All your questions answered about the IDO/SHO, the tokenomics and $XSPECTAR

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With the IDO for the $XSPECTAR token around the corner it seems about time we thoroughly inform you on our tokenomics, token metrics and our IDO itself. In this article we will answer the most FAQ’s to make sure you are well informed to make wise decisions.

The term tokenomics is a combination of the words “token” and “economics.” It refers to all of the features that influence a crypto token’s economics, making it enticing to investors. This includes a token’s purpose, distribution plan, and emissions schedule. Tokenomics are an essential component of the cryptocurrency ecosystem, allowing projects to combat fraudsters, create trust, and establish a robust, long-term ecosystem. Strong tokenomics support the value of a token over the long term and incentivize early investors and adopters, while controlling a token’s inflation rate and promoting sustainable growth.

Let’s dive straight into the Q&A!

Q: What is an IDO?

A: An IDO, also known as Initial DEX Offering, is a method of launching tokens on the market and distributing them in a cost-effective and simple way. It’s a token sale done on a Decentralized Exchange (DEX). The IDO model addresses some of the problems of the conventional ICO crypto fundraising model. IDOs are a fairer way to do a token sale and give direct and equal access to all investors. By giving potential investors a decentralized way of buying tokens the aim is to create a first-come-first-serve process where people get the possibility to buy tokens in a chronological order.

Q: What is $XSPECTAR and why should someone buy it?

A$XSPECTAR is the native token of the xSPECTAR ecosystem. $XSPECTAR is a utility-driven token that will be used within the entire ecosystem of xSPECTAR. The token will unlock numerous use cases and will have functions in different aspects. Some examples across our ecosystem:

  • nft.xSPECTAR: The token is crucial for buying a NFT. The NFT will grant you access to the society and unlock its privileges (about the NFT in a later article more). A wallet is required to hold, at minimum, 8,888 tokens to enable the purchase of our membership-NFT.
  • merch.xSPECTAR: To buy merch in our merchandise store in the future. The merch will be buyable with $XSPECTAR as well as with FIAT.
  • art.xSPECTAR: To purchase digital art.
  • realestate.xSPECTAR: To purchase property in order to develop your real estate portfolio.
  • casino.xSPECTAR: To play in our online gaming area (recreational)
  • game.xSPECTAR: To make in-game purchases and to earn in our play-2-earn game economy
  • And more…

Q: When can I buy $XSPECTAR?

A: Our IDO will start on April 25th. In every following batch we will put 8.888.888 tokens for sale on the XRP Ledger’s Decentralized Exchange (DEX). The timing of these following batches will be chosen according to our marketing strategy. In total, 55% of the supply (48.888.888,40 $XSPECTAR) will be put up for sale on the XRPL DEX.

Q: Where can I buy these tokens?

A: The tokens will be sold on the XRPL DEX. In other words you will be able to buy our tokens via any interface that supports the XRPL DEX, such as the XUMM mobile app, Sologenic and onXRP platforms.

So, why the XRP Ledger?

  • Low transaction costs (< $0.01)
  • Fast transaction speed (3–5 sec)
  • Big scalability (1,500+ transactions per sec)
  • Low energy usage and environmental impact
  • Unique features

The XRP Ledger was the first and is one of only a few blockchains able to run a decentralized, on-chain, limit order book exchange in near real-time. It can sustain a maximum throughput of up to 1,500 transactions per second! And XRPL does all this in a very sustainable way. In fact it is the world’s first major, global, carbon neutral blockchain. In a later stage we will explore other blockchains or cross-chain possibilities such as Flare Network and Avalanche.

Q: What will be the price of $XSPECTAR?

A: The first batch of 8.888.888 $XSPECTAR will be sold at 0.08 $XRP. We want to reward early adopters that is why we guarantee that the price of the following batches will never go below 0.08 $XRP. Prices of upcoming batches will be announced at a later stadium to optimize pricing strategy. We have chosen this strategy in accordance with our marketing campaign. We also aim to stabilize our market liquidity with this decision. This will optimize the value for early birds and gives a guarantee for a healthy market.

Q: What will be the token distribution/tokenomics?

A55% of the tokens will be reserved for the IDO & SHO (explained below) and 5% for giveaways and airdrops. 10% of the tokens will be used for strategic partnerships, 10% will be used for operations and development, 10% will be used for marketing, and finally, 10% will be reserved for the founders and the team.

The token distibution
The token distribution

Q: What about the SHO?

AA strong holder offering (SHO) is a fundraising mechanism where eligible investors are chosen based on their on-chain activities and other proprietary data sets. We want to organize a transparent and accessible SHO for our holders. We are a pre-funded project that rewards long-term holders and early investors. With this strategy we create value for $XSPECTAR token holders as well as xSPECTAR itself. This is the main reason why we have chosen to do a SHO. The minimum order quantity will be 5000 XRP. The 3 possible vesting periods are:

1. Locked until minting with the XLS-20 standard on the XRP Ledger is possible

2. Locked for 12 months

3. Locked for 24 months (linear release)

Further details about the SHO will be announced on the 16th of May. Stay tuned!

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