Introduction of EGC
EGC is the native coin that powers the EGC Chain ecosystem. It serves as the fuel for every transaction and interaction that happens on the blockchain. Whenever you send funds, interact with a smart contract, deploy a dApp, or participate in governance, EGC is required to process and record those actions on the chain. Just like ETH on Ethereum, EGC is essential for keeping the network secure, functional, and decentralised.
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Why EGC Exists
EGC plays multiple roles within the EGC Chain:
Transaction Fees: Every on-chain action requires a small EGC fee to compensate validators for their work in verifying and adding transactions to blocks.
Validator Rewards: Validators earn EGC as incentives for keeping the network secure and processing transactions honestly.
Governance Power: EGC holders can participate in the EGC Chain DAO, proposing and voting on important upgrades or ecosystem decisions.
Utility Payments: EGC can be used within decentralized applications, NFT marketplaces, DeFi platforms, and other services built on EGC Chain.
Value Exchange: EGC can be traded, stored, or reinvested in validator operations.
Reference: https://developers.eaglecoin.ai/developer-docs/introduction-of-mstc#why-mstc-exists
EGC Units – Wei, Gwei, and Beyond
To make transactions precise, EGC is divisible into smaller units — just like a rupee breaks down into paise or a dollar into cents. The smallest unit is called Wei, and it represents 0.000000000000000001 EGC (1 quintillionth of an EGC). Larger units, like Gwei, are commonly used to measure transaction fees.
Here’s a breakdown of EGCC units:
Wei
0.000000000000000001 EGC
Smallest unit used internally in computations
Kwei
0.000000000000001 EGC
Rarely used
Mwei
0.000000000001 EGC
Rarely used
Gwei
0.000000001 EGC
Commonly used for gas (transaction) fees
Micro
0.000001 EGC
Sometimes used for micropayments
Milli
0.001 EGC
Small transactions
MSTC
1 EGC
Standard unit
KiloMSTC
1,000 EGC
Large amounts
MegaMSTC
1,000,000 EGC
Very large holdings
For example, when you see a transaction fee of “20 Gwei,” it means 0.000000020 MSTC is charged for each unit of gas consumed by the transaction.
Gas Fees and EGC
Gas is the cost required to perform operations on EGC Chain, such as sending EGC or interacting with smart contracts. This gas is paid in EGC, and its price is usually expressed in Gwei. Gas fees incentivize validators to process transactions, prevent network spam, and ensure resources are used efficiently.
Circulation and Supply
EGC is the official currency of the EGC Blockchain, used for transaction fees, validator rewards, governance, and network utility. At launch, 50 billion EGC were minted to support ecosystem growth. On December 31, 2024, a major burn event reduced the circulating supply to 8,401,387,498 EGC, reinforcing scarcity and long-term stability.
Validators currently receive 200 EGC per block, with rewards halving every two years (200 → 100 → 50, etc.), creating a disinflationary supply curve similar to Bitcoin. This predictable reduction in new issuance balances growing demand from transactions, governance, and applications, helping stabilize value over time.
EGC in the Ecosystem
Beyond fees and rewards, EGC acts as a bridge between users, developers, and the network itself. dApp creators can integrate EGC for in-app purchases, NFT minting, or DeFi lending and borrowing. Users can hold EGC for staking, governance participation, or as a tradable digital asset. Every transaction and application running on EGC Chain strengthens EGC role as the economic backbone of the ecosystem.
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