ShoeVault’s Rewards Program
Today we would like to talk about the structure of ShoeVault’s Rewards Program.
At ShoeVault we want the community to be in charge and to benefit the most in every way possible.
Starting right now, users in Discord are accumulating $Laces.What are $Laces? $Laces are ShoeVault’s utility token.
It’s important to mention, that you do not need to own a $Shoe to be able to claim $Laces through discord activity. We want to reward all levels within the community and hence, 15% all of total supply of $Laces is to be distributed through discord.
There is a bot tracking everyone’s activity and giving rankings. Your XP * 2 will be the $Laces you will be able to claim.
Then we have the owners of $Shoes, who have a bigger participation.
First, they have a vote since 1$Shoe = 1 vote in the DAO.
Second, they will be able to stake their $Shoe token and generate $Laces.
50% of total supply of $Laces is to be distributed through staking of $Shoes.
20% of total supply is reserved for future incentives decided by the community.
Last, 15% of total supply of $Laces are reserved for the team. These tokens are locked for 24 months and they can only be released after that at a monthly rate of 4%.
We want to ensure all $Shoe and $Laces holders that we want to grow the community into a full on sneaker ecosystem. Rugpull from the team is not technically possible.
