What is Spore Finance (SPORE) | What is Spore Finance token | What is SPORE token
In this article, we’ll discuss information about the Spore Finance project and SPORE token
What is Spore Finance
Spore Finance aims at creating an ecosystem combining reflect tokens, algorithmically generated NFTs and the first NFT prediction market.
Amazed by the Avalanche Network first generation of pools, the first phase was to launch one of the first reflect tokens there to be.
On every transaction, 3% of the rewards are burnt forever and 3% are redistributed to all the owners.
Earn frictionless rewards while your spores spread! Deflation reduces the supply increasing the token value over time. The vision of the project is the vision of the community. It is going to evolve as spores spread.
Why Spores?
Spores are unicellular dispersal units, adapted for survival in unfavourable conditions and for long periods of time.
They are responsible for the spread of plants across the planet in the early days and mushrooms are spread everywhere because of them.
The purpose of mushrooms is to bear spores and release them into the environment. Any given mushroom may house and release as many as a billion spores. The spores are then carried by the wind or water and germinate if they land in a nice moist environment with a good food source. This method of dispersal has allowed for single species of fungi to be found all around the globe.
The bridge interblockchain AVAX — BNB (BSC)
For the gas cost of 2 transactions swap your $SPORE between the Avalanche C Chain (AVAX) to Binance Smart Chain (BSC)! This bridge is opening new opportunities for arbitraging and will stimulate the deflation of $SPORE. Here, find a technical description of the bridge mechanics.
It consists of 2 smart contracts on each blockchain bridged by an autonomous .js script. When the script listens to a transaction on one side, it makes a call on the other blockchain, sending the tokens to the same 0x address but on the other blockchain.
This banner was made by a community artist.
The transaction fee is used by the account that is linked to the script to pay for the gas to make the transaction on the other blockchain. Because of the apricot updates this fee can be updated in the future — it is expected to be lower.
The reflection will only be happening on the AVAX side, this will stimulate the migration of the tokens to this direction. In turn, this will drive up the price on the BSC side, stimulating people to bridge the tokens back for opportunities in arbitrage. The total supply of bridged tokens on the AVAX side will be locked inside the contract and the reflection earned for the tokens will be lost in the contracts balance, stimulating more scarcity of the token.
A very intuitive interface made 100% open source and available in our GitHub.
The reliance of an autonomous .js script for the bridge operations can be a limitation, but seen from another perspective it opens the possibility of creating a second layer blockchain in the medium term, that can be managed in a decentralized way, and that can also be used as an oracle in our future implementations.
BSC to AVAX interface.
Because we want to stimulate a useful migration for our BSC peers to the Avalanche Network, a ‘swap some SPORE for AVAX’ function has been implemented too, which will let the user have enough gas to exchange his $SPORE into $AVAX after the migration and participate of other decentralized DeFI projects. Thus, the choice of holding $SPORE is personal.
Tokeneconomics
- Dev fund : 0%
- Total Supply : 100,000,000,000,000,000 SPORE
- Burned Tokens (Avalanche) : 26,412,882,615,217,704 SPORE
- Burned Tokens (BSC) : 4,482,039,061,341,553 SPORE
- % of Burned Tokens : 30.89 %
- Number of token holders (Avalanche) : 1415
- Number of token holders (BSC) : 12732
How and Where to Buy SPORE ?
SPORE token is now live on the Binance mainnet. The token address for SPORE is 0x6e7f5c0b9f4432716bdd0a77a3601291b9d9e985. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough BNB in your wallet to cover the transaction fees.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step
You need a wallet address to Connect to Decentralized Exchange, we use Metamask wallet
If you don’t have a Metamask wallet, read this article and follow the steps
☞What is Metamask wallet | How to Create a wallet and Use
Transfer $WBNB to your new Metamask wallet from your existing wallet
Next step
Connect Trust Wallet to Pancakeswap Decentralized Exchange and Buy, Swap SPORE token
Read more: What is Pancakeswap | Beginner’s Guide on How to Use Pancakeswap
Contract: 0x6e7f5c0b9f4432716bdd0a77a3601291b9d9e985
https://app.pangolin.exchange/#/swap?inputCurrency=0x6e7f5c0b9f4432716bdd0a77a3601291b9d9e985
There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once SPORE gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
Find more information SPORE
☞ Website ☞ Explorer ☞ Explorer 2 ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Message Board ☞ Coinmarketcap
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you
⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐
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#blockchain #bitcoin #spore #spore finance
