Distribution

At the genesis of the Cross Ledger Pre-Launch Network, 2 billion Spendcoins (SPND) will be created as specified in the white paper in the form of ERC-20 tokens on the Ethereum Blockchain.

Spend Foundation’s “Plan-of-Distribution” (PoD) requires the distribution to follow these standards of distribution:

25% (500,000,000 SPND) – Rewards Distribution
The goal of the Distribution Program is to make SPND easily accessible to millions of individuals and communities across the globe. By implementing a simple mechanism for distribution featuring a low barrier to entry, we hope to distribute free SPND to millions of individuals worldwide. We believe the Distribution Program will help us expand the reach of the network and, subsequently, help achieve our goal of building a more inclusive digital economy. Giving away SPND is an invitation for communities to learn more about digital financial assets and encourage users to learn about the blockchain through our Blockchain University. The availability and active use of SPND on the network will increase the overall network’s utility. The Distribution Program will be in the form of purchase rewards back and wallet tasks.  Any initiative or strategy we implement to support this distribution will serve the implicit purpose of this program: to get a small amount of SPND in the hands of as many people as possible with the intention of promoting financial knowledge and access to financial services around the world.

12.5% (250,000,000 SPND) – Partnerships 
The purpose of the Partnership Program is to encourage adoption and growth of the Spend ecosystem through the institutional distribution of SPND while promoting the usage through rewards for Spend Card Holders. As institutional and consumer reward adoption is a primary driver for scaling usage, the Partnership Program is structured to incentivize key adopters and align their goals with the Spend Foundation. To fund the rewards, 250M SPND will be set aside for grants to card rewards, businesses, governments, institutions, or nonprofit organizations that contribute to the growth of the Spend ecosystem.

12.5% (250,000,000 SPND) – Spend Enterprise Association (SEA)
Digital Currency companies that join the Spend Enterprise Association (SEA) will be listed on the Spend Platform which will make their currency/asset spendable via the Spend App & Spend Card. Holders of those partnered coins will receive SPND to their Spend Wallet to further promote the companies membership of the SEA for its users.

12.5% (250,000,000 SPND) – Spend 
Distributed to Spend for Operations with a 1% monthly budget.

12.5% (250,000,000 SPND) – Founders & Advisors
Distributed to Spend Founders & Advisors with a 3 year release cycle.

25% (500,000,000 SPND) – Spend Foundation
Spend Foundation will be granted 500 Million SPND through a 10 year budget allowance and 10 year growth distribution. These Spendcoins will be used towards grants for Blockchain University, Cross Ledger Development, Spend Foundation operation, Development Research, Partnerships with Universities and institutions, and as fit by the board. The Advisory board will be responsible for distribution allowance by majority vote within the Foundation. The Foundation will be responsible for handling all the key elements of Spendcoin, Cross Ledger, Blockchain University, and other future decentralized projects.

Digital Currency companies that join the Spend Enterprise Association (SEA) will be listed on the Spend Platform which will make their currency/asset spendable via the Spend App & Spend Card. Holders of those partnered coins will receive SPND to their Spend Wallet to further promote the companies membership of the SEA for its users.

The distribution of Spendcoins through the Partnership Program has been designed to encourage mass adoption and growth of Cross Ledger through institutional and strategic partners. As we want to grow a decentralized educational platform we want to work with universities, schools, academies, certification courses, exchanges, and payment networks to further grow our open-source mission to create a smarter economy. We view this as an opportunity to bring Cross Ledger, Blockchain University, and Spend to more users and platforms worldwide.

The Distribution Program formally known as the Cross Ledger User Program was designed to make SPND easily available to billions of individuals and communities worldwide. By offering a user initiative based distribution we hope to reach millions and potentially billions of people around the globe by rewarding them for their own wallet and card purchases.

Here at Spend Foundation we believe the Cross Ledger User Program will help us expand our network and community by allowing us to build a larger digital economy. Distributing free Spendcoins is an open-door to communities and individual to learn more about the financial services tools and decentralized education platform being powered by Cross Ledger. The more usage of SPND on the network will increase the networks global reach.

Therefore for these reasons, 25% of distribution allocation of SPNDs are dedicated to this distribution

The Bounty Program will be designed as an extra layer of awareness advocation to incentivize users worldwide who promote the decentralization of education and finance through blockchains. A portion of the bounty program will also be allocated for bug bounties.

The remainder 500 Million SPND will be held in a Transparent Ethereum Address and will be made available on mainnet launch through the treasury system for distribution to Blockchain University users through an 20 year campaign period to promote the building of Blockchain University through grants, scholarships, content, support and more and governed by consensus of Cross Ledger operators.

Our expected mainnet Cross Ledger launch is September 2019. We will have a well detailed outline and guide on how to perform the swap.

After 20 years inflation will cap at 1% per year. with a max supply of 10 billion expected to be on year 2306.

Inflation will be distributed at 10% a a year with a 20 year reduction proportionately until inflation becomes 1%. 75% of the inflation goes towards Proof-of-Support users, 15% goes to stakers validating content, and 10% goes to block producers.

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