$SPT

To truly understand the value of Serpent. You need to look at $SPT as more than just a currency. It is the fuel for the entire discovery engine and at the center of Serpent. By rooting every action on the platform, from applying to vouching to $SPT we ensure that as the platform grows, the tokens scarcity and deflation grows with it.

The Center of the Platform

Every action on serpent.live is powered by $SPT. When a project is listed on Surge, a curator has to pay 50,000 $SPT (TBC), a sign of capital commitment. When a curator vouches they are spending $SPT to provide a verification on chain action. This creates a constant organic demand for the token. Because $SPT is the only way to gain visibility on the terminal it becomes a non-negotiable asset for anyone who wants to participate.

Buybacks and Burns

One advantage of holding $SPT is our buyback and burn model. While $SPT is the native currency to the platform, our premium service for projects (and in the future curators) can be paid in USDC or SOL. When this happens, we don’t remove this value from the ecosystem, rather use a significant portion of that revenue to perform open market buybacks of $SPT.

Currently the platform is configured to burn 10% of every transaction that occurs. We have built our platform to be adaptive. The burn rate is a floating metric that can we adjust to respond to the wider market. If we see a massive surge in platform activity we or want to reward our long-term holders, we have the flexibility to increase this burn % all the way up to 100% if we want to, rewarding those long term holders and supporters of $SPT

A Reason to Hold

By tying the value of $SPT directly to the platforms revenue and usage we ensure that every successful project onboarding and every curator vouch contributes to the long-term health of the token.