The Warp token ($WARP) is the governance token of the Warp ecosystem and further used for incentive mechanisms. Once 50% of all WARP have been distributed governance will be enabled.
Users must have a threshold amount of WARP to submit a proposal. For instance, in order to provide further utility to the Warp token, token holders could vote to allow for transaction fees to be distributed to themselves.
A user’s wallet address is queried for the number of WARP it contains. One token is equivalent to one vote in the process of approving proposals.