How Does the Utility of a Governance Token Differ from That of a Payment Token?

A governance token's primary utility is granting its holder the right to vote on protocol upgrades, treasury management, and fee structures, essentially conferring a share of control. Its value is derived from the power to influence future economics.

A payment token's primary utility is as a medium of exchange to pay for goods, services, or transaction fees. Its value is derived from its acceptance, stability, and efficiency as a means of payment.

While both can have secondary uses, their fundamental economic drivers are control versus transactional efficiency.