SPAD token is the utility token on SMARTLAUNCHPAD, it is used on all features the protocol offers hence the token has multiple use cases.
Unlike the lottery and tier mechanism, our fundraising solution is a little sophisticated and hence we will need a native token to fuel our ecosystem. Therefore, SPAD will be minted and used in the following cases:
- 1.Allocation: In contrast to the tier and lottery systems, we provide guaranteed allocations to investors. In order to make the entire process fair, the number of $SPAD tokens staked will calculate an individual’s allocation.
- 2.Rewards: SmartLaunchpad involves the community in making almost all of the decisions. In order to incentivize their great technical and diligence efforts, we will be distributing staking rewards in $SPAD tokens post successful launch.
- 3.Liquidity Mining: SmartLaunchpad will be providing sufficient liquidity on DEX after the Token sale. However, we will be launching our LP mining program to entertain sustainable trading volume while rewarding liquidity providers in $SPAD tokens.
- 4.Burning Events: We are exhibiting a long-term vision by burning $SPAD tokens. A certain part of fees collected via SmartLaunchpad will be used to buy back our native tokens and burn them under token price fall circumstances.