Last updated 9 months ago
Introducing $SKULL, the native token of the Seikeleton ecosystem!
$SKULL will be earned by staking your Seikeleton, the $SKULL per NFT earned will halve once 25% of the staking supply is in circulation.
These halving events will occur subsequently every further 10% of the staking supply that is put into circulation until $SKULL is extremely scarce.
This reward schedule is intended to mimic proof of work mining.
The reward halvings will be manually adjustable by the team should an adjustment need to be made, though this is not anticipated.
Greater the circulating supply = Lower the reward rate
So the early stakers have an advantage!
Special advantage for Golden traits will also earn 2x staking rewards.
The total supply of $SKULL = 21,000,000 and is allocated as follows:
The staking platform will be launched with non-custodial staking, each Seikeleton staked will earn 10 $SKULL per day.
You will start earning tokens at this stage to join raffles.
This is the utility phase where uses for the token within the Seikeleton ecosystem will be developed.
At this stage, you can sell your $SKULL , join raffles, or save up to buy keys (to be announced.)
Further utilities such as raffles and purchase of merchandise, physical rewards will be introduced at this point, utility will always be a work in progress and new utilities will be developed throughout the lifetime of the project.
At this stage, there will be 25% $SKULL in circulation and each Seikeleton staked will earn 5 $SKULL per day.
This is an important step for $SKULL, as here we’ll bring real tangible value to the token, giving you true passive income for the long term. (A pool will be prepared with regular revenues from royalties.)
An initial contribution of liquidity will be made by the DAO to set the starting value of 1 $SKULL (the community will vote on the start value), then the farm can be opened for the community to provide liquidity and trade $SKULL.
When liquidity tokens are staked, you will need to commit to a fixed time period to stake that liquidity. Possible options are 15, 30, 60 and 90 day staking periods.
Liquidity is what gives a token value, and here you have the opportunity to build a nearly 100% community owned pool of liquidity that will drive the value of $SKULL into orbit.
But it must be stressed that this is very much dependent on community participation and sensible long term thinking by the community. (Do this right and you'll all have long term passive income.)
Note : We plan to contribute 51% monthly income to Liquidity. (This % hole distribution rises according to the energy, excitement and voice of the community, but we can promise that it will never down from %51.) The amount added to the liquidity pool will be followed transparently.
-So why is it called $SKULL?
$SKULL is our utility.
