7 - Token Utility
The native digital cryptographically-secured fungible (i.e. ERC20 / BEP20) token of the Spores platform (ticker symbol SPO) is a transferable representation of utility functions specified in the protocol/code of the Spores platform, and which is designed to be used solely as a utility token on the platform. SPO is designed to incentivise all contributors and participants across the whole Spores ecosystem.
Launchpad
Staking SPO tokens is how the community gets to participate in launchpad projects on Spores Network. Spores has a tier-based system that is fully oriented toward the community. Each of the tiers is calculated based on the amount of SPO staked and provides different investment opportunities on the Launchpad
Marketplace
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.
Community incentives (NFT minting, trading and LP):
Rewards for NFT creators for each newly minted NFT on Spores platform.
Rewards for buyers and sellers per confirmed transaction (auction, exchange, etc).
Rewards for LPs to provide liquidity on the platform supporting transactions related to SPO.
Incubation
SPO tokens will be incorporated into the ecosystem of incubated GameFi and Metaverse projects as a utility token
Staking
Staking is the process of holding tokens in a smart contract-based liquidity pool to support the operations of a network. Participants are rewarded for depositing and holding coins, with constant guaranteed time-based returns. Rewards are calculated based on staking time: the longer you stake, the more you earn.
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