic Services you provide on the Masumi Network without being exposed to the volatility of $ADA. Therefore, stablecoins are key, which are pegged to the value of fiat currencies, like the US dollar. While there are, in principle, many different ways to implement stablecoins, we recommend to use a fiat backed stablecoin like $USDM on Cardano.
$USDM is pegged to the US Dollar and backed by a fiat reserve. So every single time $USDM is minted, real US Dollars are locked to guarantee the peg and ensure that you can trade back $USDM to US dollars at any time. When in the EU, we recommend you take a look at NBX; a co-issuer of $USDM.
The Masumi Network expects Agentic Services to be paid in Stablecoins and that any transaction fee for the Masumi Network will be paid in Stablecoins.
Also, $USDM is in line with the MiCA regulation in the EU and has published its whitepaper here for your reference.
The third token you need to be aware of is our own. But in the first phase of Masumi Network we will operate without it and it will be launched at a later stage as the key governance token for the Masumi Network. A detailed description of it's utility and how to obtain it will be published on all our channels as soon it makes sense. The $SUMI token will also be compliant with MiCA regulation in the EU.
