Ecosystems

Understanding Blockchain Ecosystems

Each blockchain network has its own ecosystem and native token, which serve as the backbone for transactions and activities on that network. Let’s dive into why these unique ecosystems are important and how they differ from Ethereum.

---

Native Tokens and Their Role

Native tokens are fundamental to each blockchain's operation. They serve two critical purposes:

1. Transaction Fees (Gas Fees)
   Native tokens act as "gas" to pay for transactions on the network. For example:

   • Avalanche (AVAX): Required to process transactions or deploy smart contracts on the Avalanche network.
   • Polygon (MATIC): Used for staking, governance, and as gas for transactions.
   • Fantom (FTM): Powers transactions and applications within the Fantom ecosystem.
   • Solana (SOL): Necessary for transaction fees and executing programs on Solana's fast, low-cost network.

   Without the native token, no transaction can be processed. This is designed to maintain the network's security and efficiency.

2. Governance and Utility
   Native tokens often allow users to participate in the network’s governance (e.g., voting on proposals) or stake their tokens to secure the network.

---

Importance of Native Tokens in Wallet Transactions

When interacting with blockchain wallets, understanding native tokens is critical:

1. Avoiding Mistakes:
   Sending the wrong token to the wrong wallet can result in irreversible loss. For example:

   • Sending AVAX to a Polygon (MATIC) address will result in the funds being lost.
   • Each network has unique wallet addresses that are incompatible with others.

2. Gas for Transactions:
   Users must hold a small amount of the native token in their wallet to cover transaction fees. For example:

   • If you want to transfer USDC on Avalanche, you’ll need AVAX in your wallet to process the transaction.
   • This ensures the network remains decentralized and efficient.

3. Efficiency Over Ethereum:
   Compared to Ethereum, which often suffers from high gas fees due to network congestion, ecosystems like Avalanche, Polygon, and Fantom offer:

   • Lower Fees: Native tokens like AVAX, MATIC, and FTM enable transactions with significantly lower fees compared to ETH.
   • Faster Transactions: These networks are optimized for speed and scalability, making them more suitable for high-volume activities.

---

Wallet Compatibility Across Networks

✅	Network	MetaMask	Trust Wallet	Phantom	Ledger Nano	Trezor	SafePal
✅	Avalanche	✅	✅	❌	✅	✅	✅
✅	Bitrock	✅	✅	❌	✅	✅	✅
✅	Doge	❌	✅	❌	✅	✅	✅
✅	Fantom	✅	✅	❌	✅	✅	✅
✅	Polygon	✅	✅	❌	✅	✅	✅
✅	Solana	❌	❌	✅	✅	❌	✅

---

Wallet Recommendations

To make the most of these ecosystems, choose a wallet compatible with your needs:

• MetaMask: Best for EVM-compatible networks like Avalanche, Fantom, and Polygon.
• Phantom Wallet: Ideal for Solana and Solana-based assets.
• Ledger Nano: A secure hardware wallet for long-term storage across all major blockchains.
• SafePal Wallet: A versatile wallet supporting multiple ecosystems, including Dogecoin and Solana.

---

Learn Before You Leap: DYOR (Do Your Own Research)

Before exploring crypto on the Quicky platform, take the time to fully understand how decentralized finance (DeFi) wallets work. Mismanagement can lead to permanent loss of funds. We strongly encourage users to:

• Familiarize themselves with DeFi wallets like MetaMask.
• Learn best practices for managing private keys and securing funds.
• Explore beginner-friendly resources like MetaMask’s Web3 101 Course.

By understanding the unique ecosystems and native tokens, users can ensure safe and efficient participation in the world of blockchain and DeFi.

---