What is LOOM Network Coin?

LOOM Network Coin, or simply LOOM, is the native cryptocurrency of the LOOM Network. This network is a blockchain-based platform specifically designed to enhance the scalability of Ethereum-based decentralized applications (DApps), particularly in the gaming and social media sectors. LOOM serves multiple roles within the ecosystem, including as a gas fee for transaction execution, a staking token for network security, and a governance token for community voting.