Benefits of Holding Spores Network SPO Token
2 min readDec 23, 2021
Hello, Spores Warriors.
Its been a busy month for Spores Network. With all the amazing developments, partnerships, NFT sales and staking campaigns.
Today, I’ll be informing you guys facts about Spores’ SPO Tokens and how they can be benefitial especially to long term holders.
But First….
What are Spo Tokens?
The SPO token is an NFT-creator-centric and DeFi-community-driven token, making it an excellent tool to incentivize all contributors and players across the whole Spores ecosystem. The $SPO token plays an integral part in achieving this goal as the native utility token.
Facts/Benefits of Spores Network SPO Token
- $SPO is a dynamic token with a buyback mechanism that limits the circulation quantity in order to provide rising value to token holders.
- 25 percent of the proceeds from NFT sales will be used to buy SPO tokens from exchanges and will be frozen for two years, according to the buyback mechanism.
- An NFT can be purchased on Spores Marketplace using the $SPO token, which serves as a central utility.
- Spores Token is available on CoinGecko, Uniswap — Trading Pair: SPO/ETH, CoinMarketCap, and Gate.io.
- As a result of Spores Network integrating with Binance Smart Chain, $SPO token holders can move tokens from ETH to BSC and vice versa, enhancing their utility.
- $SPO Token has a staking program in addition to the buyback that allows users to stake their tokens on BSC Staking pools and earn attractive annual percentage yields (APY).
- SPO token will be used for community governance over the network, rewarding contributors on the platform, and other utility purposes including platform fees discount.
- Used for community incentives (NFT minting, trading, LP mining, and other DeFi rewards)
- Spores token holders use SPO tokens to vote for platform governance, upgrade and development proposals, to utilize DeFi transactions
In Conclusion,
The native tokens of a project plays an important role in crypto-world. Both projects and consumers benefit from these tokens, which can be used for a variety of services on the network.