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
  • Pool owner to manage the the staking parameter
  • Managed by DAO in the future
  • Fund staking rewards to the pool by individual and partner
  • Staking SPWN token to the pool
  • Dedicated staking account for each owner address who holds SPWN
  • Stake to the pool
  • Withdraw staking rewardprovide
  • Staking SPWNGODS NFT to increase the staking reward fix return rate
  • SPWNGODS NFT need to be locked to gain the reward bonus
  • Each traits of the SPWNGODS NFT will benefit a fixed return bonus pre-defined by traits rarity
  • Staking account owner need to send a tx to unlock NFT, once unlocked, the reward bonus will not be available anymore

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
  • Access to polls including:
  • Giveaways, feature updates, events, game integrations

Silver Level

  • Holding a minimum of X SPWN or X SPWNGODs
  • Access to everything in Bronze Level plus:
  • Voting on development roadmap, partnerships, influencers, exchange listings

Gold Level

  • Holding a minimum of X SPWN or X SPWNGODs
  • Access to everything in silver level plus:
  • Voting on tokenomic updates, crypto economy updates, grants to community projects

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 Protocol

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