Spores’ native token
Spores Network is building a multi-chain interoperable NFT marketplace and DeFi protocols for Creative Industries: Animation, Collectibles, Digital Artworks, Fashion, Gaming, Sport Cards
The native digital cryptographically-secured fungible (i.e. ERC20 / BEP20) token of the Spores platform (ticker symbol SPO) is a transferable representation of attributed governance and utility functions specified in the protocol/code of the Spores platform, and which is designed to be used solely as an interoperable utility token on the platform. SPO is designed to be NFT-creator-centric and DeFi-community-driven, and to incentivize all contributors and participants across the whole Spores ecosystem.
As the economic incentive for network participation SPO token incentives will be distributed to incentivise users to participate in community governance, reward contributors on the platform and other utility purposes including platform fees discount. Community incentives (NFT minting, trading, LP mining and other DeFi rewards):
• Reward for NFT creators for each newly minted NFT on Spores platform.
• Reward for buyers and sellers per confirmed transaction (auction, exchange, etc).
• Reward for LPs to provide liquidity on the platform supporting transactions related to SPO.
Spores Token usage
SPO would allow holders to 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).
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 lending), to engage with these protocols and receive incentives for such engagement. Usage of SPO for payment of platform 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).
• NFT-DeFi incentives
• NFT club subscription
- Governance & Voting