What is Scifi Finance (SPICE) | What is SPICE token

The $SCIFI mission assembles veteran engineers, seasoned experts and the most daring citizens of crypto space to discover and grow the most valuable gems in the vast reaches of the universe and to harvest the spoils of the adventure in the form of a governance token, $SPICE. $SCIFI represents a hand-curated basket of gems, automatically rebalanced on a monthly basis. $SCIFI is 100% collateralised and tradable on any ERC20-enabled DEX. $SCIFI and any potential future missions are governed by the community. Supporting the $SCIFI mission by holding $SCIFI, providing liquidity, promoting it or providing essential infrastructure is rewarded with a governance token called $SPICE.

The world of finance is on the brink of disruption. Centralised financial governance schemes have seen their pinnacle of innovation. The rule of CeFi has become disconnected from the needs of the average citizen. Capital requirements, cross border movement difficulties, stellar management fees and information asymmetries have barred the majority of society from access nurturing the expansion of a new, decentralised universe.

New risks demand new technologies. New technologies create new opportunities. And so we board a ship to venture into the depths of the DeFi wormhole in search of more democratic access and community-driven exploration. A ship where efficiency and architectural transparency is implemented by design, which is navigated by the experienced, knowledgable and impactful and which anyone can board and contribute with their resources and skills to create value for and with the community.

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Introducing $SCIFI

$SCIFI represents a hand-curated basket of gems, automatically rebalanced on a monthly basis. $SCIFI is 100% collateralised and tradable on any ERC20-enabled DEX.

$SCIFI and any potential future missions are governed by the community. Supporting the $SCIFI mission by holding $SCIFI, providing liquidity, promoting it or providing essential infrastructure is rewarded with a governance token called $SPICE.

$SCIFI combines the best of curated investment strategies, expert curation and decentralised ledger technology:

DAO governance: $SCIFI’s lift-off is guided by Mission Control and the Galactic Council, but will be community-governed after the first 6 months.
Experts: The ‘Galactic Council’ is the representative body that joins Mission Control in the creation of SCIFI.
Diversified investing: A single token provides exposure to a basket of vetted tokens, automatically rebalanced.
Zero fees: No fees will be charged. $SCIFI is free and always will be.
Secure: SCIFI is 100% collateralised, audited and open-source.

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The Galactic Council

As the DeFi universe keeps expanding, it becomes more and more difficult to discover the gems among the noise. So we summon reputable specialists with deep knowledge and experience to the ‘Galactic Council’ to support Mission Control.

The Council…

… consist of industry experts and key opinion leaders,
… is installed by Mission Control for the first 6 months,
… can be newly voted by the SPICE DAO every 6 months,

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SPICE — the most valuable asset in the universe

$SPICE is a governance token that is rewarded to all participants of the $SCIFI mission and enables the participation in governance decisions. A portion of $SPICE is allocated to the creators and enablers of the SCIFI mission, while the remaining supply can be actively or passively earned by the community.

The SPICE must flow.

**A total of 42 million $SPICE exists. **All $SPICE will be distributed over a period of a maximum of 5 years for A) the creators and infrastructure providers of the project, B) active participation through promotion or liquidity farming and C) for passive support (hodling) of the SCIFI mission and its partner tokens.

$SPICE is distributed to stakeholders as follows:

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A total of 64% of all SPICE will be allocated to the community via the Big Bang, liquidity mining, $SCIFI staking and the control over the treasury

Details

**Public sale: **8% will be distributed via a decentralised distribution mechanism.
**Private sale: 3.5% will be offered to early supporters. **30% of these will be unlocked, the rest vested linearly over 6months.
**Partners and experts: **17.5% will be distributed over 3 years to industry experts and partners that curate the index and provide infrastructure.
**Team: **15% is allocated over 3 years to thefounders of the $SCIFI mission and the discoverers of $SPICE.
**Community: **2.5% is given to holders of $SCIFI and holders of selected partner tokens, regressively over 12 months.
**Liquidity farming: **5% of$SPICE can be earned by providing liquidity for $SCIFI on Uniswap or any other DEX over the first 42 days.
**Treasury: **48.5% is kept in the Galactic Treasury and released on a yearly schedule. The use of these funds will be decided by the SPICE DAO.

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The SPICE DAO governs the SCIFI mission

$SPICE conveys governance over $SCIFI and any future missions to the SPICE DAO. The SPICE DAO will effectively take the responsibilities of selecting the Galactic Council, defining potential future missions, deciding on the usage of the Galactic Treasury and other governance related topics.

He who controls the SPICE controls the universe

The path to DAO governance will require initial kickstart and a first test run of the SCIFI mission. The first governance voting will be enabled in Q1 2021. The process for governance voting will follow a simple path:

General discussion on discord
Distillation of discussion to a dedicated forum post
Discussion and iteration of said post
Formalisation of specifications to form a proposal
DAO vote via Snapshot

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