The SPON ecosystem is a next-generation decentralised ecosystem of platforms that facilitate digital contracts and agreements between parties of interest.
To create a seamless network of digital contract platforms owned and operated by individuals with seamless cross platform integration and communication.
The SPON token will be used as a layer of communication between the stakeholders of the ecosystem like the development team, community, end-users as well as 3rd party companies in the future.
The decentralised governance will be implemented by using SPON tokens. After deployment of SPON, its control would be handed over to the ecosystem once its established using a Multi-Sig wallet. Every $SPON token holder ( by staking some min tokens ) can pitch the idea, suggestion, new plan etc into the ecosystem. There will be a period of 7 days for example where there can be open discussion over community, devs, and all the stakeholders. During these 7 days there will be an open vote where the public can stake their tokens (with a minimum value) and then vote for that proposal or against it.
After 7 days, the results would be announced and changes will be made accordingly in the roadmap. After the vote, using Multi-Sig wallets (eg., 3 multi signers: Dev team, community and core team), the changes will be signed and stored into blockchain. However, we also plan to add veto power for emergencies to reject a decision that has been voted successfully but is harmful for the future of the ecosystem and this veto power can only be used by multi-sig holders.
The $SPON token will be vital in securing and validating transactions on the SPON ecosystem via Proof Of Stake (POS) as the main consensus algorithm used. Token holders are given the authority to verify and add transactions to the distributed ledger algorithmically based on proportions of tokens held. Token holders can take part in the protocol by pledging their tokens as part of the mining pool for a specified ownership duration.
$SPON token holders will be given access to the SPON ecosystem to build custom applications and platforms for public use or monetization, without the need for code. The use of the $SPON token for transactions made across platforms also means unrestricted access to all platforms hosted on the ecosystem for token holders.
Additionally, the $SPON token is the medium for cross platform integration via the use of APIs. This means that features (relevant to consensus) across platforms can be merged or shared with the platform owner’s consent, to foster a collaborative environment. This means that digital contracts across 2 or more platforms can be combined to create a complex agreement between parties.
$SPON token holders will be eligible for entry into the Sponsee Jury Pool as participant nodes. A 5 jury protocol will form the basis of the specialised consensus mechanism for validating and voting on the outcome of a dispute raised between 2 parties. A reward for disputes resolved successfully will be dispensed to each jury member in token allocation.
At the moment, we are having a pre-sale ongoing to provide individuals with an opportunity to own $SPON tokens before we list directly on the decentralised exchanges (Pancake Swap). The token price will be going for BUSD$0.18 per $SPON Token.