Circle's Arc Network has unveiled the whitepaper for its ARC token, positioning it as the network's "native coordination asset." The ARC token will primarily facilitate economic governance and fee mechanisms, and support the network's transition from Proof of Authority (PoA) to Proof of Stake (PoS) through staking. The whitepaper clarifies that the ARC token is not yet officially issued and is intended solely for internal network operations. It does not represent equity or dividends in Circle and lacks investment or security attributes.