Bitspawn Tokenomics Update and Crypto Economic Modelling

Staking Model

SPWN & NFT staking

SPWNGOD and SPWN holders will be able to link their wallets to the bitspawn.gg app and receive staking rewards in SPWN tokens.

If holders of SPWNGODs are already staking SPWN tokens, their NFTs will add a staking multiplier to their existing pool.

Bitspawn Staking v1 Logic Framework:

  • Staking pool to accept reward token and staking token

Token Burning

Bitspawn is implementing a token burn function based on network performance. All fees for token burning collected will be used to burn ERC20 SPWN tokens over time. We seek to cut the ERC20 supply for SPWN in half, moving the majority of the supply of SPWN over to Solana. The token burn is capped at 500 million ERC20 SPWN burned, resulting in a lowered total supply from 2 billion to 1.5 billion SPWN. The burning will be done over an extended period of time. As the Bitspawn network grows in user activity, the burning rate will increase. This burning mechanism is intended as a deflationary tool.

DAO

Bitspawn is creating a DAO for token holders. SPWN token and SPWNGOD NFT holders will gain access to a private discord group where they can vote on development updates, vote on community projects for token grants, and vote on tokenomics enhancements.

Bronze Level:

  • Holding any amount of SPWN or SPWNGODs

Silver Level

  • Holding a minimum of X SPWN or X SPWNGODs

Gold Level

  • Holding a minimum of X SPWN or X SPWNGODs

Crypto Economic Factors

Withdrawal Fees: 100% token burn

Staking Fees: 100% goes to project development.

NFT Collections: 100% goes to project development.

NFT Trade Fees: 40% project development; 30% token burn; 30% prize pools

Tournament and Challenge Fees: 40% project development; 30% token burn; 30% prize pools

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Bitspawn Protocol

Bitspawn is GameFi for Esports and NFT Gaming — Bitspawn is a web3 gaming protocol built for mainstream adoption, powered by Solana.