Token Migration: $SPI & $GSPI to $SHOP
In order to grow, we have to also be ready to adapt; here at Shopping.io, we strive to have a token that will represent the success of the platform as well as being a vital piece of our ecosystem.
Introducing Shopping.io's new native token, $SHOP (ERC-20), which is built on the Ethereum blockchain and serves as a utility token within Shopping.io's new ecosystem. $SHOP provides numerous benefits which greatly encourage users to utilise the Shopping.io ecosystem.
Following a community poll with an overwhelming 97% approval rate, Shopping.io has decided to merge its current native tokens ($SPI and $GSPI) into $SHOP. This will allow for new and improved smart contracts, more favourable rewards systems and tokenomics that align with Shopping.io's new products.
This article addresses the actions that $SPI, $GSPI and Shopverse NFT holders may need to take prior to $SHOP's launch on September 9th 2022 in order to receive the correct token allocation.
Company actions preceding distribution
Prior to the snapshot and distribution of $SHOP, all liquidity will be pulled from $G/SPI's supported exchanges with the eventual delisting of $G/SPI.
Token distribution
$SHOP's distribution will occur in the form of an airdrop directly to holders' Web3 wallets in the following percentages. (Percentage of the initial token supply of $SHOP)
- 90% Holders of $SPI and $GSPI
- 7% Shopverse NFT holders within the form of an NFT staking platform
- 3% Liquidity CEX/DEX
- The initial supply of $SHOP will be 100 million (Circulating supply will be dictated by burn and mint).
