Enter $SCIFI

The DAO-governed, crypto-gem index.

SCIFI Finance
Dec 2, 2020 · 5 min read

TLDR

  • $SCIFI represents a curated basket of digital assets. $SCIFI is 100% collateralised, and has zero management fees.
  • $SCIFI is governed by a governance token called $SPICE. The SPICE DAO votes on strategy, use of treasury funds and the curators of $SCIFI.
  • $SPICE can be earned by holding $SCIFI and providing liquidity, or during the initial decentralised distribution.

The dawn of a new paradigm

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.

Introducing $SCIFI

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.

  • 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.

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.

  • … is installed by Mission Control for the first 6 months,
  • … can be newly voted by the SPICE DAO every 6 months,

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.

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 the founders 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 365 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.

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.

  1. Distillation of discussion to a dedicated forum post
  2. Discussion and iteration of said post
  3. Formalisation of specifications to form a proposal
  4. DAO vote via Snapshot

The Big Bang

The inception of $SPICE will take place with a decentralised public sale soon.

SPICE DAO Official

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