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COVAL (Circuits of Value) is an Ethereum token that runs Emblem, a platform that allows users to combine ETH, ERC-20, and NFT tokens into a single trading token called a Vault. COVAL is an incentive for liquidity providers and may be used to establish Vaults.COVAL is then the underlying token, alongside a fee token called FUEL. FUEL is what actually propels the transactions. Circuits of Value is a token distributed as a reward for utilizing Emblem Vaults and staking. Developers are also using a set amount of COVAL �X about 20% of the 1.2 billion COVAL circulating supply �X for furthering the project and providing liquidity.