# Utility and Governance Token

*FrogPay’s core-protocol token serving as a multifaceted tool for both utility within the ecosystem and governance by the community.*

*As token holders, users are granted significant capabilities that include:*

* **Voting on Smart Contract Upgrades**: Token holders have a say in the evolution of the platform, using their tokens to vote on upgrades to the smart contracts that form the infrastructure of FrogPay.
* **Modifying Protocol Global Params**: The community can propose and vote on changes to the Global Params, which dictate the fundamental rules and fee structures of the protocol.
* **Approving KYC Providers**: To maintain the integrity and trustworthiness of the platform, token holders vote on the admission of new KYC providers, ensuring they meet the community's standards for security and compliance.
* **Adjusting Ecosystem Rewards**: The distribution of rewards tokens for ecosystem development can be approved or modified by token holders, allowing them to directly influence the incentives that drive growth and participation within FrogPay.
* **Enabling New Capital Tokens for P2P Payments**: While USDC is the current default for P2P transactions, the community can vote to add new capital tokens, expanding the currency options available for users to transact with.