How SpyritCoin Works

in #bitcoin • 2 years ago

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SpyritCoin is a deflationary utility token built on the Polygon network created with two economical protocols; Reoccurring Tax Back to Investors, and Liquidity Acquisition. Investors are given 30% of the total tax revenue collected from each transaction made in SpyritCoin. The excess money collected is invested or used to acquire liquidity.

SpyritCoin is a deflationary token built on the Polygon network that adheres to two economic protocols, Reoccurring Tax Back to Investors, and Liquidity Acquisition. The SpyritCoin project will be established on October 16th, 2017 with a detailed whitepaper.

SpyritCoin (SPY) is a deflationary utility token with a limited supply built on the Polygon network. With two unique protocols; Reoccurring Tax Back To Investors, and Liquidity Acquisition. Reoccurring Tax Back To Investors allows the Spyrit Foundation to use 20% of the trading fees generated by the RSP Decentralized Autonomous Exchanges (DEXs) to buy SpyritCoins from DEX’s Order Books, this in-turn slowly inflates the amount of available SPY back into our ecosystem. Liquidity Acquisition allows SPY to be acquired outside of exchanges onto our own platform directly from users without having to be directly acquired from exchanges.

SpyritCoin is a first of its kind Utility Token built on the Polygon network, with the aim to create an economy that empowers the merchant and consumer. Each purchase made with SpyritCoin unlocks tax points within an escrow account linked to the consumer’s blockchain wallet. Once these conditions are met, the tax points are released back to the consumer when they decide to sell their SpyritCoin tokens back into SpyritCorp. This process has been designed to act like incentive within our system, to encourage purchases within our ecosystem and thus increase consumer adoption of the SpyritCoin token. Tax back is based on the individual platform for which it is purchased through, just as any store would do for gift cards, or rewards cards; this incentivizes consumers to stay within one or many of our platforms thus growing our economy. We call this Liquidity Acquisition .

Introducing SpyritCoin (SPY), an ERC20 token positioned to drive the adoption of merchant payments on a global scale with a focus on revolutionizing cryptocurrencies by developing a suite of services and products to dominate everyday commerce in the cryptocurrency market. The Polygon network will perform two economic protocols;

SpyritCoin is a utility token created for the purpose of offering investors access to the future profits of Polygon, Inc. SpyritCoin will allow you to access the network of relationships created by Polygon and will give you, our investor, special status in the network.

The SpyritCoin Team consists of leaders in technology, business development, marketing, design, and human resources. This team has been involved in the crypto-space for over three years, with an emphasis on the Blockchain since 2017. Their background encompasses:

SpyritCoin was created in an attempt to create a unique crypto-currency that rewards investors as well as projects. The bonus will be distributed on a monthly basis and the reward amount is calculated by the total supply of tokens divided by the amount of investors.

Spyritcoin is a modernized decentralized network structured as an economic ecosystem and a unique cryptocurrency. Spyritcoin is the digital currency of a decentralized and economic ecosystem that enables all participants to be rewarded by keeping their network, or SpyritCoin, activity alive.

SpyritCoin began as an open source project that was unable to get funds. Where most projects shut down, SpyritCoin was born. In the years to come, these were our major development goals:

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