Avalanche Native token AVAX
The native asset of Avalanche is the AVAX token. Its total quantity is now 720,000,000 tokens, with over 70,000,000 in circulation. When a user interacts with AVAX, a certain amount is burnt, promoting scarcity.
AVAX tokens holders can stake them on the Avalanche platform and users are supposed to construct an Avalanche Wallet and a Key Phrase.
Staking also increases the value acquired by using the AVAX deflationary token technique. The AVAX tokens that were used to pay transaction fees are destroyed, permanently decreasing the cost of AVAX in existence.
AVAX token plays the same role on the C-chain that ETH does on the Ethereum network. When you create a smart contract, you pay the transaction fee with AVAX. Using native EVM tools and libraries, you can transmit AVAX to a smart contract and move it among accounts.