STRAX is Stratis's platform token that powers Stratis, and STRAX can be used to purchase and operate services, such as executing smart contracts, paying side chain fees, and as collateral to run primary nodes -- nodes on the network that provide specific needed services. Stratis is a simplified, flexible, customizable blockchain development platform written in C# that makes it easy for businesses to develop, test, and deploy applications on the platform. Stratis helps customers customize blockchain policies and tailor solutions to their business needs.

Note that in November 2020 Stratis deployed a new blockchain that uses STRAX instead of the previous STRAT token. The token symbol has been changed from STRAT to STRAX. The token exchange ratio: STRAT: STRAX = 1:1.