What is Splinterlands (SPS) | What is Splinterlands token | What is SPS token
In this article, we’ll discuss information about the Splinterlands project and SPS token
Splintershards (SPS) is a new cryptocurrency governance token which will be integrated into the Splinterlands game in order to provide increasing levels of decision-making ability and control over the product to the player-base, asset owners, and other stakeholders.
This document will cover all aspects of the new token, including its structure, distribution, utility, and estimated timelines for development and integration. This document will be available at https://sps.splinterlands.com and will continue to be updated and improved over time as progress is made and more information becomes available.
Decentralized Autonomous Organization (DAO)
The Splintershards token will be set up as a Decentralized Autonomous Organization or DAO via a series of smart contracts which will be published on the Binance Smart Chain (BSC) platform.
The Ethereum blockchain was the first choice for the governance token contracts; however, the gas fees required to publish transactions to the Ethereum blockchain have become prohibitively expensive and would greatly limit what can be done with the governance token contracts and the number of people able to participate.
As a result, the Binance Smart Chain was chosen due to many factors including its current popularity, low transaction fees, fast transaction confirmation times, and the ability to easily port smart contracts between BSC and Ethereum which will allow the Splintershards contracts to be migrated to Ethereum in the future when/if it makes sense to do so.
Once the smart contracts have been developed and released, users will be able to stake their SPS tokens in the smart contract at which point they can be used for governance voting in the DAO. The Splintershards token will be 100% controlled and governed by the community of token holders, and all aspects of how the token and associated smart contracts function will be able to be changed through a vote of staked SPS holders.
All interactions between the Splinterlands game (which runs on the Hive blockchain) and the SPS tokens (which will run on the BSC blockchain) will be handled via an oracle system.
The oracles will be users or other entities elected by the SPS token holders that will be responsible for running software that will relay relevant information about game transactions on the Hive blockchain to the SPS token smart contracts on BSC and vice versa and will receive SPS token rewards for doing so properly.
Please note that it will not be necessary for players to have a Binance Smart Chain wallet or interact with BSC in any way in order to earn SPS tokens via the Splinterlands game and participate in game-related governance voting. Tokens earned and held in the game will be "locked" in the SPS smart contracts on BSC until/if a player chooses to transfer them to a BSC wallet address which will be handled via the oracle system.
Token Distribution
SPS tokens will be issued / unlocked in a pre-determined schedule which lasts for approximately 65 months from the date that the token is first released.
The primary goal of the token is to reward Splinterlands players and asset holders, which is why 13.33% of the total token supply is going towards an airdrop which will be conducted over a 12 month period to holders of nearly all types of Splinterlands assets. For more information on the airdrop, please see the Airdrop section of this document.
Next, 10% of the total token supply will be added into a foundation which will be controlled exclusively by the DAO. 50,000,000 of the foundation tokens will be issued on day one and the remainder will be released in even increments over the remaining 64 months. This means that SPS token holders will be able to submit proposals and vote on how/if those funds should be used. For more information please see the Foundation / DAO Funds section of this document.
6.66% will be offered directly in a private sale to a select group of advisors and influencers who will help promote both the token and the Splinterlands product to their audiences and networks and generally help ensure that the project is successful. Tokens purchased as part of the private sale will be subject to a vesting period with 10% of the tokens vesting and becoming liquid every month for a total of 10 months. All proceeds from the sale will go towards the development, promotion, and ongoing maintenance of the SPS token and ecosystem.
9% of the total token supply will be reserved for the Splinterlands team. 50,000,000 of these tokens will be issued on day one and the remainder will be released in even increments over the remaining 64 months. Splinterlands will use this pool to help incentivize and retain our valuable team members and partner organizations.
1% of the token supply will be reserved for partners and advisors to the project who will work with the SPS token team and assist and/or provide advice on all areas of the project as well as help to market and promote the project. These tokens will be unlocked in 12 monthly increments starting one year from the launch of the SPS token.
Finally, the remaining 60% of the total token supply will go towards rewarding players, SPS holders, liquidity providers, and oracles. These tokens will be released on a fixed schedule over the 65 month period and go into separate pools for the various different areas to be rewarded. Please see the "Play to Earn & Reward Pools" section of this document for the full distribution schedule and breakdown of these rewards.
How and Where to Buy SPS token?
SPS token is now live on the Binance mainnet. The token address for SPS is 0x1633b7157e7638c4d6593436111bf125ee74703f. 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.
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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 Pancakeswap Decentralized Exchange, we use Metamask wallet
If you don’t have a Metamask wallet, read this article and follow the steps
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Transfer $BNB to your new Metamask wallet from your existing wallet
Next step
Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy, Swap SPS token
Contract: 0x1633b7157e7638c4d6593436111bf125ee74703f
Read more: What is Pancakeswap | Beginner’s Guide on How to Use Pancakeswap
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Find more information SPS:
☞ Website ☞ Explorer ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Documentation ☞ 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.
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