SPF Token: Airdrop, Minting and Blockchain Distribution
For the Spectrum Finance community, the launch of the SPF token is one of the most significant events over the past year.
This article is the first in a series in which we will share all the relevant information in great detail.
To fully understand the significance of token in the future of the project, we should start from the beginning.
Building DeFi for the future
The project first began when two developers — Ilya Oskin and Yasha Black worked together in VK and then later joined to develop on the Ergo blockchain. A little later, they came up with and created ErgoDEX, which eventually transformed into Spectrum Finance.
When the project is lead not by managers, but by people who truly understand all the nuances of the product, then the risk of development going wrong is minimised. From the very beginning, the founders decided that Spectrum Finance would be a fully open source project and today we are happy to say this is still the case. We do not hide any secrets from the community and we have serious goals, an open team and regular updates of all events in development.
Today the Spectrum Finance team contains almost 20 people and this number continues to grow. It brings together professional developers, designers, marketers and managers. Each of us has a name, a face, experience and a desire to bring truly large-scale ideas to life. You can read about all the members of team on the website and on Spectrum Labs Twitter.
We have already developed the first eUTXO DEX, and in the future we will build the first native cross-chain DEX and take DeFi to the next level by allowing the liquidity of different blockchains to move freely.
Who will own the SPF token
A significant part (>75%) of SPF tokens will belong to the community. Some of the tokens will be distributed to the first users of Spectrum Finance: traders, liquidity providers, off-chain operators and winners of the NFT giveaway.
We are very grateful to this group of people for helping to grow and make DEX what it is today.
💜 Beta testers — 2,573
A = 3,502 * 100 SPF = 350,200 SPF (0.03502%)
🦾 Early off-chain operators — 7
A = 7 * 1,000 SPF = 7,000 SPF (0.00070%)
💸 Traders — 18,827
A = 18,827 * 20 SPF = 376,540 SPF (0.03765%)
💰 Liquidity providers — 8205
A = 8205 * 80 SPF = 656,400 SPF (0.06564%)
🤖 Off-chain operators — 132
A = 132 * 500 SPF = 66,000 SPF (0.00660%)
🖼 NFT giveaway winners — 10
A = 10 * 500 SPF = 5,000 SPF (0.00050%)
👀 Total Preliminary Ergo Airdrop allocation — 1,461,140 SPF (0.14611%)
In the coming days, we will be sharing the tokenomics where you can explore the SPF distribution in detail.
Dev team will release a service where the number of tokens for each user will be displayed.
All users will get their tokens through vesting. We will tell you more about everything a little later. We do this to avoid a large impact of trading volumes on the value of the asset at launch.
We often say that the protocol aims to be cross-chain. We must take this into account when issuing a token.
50% will be released within the Spectrum Network and will act as an award for network validators.
The other half will be distributed among the Ergo and Cardano blockchains.
Total SPF supply is 1,000,000,000
Distribution will take place on 3 networks, it is described below:
Ergo — 9.1% (90.833.333.333333 SPF)
Cardano — 40.9% (409,166,666.666667 SPF)
Spectrum Network — 50% (500,000,000 SPF)
It is difficult to fit all the information about SPF in one place so we decided to split the big article into a few parts. Information about the launch strategy, tokenomics, token utility and more is already on the way!
As always, the latest updates come out in the Spectrum Finance Socials. Join so you don’t miss anything.
You can always ask our community manager about anything on Twitter, Discord or Telegram.
We will follow the most frequently asked questions and answer them in the future articles and posts.
Join our socials and keep for updates!