$SPICE Tokenomics
veSPICE
In order to cast votes in the project's DAO and in the DAOs of in-game associations, the user can stake $SPICE tokens. The owner can receive dividends if they control the votes and manage them well.
A specific user's available control votes are represented by the veSPICE token. A non-transferable token called veSPICE is issued for $SPICE staking. The amount of veSPICE at the user's disposal is determined by the time frame for which he chose to stake $SPICE. The table below shows how many veSPICE each staked SPICE will receive in accordance with the staking time period.
| Stake time | veSPICE |
|---|---|
4 years | 1 |
3 years | 0.75 |
2 years | 0.5 |
1 year | 0.25 |
1 month | 0.021 |
1 week | 0.005 |
Emission
Depending on the indicator of the staked $SPICE tokens' proportion to the total number of tokens in circulation, $SPICE is issued.
For instance, if the current total circulating supply of tokens is between 1.5 and 5 million tokens, then until the volume reaches 5,000,000 tokens, an issue in the amount of 5,000,000 / 90 will arise as long as the veSPICE inequality >20%* (the total volume of tokens) persists.
According to the equation (total veSPICE volume = 25% * total SPICE volume), each token in circulation is staked for an average of one year. Alternately, in the extreme case, a quarter of the tokens would be staked for four years.
This emission system encourages a long-term hold and makes sure that the rate of emission at any given time does not upset the market's equilibrium of supply and demand.
The parameters and conditions of the emission are displayed in the table below:
| If current Circulating Supply equals | Then $SPICE emission equals | As long as the inequality persists | Emission period (days) |
|---|---|---|---|
1 500 000 | 3 500 000 | veSPICE>25% * Circulating Supply | 90 |
5 000 000 | 5 000 000 | veSPICE>30% * Circulating Supply | 90 |
10 000 000 | 5 000 000 | veSPICE>35% * Circulating Supply | 120 |
15 000 000 | 5 000 000 | veSPICE>45% * Circulating Supply | 150 |
20 000 000 | 5 000 000 | veSPICE>55% * Circulating Supply | 210 |
25 000 000 | 5 000 000 | veSPICE>65% * Circulating Supply | 240 |
30 000 000 | 5 000 000 | veSPICE>75% * Circulating Supply | 270 |
35 000 000 | 5 000 000 | veSPICE>80% * Circulating Supply | 330 |
40 000 000 | 5 000 000 | veSPICE>85% * Circulating Supply | 360 |
45 000 000 | 5 000 000 | veSPICE>90% * Circulating Supply | 420 |
Staking Rewards
The user can utilize their veSPICE in various ways.
As a veSPICE owner, they hold the power to vote on significant global gaming matters, such as new features, changes to the economy, and the listing of tokens and NFT collections on the domestic market. To influence veSPICE owners towards a specific option during a particular vote, stakeholders can create and contribute to a pool of incentives. Users who vote for the incentivized option will receive rewarding SPICE tokens.
The ownership of veSPICE presents a unique opportunity for individuals to manage in-game Alliances and reap rewards in the form of collected taxes. A portion of the rewards, including exchange commissions and transaction costs generated by Alliance members in controlled territories, is allocated to the Alliance budget pool. This budget is then distributed among Alliance members based on their veSPICE holdings within the overall pool.
The veSPICE owner faces a challenging decision: whether to keep the reward for themselves or utilize it for the Alliance's benefit, bolstering its success and potentially earning even greater returns in the future.. For more information about using SPICE in the game, see the page $SPICE In-game Utility
Distribution
Hard cap: 50 000 000
85% — Staking rewards
6% — Development fund. 60m vested
9% — Pre-mint
Pre-mint: 4 675 000
Development fund: 1 000 000. 10% TGE, 24m vested
Liquidity: 1 150 000. 20% TGE, 8m vested
Seed: 700 000. 10% TGE, 6m lock, 12m vested
Private sale: 700 000. 10% TGE, 6m lock, 12m vested
Public sale: 700 000. 10% TGE, 6m lock, 12m vested
Team: 200 000. 12m lock, 12m vested
Partners, advisors and legal: 75 000, 12m lock, 12m vested
Note: all locked tokens are not considered a part of circulating supply
Last updated