Spores Network is building a multi-chain interoperable NFT marketplace and DeFi protocols for Creative Industries: Animation, Collectibles, Digital Artworks, Fashion, Gaming, Sport Cards. Spores Network founders deeply believe that a digital “metaverse” is being built today that will revolutionize our thoughts and behavior with respect to living, owning, sharing our physical and digital lives. Crypto enables two exciting and eventual two paths: Decentralization of Ownership, Frictionless Redistribution of Capital.
In addition, Spores seeks to empower creators to create, exchange, and communicate their life’s work. Our Core Values are defined as: Creator Centricity, Frictionless, Borderless, Community.
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.
Moreover, 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 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.
In conclusion, Transaction fee is applied for any executed transaction (e.g. auction, exchange, swap), varying on many transaction types. These fees will be held in the Foundation Reserve Fund / community reserve, and then distributed to all platform contributors proportionate to their work performed, e.g. NFT creators, development proposals and work, or to incentivise platform engagement.
