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It is the currency of ICON applications. It can be used for sending or receiving payments on the blockchain and pays for ICON transactions.
ICX staking means locking up the ICX in your wallet for a set period of time in return
daily ICX rewards. You must delegate the staked ICX to a Public Representative (P-Rep) in order to
This doesn’t mean that your ICX is sent to the P-Rep as it remains locked up in your wallet and control. The lock up period varies as network activity changes, but is currently at around 8 days.
It is important to delegate to P-Reps that add value to the ICON ecosystem to ensure the growth of the network and your staked ICX.
ICX can be used to interact with Dapps on the network. ICON has an ever expanding ecosystem of applications.
ICX can be used to participate in ICON’s governance: staking and delegation.