Llamaverse $SPIT Tokenomics
What is $SPIT and How Does It Work?
$SPIT is the currency that is generated when you stake a Llamaverse. You will be able to use this for all kinds of different utility from claiming whitelist opportunities to being able to purchase items that can be utilized in games to generating $SPIT buddies which will be explained further down the line.
When you stake your Llama you will get x amount of $SPIT depending on the type of Llama you have and what other NFTs you may have staked (such as our powerup items like the Llamaboosts).
You must own at least 1 Llamaverse to be able to earn any type of $SPIT. This means you can’t just own a boost and earn $SPIT.
Why Staking vs Passive Earning?
The reason why we decided to do staking is because we have the whole token, dashboard and marketplace using Polygon. You will only have to pay one time to stake each NFT — and we will cover all the transaction fees (ones that we control) since they are so cheap when it comes to utilizing our ecosystem.
We thought since we will have “daily” opportunities it’d be quite annoying to constantly have to pay a transaction fee to “claim” $SPIT vs you being able to stake it and you can earn $SPIT and process transactions without having to pay ETH.
How Much $SPIT Does Each NFT Generate?
Here is the question of the day — we spent a lot of time making sure we balance the ratios based on prices of each NFT and to ensure we have longevity when it comes to generating $SPIT. We spent time calculating different factors to ensure the system is balanced enough but also to the point where we don’t penalize whales (which is why also we are only allowing 1x Llamaverse per whitelist spot).
- One Static Llama without a Boost will generate 10 $SPIT/Day.
- One Animated Llama without a Boost will generate 30 $SPIT/Day.
- The Gold LlamaBoosts will give you an additional 12 $SPIT/Day. (You can buy multiple and use them but you must have 1 Boost for Each llamaverse, meaning you can’t have 2 boosts and 1 Llamaverse; you won’t be able to use both those boosts. It’s a 1:1 ratio)
- The Silver LlamaBoosts will give you an additional 4 $SPIT/Day. (You can buy multiple and use them but you must have 1 Boost for Each llamaverse, meaning you can’t have 2 boosts and 1 Llamaverse; you won’t be able to use both those boosts. It’s a 1:1 ratio)
- A Pixlet Studio canvas will give you an additional 1 $SPIT/Day (Not Stackable, 1 per account max)
- A Llamadraws NFT will give you an additional 1 $SPIT/Day (Not Stackable, 1 per account max)
What else does the LlamaBoost do?
This is another great question. People were concerned that the Boosts would dump after people claim their Llamaverse NFT. I would highly suggest not selling your only boost. The boost will play a HUGE part of our ecosystem now and in the future. Here are some of the confirmed benefits.
- One free mint (if you are on the Snapshot 24 hours or so before launch) for the Llamaverse NFT.
- Additional $SPIT Generation
- 100% Chance to Generate $SPIT Buddies Successfully (without a boost you can FAIL generating a $SPIT buddy once you put your $SPIT in the incubator — the chance without a boost is 50% to successfully generate a $SPIT Buddy). The reason why we did this is to IMPROVE the scarcity of SPIT Buddies (meaning more value if you generate one) and add utility to the boosts. Spit Buddies is a MASSIVE giant and we are HYPED to launch this — you will enjoy it, trust me.
- “Founders Pass” — We will treat this as a pass that will grant you potential free mints in the future if we ever need to expand our collection.
- Special L2 Items (game items) can be purchased if you hold a boost and a Llama.
- More coming soon.
We highly suggest NOT selling your Llamaboost after minting your Llamaverse. 95% of our utility will be stacked on the Llamaverse NFT but we will add additional perks for Boost holders.
The Llamaverse NFT will get ALL the utility and the boost is simply a powerup with the above benefits. You cannot own a Llamaboost without owning a Llamaverse and use the utiltiy. The Llamaverse is our CORE of utility it will allow you to generate $spit, access the discord, use the marketplace, be able to generate $SPIT buddies and much more.
Brief Summary of Tokenomics
We wanted to balance the tokenomics as best as possible but a lot of the balancing will occur DURING the marketplace stage. We will offer a lot of utility so we are constantly either burning or re-circulating $SPIT into our ecosystem depending what we need to do at the time.
We will give you a brief summary of our splits between the team, the circulating supply and the run-down.
- 100,000,000 $SPIT Supply
- 57,500,000 $SPIT in Circulation
- 30,000,000 $SPIT in Dev Wallet
- 5,000,000 $SPIT to Hellequinnn
- 5,000,000 $SPIT to NFTLlama
- 2,500,000 $SPIT to BrotherAli
The dev wallet is NOT to be touched unless we for some reason “run out” of $SPIT and future giveaways within the marketplace and to bring in new members on board.
We will NOT be supplying liquidity and do not support this. If someone starts it, we can’t control it. We will not advertise liquidity for the token as we have a LOT of internal value that will essentially help you gain advantage in the space. $SPIT buddies being one of them that will be further explained down the line (Be excited for this, trust me).
We will not go into costs of “whitelists” or future utility because this is “constantly” changing — we will have tiers to make sure the whitelists are balanced by quantity. Meaning something with “less quantity” will cost more $SPIT to redeem.
We will create an updated document as we approach launch — we just wanted to state the team splits, the dev wallet split and the circulating supply.
Wrap Up for Llamaverse
We are super excited for the Llamaverse ecosystem and we truly believe we are building something amazing. This article covers the brief of tokenomics, generation per Llama and also what future benefits of the Llamaboosts will be.
We are open to suggestions/changes to launch but we did consult with experts in this space that agreed with the system and the balances. We are super excited for the future of Llamaverse. Thank you for supporting the vision!
Twitter — https://twitter.com/llamaverse_
Discord — https://discord.gg/llamaverse