Wen launch?
Launch was on early September on the BSC chain.
Where can I buy or sell?
The protocol cannot be bought on a DEX for two reasons: first because adding liquidity to a DEX would decrease SCEPTER's value a lot because there would be many more SCEPTER tokens in circulation (remember: SCEPTER's value = number of tokens / full treasury value); second because SCEPTER wouldn't increase much more than its floor price anyway, so users wouldn't benefit from trading it on DEXs. We realize this is an unconventional choice, but we have weighted for pros and cons and this is the best solution we have.
How does SpaceFUND compare to other projects? Is it a fork?
SpaceFUND is a unique model and not a fork. It is based on three tokens. SCEPTER is unique in that it is 100% backed by other tokens. It is different from Ohm forks (each token is only backed by 1$) or stablecoins (each stablecoin is partially backed and their value doesn’t increase over time). BATON could be considered similar to a node token: users renounce their initial investment (by burning SCEPTER) and then earn airdrops.
There are two important differences though: first, BATON holders receive stablecoins as airdrops; second, holders can redeem their BATON tokens. The WAND token is unique. We are not aware of any other protocol using a “shadow token” as collateral to boost the treasury and benefit the holders of the protocol.
How do you relate to Ohm and Titano forks?
We are quite the opposite. Most Ohm and Titano forks are unsustainable by design: when your APY is 10.000%, you need 100x more users every year to be sustainable. This is just impossible. Yet, their APY is an important part of their marketing and position.
Our APR or APY is 0% and the holders benefit from the appreciation of the token instead of its multiplication (which would result in a decrease in token's price). This is slower but sustainable. And because the price of SCEPTER will only increase, all the holders will win.
How do you relate to Nodes?
We like the idea of nodes. People renouncing a certain sum to generate a continuous stream of passive income is a good idea. However many nodes are unsustainable, designed to generate some revenues for a few weeks to months at best.
This is because most nodes are still based on a Ponzi model where early buyers make profit thanks to later buyers who will suffer a loss. BATON can be considered a non-ponzi node.
SCEPTER holders burn their token to earn BATON, and BATON holders receive the rewards from the investments of the BATON treasury. In this model, the treasury grows steadily, benefitting earlier and later BATON holders alike.
You talk about safety and sustainability a lot. Why not just buy and stake stablecoins?
We indeed walk on a fine line between safety and high returns. Some of our investments will be stablecoins liquidity pairs, so we are sure that SCEPTER price is 100% backed. Some will be stablecoins-native network tokens liquidity pairs, delivering higher APRs with minimal risks.
But we will also have higher risk, higher rewards investments from the Risk treasury. This treasury will benefit SCEPTER and BATON holders without risking SCEPTER’s value or BATON’s core treasury.
Through our differentiated treasury, with different investment strategies, we can reconcile safety and higher rewards.
What's the APY?
There is no APY. We have multiple mechanisms to ensure that SCEPTER price will appreciate in value (so a person holding 1 SCEPTER worth 10$ on day 1 will have 1 SCEPTER worth 20-30$ on day 30 - this is just an example) and BATON holders will receive USDC airdrops weekly.
Without fixed APY or fixed rewards, how do we calculate SCEPTER price appreciation and airdrops for BATON holders?
The mechanisms to support price increase and significant airdrops include dynamic pricing and differenciated treasury investment strategies. The mechanisms are:
* SCEPTER is bought above backing price and sold below backing price. So every time one person buys or sells It, everyone’s SCEPTER appreciates in value. The spread between the buy/sell price and the backing is dynamic and reflects market conditions. The goal is to be always attractive and support token appreciation at the same time.
* We will implement strong community governance functions, including to manage the treasury. So you will have a say in how we invest the treasuries to support our goals.
* We will implement other utilities to support SCEPTER price appreciation (which indirectly supports BATON airdrops). The utilities will be discussed and voted upon by the community before implementing them.
* We will use a differenciated invsetment strategy with our treasuries, with different levels of risk to reconcile safety and higher rewards
ELI5 why is SCEPTER price going to increase?
First, it won't go down because it's 100% backed by safe assets (lots of stablecoins). Then SCEPTER price increases through multiple mechanisms:
* People buying SCEPTER (slightly above backing price) * People selling SCEPTER (slightly below backing price)
* People burning SCEPTER (a part of its backing will stay in the SCEPTER treasury)
* Investments from the SCEPTER treasury (the rewards are mostly reinvested in SCEPTER)
* Investments made using WAND as collateral (it'll boost the SCEPTER treasury)
* Investments from the Risk treasury (part of the rewards will flow in the SCEPTER treasury)
ELI5 how BATON airdrops are generated?
BATON's treasury is invested in low to medium risk opportunities. When market is down, low risk investments will provide rewards that will be airdropped to holders. When market is up, low risk and medium risk investments will provide rewards that will be airdropped to holders.
Why a Risk treasury?
Because we want to offer safety and higher rewards to our investors. The rewards from our Risk treasury will flow in the SCEPTER treasury (boosting SCEPTER price) and the BATON treasury (boosting airdrops to BATON holders).
Why can't SCEPTER be traded on DEXs?
This is controversial, we expect it to be a topic of debate and vote at some point. But initially at least, SCEPTER will only be tradeable through the protocol, not on DEXs.
The first reason for this is simple: SCEPTER is 100% backed by the treasury and treasury backing = (treasury value / number of SCEPTER) This implies that if we use some of our treasury for DEXs, treasury value goes down.
If we put some SCEPTER on DEXs to be part of liquidity pairs, the number of SCEPTER increases. That means a massive decrease in treasury backing, and that would hurt holders by decreasing SCEPTER price significantly.
The second reason is that because SCEPTER price will always be backed, its market price would never stray far away from backing price anyway, so the benefit of trading it would be minimal
Last modified 10mo ago