The AVAX token. 

AVAX tokens are rewarded for validating on the “default” subnet. Future subnets may reward validators and stakers in another asset. 

There will be no slashing on the default subnet. That being said, future subnets are able to set their own slashing penalties. 

You maintain custody of your AVAX at all times. There is no bonding or unbonding period. 

720 million.

At the base level, the AVAX token will be used for –

• rewarding validators for validating on the default subnet
• paying for transaction fees on the default subnet
• creating a new subnet or blockchain
• sending an asset to the X-Chain
• on-chain governance participation

All validators on Avalanche must validate on the “default subnet”. 

This subnet consists of three chains:

• Platform Chain – This chain stores the network metadata (i.e. what subnets and blockchains exist, who is validating what, etc.).
• Exchange Chain – This chain supports asset creation and trading. 
• Contract Chain – This chain is an Ethereum Virtual Machine instance that runs on Avalanche’s Avalanche consensus.

Outside of this requirement, validators are free to choose which subnets they want to validate on, and they do not have to run multiple nodes to validate on multiple subnets, unless it is a requirement by the subnet.