One major and essential part of any blockchain project, whether a decentralized finance (DeFi) or payment solutions platform, is the token. For the Scarce DeFi platform, having a digital asset or token is fundamental to the growth, success, and sustainability of its project. It also serves as a medium to pull resources from potential investors and attract the interest of key and notable players in the industry. The token of any blockchain project is important and plays a vital role in the users’ participation and interaction within the network. Certain platforms require a specific amount of tokens for users to perform several activities, which may include voting exercises, proposal submission, policies, and regulations.
The tokenomics of any project in this industry refers to the information on the type of tokens developed by the network, the total number in circulation, and the distribution of the token for specific purposes in the project. For the Scarcity DeFi project, the name of its token is the SCARCE Token, denoted as SCR, which is an ERC-20 compatible token. While this is the main token system for this project, Scarcity DeFi also has a token specifically for its governance system. Its members can perform several activities on the platform by utilizing the governance token, which is also supported as an ERC-20 token and denoted as ySCR, within the SCARCE economy.
The circulation and allocation of tokens concern mainly the primary token of this project, the SCARCE Token. A total amount of 9,999 SCR tokens is available for supply and utilization for specific purposes. However, an exact percentage, about 4%, of this total supply is set aside for burning. The management team of this emerging project focuses the bulk of its tokens in circulation for three (3) purposes, the community rewards and activities, investors, and team members.
Investors
Similar to any blockchain project, Scarcity DeFi will allocate about 40%, about 3,999 SCR, of its total tokens in supply to early investors and participants in the network. This allocation often takes place during the presale period of any crypto project. The investors purchase the tokens at a cheaper rate, the project owners organize this activity as a means to attract the investors, and interested members of the public to join, participate, and invest in their project.
Community Rewards and Activities
As a blockchain project, which recognizes the importance and influence of the community members on its success, Scarcity allocates the highest percentage to rewarding members for contributing, participating, and interacting within the project. This incentive serves as a motivation to members for their activeness and engagements on the network. This allocation also extends to other activities on the platform, which include yield farming, staking, locking tokens, and liquidity. 50% of the total supply, which is about 4,999 SCR tokens, is allocated for this purpose.
Team Members
Scarcity DeFi allocates 10%, about 1,000 SCR, of its entire amount of tokens in circulation to support its founding team members. However, these tokens will remain locked and inaccessible until 2021. The development team locked these tokens in a smart contract, as well as 1,000 SCR assets for community members, which will be released on the first day of 2021.
USEFUL LINKS
Website: https://scarcitydefi.org/
Telegram: https://t.me/SCARCEchat
Twitter: https://twitter.com/DeFiScarcity?s=09
Whitepaper: https://scarcitydefi.org/SCARCE-wp-v0.1.pdf
Github: https://github.com/scarcitydefi/ScarcityDeFi
Medium: https://medium.com/@scarcity
YouTube: https://www.youtube.com/channel/UC4PWIJUEP56PntLdKnAIhzg?view_as=subscriber
AUTHOR'S DETAILS
Bitcointalk Username: Chidoskim
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2652432
Eth Address: 0x4F70c5e328B15825Fa456a4F32fEeF315ba88FDf