The PONT coin will serve a similar function to other blockchain tokens such as DOT in that it will align incentives across actors on the network and reward good behaviour.
Some of the initial utility features of the token are as follows:
Payment of gas fees for the Move VM and transaction validation.
Collateral or security deposits for Bridge nodes (similar to the Polkadot Parachain auctions and Cosmos IBC auctions).
Staking delegators and delegates (rewarding voters and delegators for participating in governance)