SparkPoint Ecosystem is a decentralized payment gateway with integrated crypto exchanges, blockchain based e-learning, gaming, and online store. User-members of the ecosystem will be able to enjoy the features by accessing our web-based and mobile application which will be available soon.
SparkPoint Ecosystem created a token to power all the functions of the application which is the SparkPoint Token or SPRK. Many noticed that we don’t have an Initial Coin Offering (ICO) stage, and this curiosity will be discussed in this article.
First off, the total supply of SPRK is 20, 000, 000, 000 which have been allocated strategically — to maintain stability of the coin once it has been listed to exchanges, continuous marketing and community development programs, seal more partnership and have a progressive project development.
Private Sale (20%)
We are allocating 4, 000, 000, 000 SPRK available for sale which interested members can purchase once we started selling tokens and can be used as a currency to pay for transaction fees in the payment gateway, enroll in our e-learning courses and programs, pay for products and services in the marketplace and purchase games and in-app purchases in our gaming store.
We decided to put a minimal amount for sale to avoid any sudden fall in the price of SPRK in the market.
Marketing & Airdrop (7%)
Token allocation to marketing will be used to pay for marketers and managers in different jurisdictions, promotion during programs reaching the target market, and airdrop.
Community Development Program (10%)
A total of 2, 000, 000, 000 SPRK will be allocated to encourage community participation especially in our e-learning platform, gaming platform and marketplace platform. This budget will be given and distributed to honor valuable contributions by members including but not limited to courses and programs that will be included in our e-learning platform.
This allocation is expected to be distributed in a slow pace since our reward tokens will be taken out from this allocation.
SparkPoint Ecosystem Development (38%)
This allocation will also serve as a company reserve and is dedicated for continuous development of the project with a total number of 7, 600, 000, 000 SPRK and has no plan of distribution yet. This is also dedicated for internal development including additional manpower when needed.
At any point that we decided to release a part of this allocation, we will be releasing a proper announcement through our official channels.
Founder’s Wallet (10%)
A tenth of the total supply of tokens is allocated to Founder’s wallet and is in a hold-out status for a year from the creation of the token.
Team’s Wallet — Current (5%)
A billion SPRK tokens has already been transferred to the current team’s wallet and will not be available for as long as six months after the successful transfer of the token to the team’s wallet. This will be available for release after the said hold-out period.
Team’s Wallet — Future (5%)
This allocation is dedicated to our team expansion and additional token for current team members with outstanding performance and contribution to the project. This 1, 000, 000, 000 SPRK will be available for release after a six-month hold-out period from the date of smart contract creation which means once a new team member has been hired after the said period, funds is already available.
Advisors (5%)
For the advisors of the project, we are allocating 5% of the total supply corresponding to a total supply of 1, 000, 000, 000. Advisors’ wallet will also be put on a certain holding period of three months, however, unlike the team’s and founder’s wallets, the three month holding period will start once the token allocation for an advisor has been transferred.
The token distribution has been made like this in line with our vision and mission and specially to create a sustainable Blockchain project. We are always committed to reinventing digital payment through Blockchain technology and building a better future by promoting the adoption of cryptocurrency by building this four-platform-project — the SparkPoint Ecosystem.
With the problems of existing problems of digital and non-digital payment gateway and the alarming number of unbanked population, together, we will work to realize this project and work with other businesses and organization to continuously create demand for the SPRK; not just to increase the value but to have mass adoption and to greatly fulfill its purpose.
For more information you can visit our website, Telegram, Facebook or Twitter or you may send us an e-mail at support@sparkpoint.io.