SolanaPrime Tokenomics: The Power of the PRIMES
Few would disagree that the birth of DeFi-powered IDO launchpads and incubators during 2020/2021 was a giant boost for the blockchain sector. However, don’t let their growing popularity lull you into a false sense of ‘all is good in the land of IDOs’. Lately, developers, investors and traders have reported experiencing certain drawbacks and limitations of this model, the majority of which we already covered in the first half of our previous blog post. It was these frustrated user reports that galvanized us to build SolanaPrime from the ground up properly, in order to ensure a sustainable performance in the (possibly volatile) crypto market environment of 2022/2023.
Besides the technical advantages of Solana as a next-gen blockchain network and, by extension, SolanaPrime as a next-gen launchpad, we are also blessed with a strong and robust community we can rely on. That’s why our priority is to incentivize all Solana community members — developers, token holders, validators and supporters — with not just a much more efficient launchpad model, but also with carefully engineered reward mechanisms that we built into SolanaPrime’s architecture from the very start. Allow us to introduce you to $PRIME and $SPIX.
Your keys to a shiny, new, thrilling Solanaverse.
Far from just being a regular utility token, $PRIME gives you access to SolanaPrime’s entire ecosystem. It comes with built-in incentives for continuous, long-term value gain, which include a deflationary burning mechanism.
From the moment you stake your $PRIME:
- You become part of the SolanaPrime project and you are able to gain access to IDOs on the launchpad (follow us on social media for upcoming details about our smart-tier mechanism) by participating in one of our 5 Tiers.
- You become part of the community and are able to participate in SolanaPrime’s governance, enabling you to vote on various types of projects and proposals.
- You start accumulating rewards in the form of $SPIX tokens.
There are five tiers for participation in the SolanaPrime launchpad. They serve the function of allocating appropriate benefits for appropriate PRIME token staking amounts:
If $PRIME is the key that gives you privileged access to the Solanaverse and its multitude of future possibilities, $SPIX gives you real-time exposure to the cumulative value of all SolanaPrime projects together.
The X stands for exposure. To what? To all SolanaPrime-launched projects in one basket.
From the moment you own $SPIX, you practically own a stake in the token asset basket of all SolanaPrime incubated/launched projects. It doesn’t matter if you decide to participate in IDOs or not, you will still be invested in the future of the Solanaverse as long as you’re holding $SPIX tokens.
- Every project that incubates and launches on SolanaPrime will contribute a fee equal to a percentage of the tokens available for the IDO to the SolanaPrime SPIX Pool.
- $SPIX is an index token which represents fractional virtual ownership of this diversified portfolio consisting of a percentage of all successfully launched tokens on the SolanaPrime launchpad.
- The more projects get launched, the more encompassing and diversified the token pool backing the $SPIX token becomes.
- $SPIX tokens are distributed periodically on a pro-rata basis to all $PRIME stakers on SolanaPrime, which means that the more and the longer you stake, the more you’ll be rewarded.
- $SPIX provides our users with exposure to all projects listed in the past, and to the ones that will be listed in the future, with the caveat that the reward rate per second will gradually decline over time and the APY received for staking $PRIME will decrease accordingly.
SolanaPrime is the new gateway into the web3 revolution. A revolution driven by Solana’s superior fundamentals and fueled by some of the most solid VC capital backing in the crypto ecosystem to date. SolanaPrime offers you the chance to take an active part in crypto history before it happens. Will you take it? If you’ve made it this far, you probably know the answer already.
This is only the beginning. If you truly wish to be at the forefront of the Solanaverse, follow us: