The native token of Spores Platform (SPO) is known for several attributes such as community governance and also, DeFi utilization with NFT-creator-centricity and DeFi-community-driven purpose. SPO is used to incentivize NFT creators, buyers, agents, and liquidity providers across the ecosystem.
Spores token allow several benefits as SPO holders can propose and vote on on-chain governance proposals to determine future features and/or parameters of the Spores platform, with voting weight calculated in proportion to the tokens staked (the right to vote is restricted solely to voting on features of the Spores platform; it does not entitle SPO holders to vote on the operation and management of the Company, its affiliates, or their assets or the disposition of such assets to token holders, and does not constitute any equity interest in any of these entities or any collective investment scheme, and the arrangement is not intended to be any form of joint venture or partnership).
In addition, As the base platform currency, SPO may be utilised to participate in a variety of interactions with integrated third party DeFi protocols (e.g. LP mining, staking, usage as collateral for lending), to engage with these protocols and receive incentives for such engagement. Usage of SPO for payment of fees would entitle a user to discounted fees. SPO may also be acquired to pay for periodic subscription plans relating to NFTs (e.g. Elite Club subscriptions to receive exclusive NFT airdrops, collectible rewards and presale access to exclusive NFT drops).
