# IOTX Token

As for other similar Smart-Contract platforms, in IoTeX we have the concept of "native token": a token that is an integral part of the blockchain protocol and has multiple uses focused to run the platform itself. The native token on the IoTeX blockchain is called "IOTX", and it is used for paying GAS fees when you send actions to the network (such as token transfers, smart contract executions, staking actions, etc...), but it's also used to reward block producers for maintaining the blockchain, or for cross-chain actions to transfer assets across different IoTeX subchains or to other blockchains.

# IOTX Fractions

There are 6 fractions of the IOTX tokens, where 1 Rau is the smallest IOTX token unit:

Fraction IOTX Value Rau Value
1 Rau 10-18 IOTX 1 Rau
1 KRau 10-15 IOTX 103 Rau
1 MRau 10-12 IOTX 106 Rau
1 GRau 10-9 IOTX 109 Rau
1 Qev 10-6 IOTX 1012 Rau
1 Jing 10-3 IOTX 1015 Rau
1 IOTX 1 IOTX 1018 Rau