$PINE is a transferable governance and utility token used on the Pine platform, designed to incentivize users to participate in protocol activities and create a mutually beneficial ecosystem. Holders of $PINE have control over the PineDAO, which governs the development of the protocol and platform. The token is primarily distributed to key network contributors and enables them to propose and vote on on-chain governance proposals. In order for the protocol to function, users must stake assets in borrowing liquidity pools and are rewarded with $PINE. $PINE also functions as a loyalty membership point, granting users access to tier-based exclusive perks and rights.