1. Sphere tokens
Sphere tokens (SPR) are given out by the contract during crowdfunding, and it provides mutiple functionalities.
Our aim is to ensure all games are funded solely by SPR tokens. DAO voting is a core part of our ecosystem to ensure the entire system can be run in an almost entirely trustless manner directed by token holders, therefore allowing the organization's branding and potential lifecycle earnings to be priced in - making each SPR token more valuable.
Claim 1.75% fees every 12h reset. Original fees have been cut down from 5%.
Each token contains inherent value on top of fee revenue, determined by size of game reserves.
Smart contract value exchange
DAO provides token services accessible round the clock. All services are publicly accessible on the blockchain.
Token holders have voting rights in DAO, and it is proportionate to the amount of tokens held.
Valuable initial sale
High eth:token ratio for initial coin sale. At least 50% more tokens per ether.
3. How to claim
Tokens are moved from wallet to wallet in a First In First Out(FIFO) basis. Note that if someone transfers a token without first claiming the fees it is entitled, the fees will be transferred to the reserves.
Fees claimable are deposited by games after every round. Reserves are accumulated from crowdfunding and unclaimed fees.
Connect to the token holder's page with a Mist or Parity browser to execute voting rights or claim fees.
Alternatively, token holders can execute their privileges manually using Geth or Web3 through the DAO Contract.
DAO Contract functions:
2. viewBurnValue(address) - View value of all tokens when burned for a token holder
3. claim() - Claims all fees a token holder is entitled to. Unclaimed fees will accumulate over time.
4. claim(address) - Same as 3, but ether will be sent to specified address instead.
5. claim(numRounds) - This can used in a scenario where there are too many rounds of unclaimed fees. Allows claiming fees for a specified number of rounds, up to the latest completed round.
6. claim(numRounds, address) - Same as 5, but ether will be sent to specified address instead.
7. burn(amount) - Burns a specified amount of token and gets all unclaimed fees plus inherent value in return.
8. burn(amount, address) - Same as 7, but ether will be sent to specified address instead.
9. viewUpcomingProposals() - Get a list of all proposal addresses submitted but are not up for voting yet.
10. viewLiveProposals() - Get a list of all live proposal addresses that can be voted on.
11. viewCompletedProposals() - Get a list of all proposal addresses that have been closed.
12. viewVoteStatus(proposalAddress, tokenHolderAddress) - Check voting status of a token holder for a given proposal.
13. vote(proposalAddress, amount, selectedOption) - Vote for a proposal using a specified amount of tokens.
4. Token holder rights
Token holders can execute functions made available to them through a DAO Contract. It stipulates how funds are used and how token holders can approve or disapprove of fund withdrawals/usage. DAO contract is enforced by Ethereum Blockchain and EVM.