Transaction fees being the native currency on the CloudTx chain, CLD is required to pay fees to the network in order to approve transactions.
Token holders can stake CloudTx to become a validator. The minimal staking requirement is 250K.
Validators vote on protocol changes with their staked CLD. Which means validators with higher amounts of CloudTx staked can have a bigger vote on network upgrades and governance changes.
As CLD is the native currency on CloudTx, sending it does not require interactions with smart contracts. Thus, CLD transfers are potentially faster and less costly in terms of transaction fees.