There are currently two tokens on the ScPrime network; SCP and SPF.
SCP is a utility coin, permissionlessly mined by ASICs with Genesis on 10/31/2018 and used in smart contracting between customers and the Storage Provider network. Supply is infinite, but at 5 years, the inflation schedule is ~1.25% with a coin burning mechanism making supply essentially flat/complete. Coins are burned if a Provider node loses customer data by forfeiting Collateral used to secure their side of storage contracts.
SPF provide stakeholders a mechanism to earn revenue from storage network use across the entire network. The ethos at ScPrime is Evolution, Then Revolution meaning the world’s business data customers are not inclined to full self-service models requiring crypto purchase, custody and the abandonment of well-established protocols/APIs. The XNS product suite developed by the team exists to allow business customers to operate as they already do on products like AWS and Google Cloud, with fiat payments, SLAs, TOS and support. SPF tokens earn a percentage of all file storage contracts. The amount is paid in SCP to a pool of addresses, of which the development corporation is the largest holder.
When self-service, decentralized users become normalized and no longer require mechanisms of traditional clouds, they should be able to purchase/custody SCP for use in data storage. In these cases, SPF provide a revenue stream to the developers who maintain and evolve the network software.
As of 1/31/2024 the project is working on migration to the Solana blockchain. Tokens will migrate first, followed by smart contracting, consensus and the storage network thru the end of year. Token migration will immediately result in a new coin minted on Solana contracts. In the process, SPF holders send tokens across a Transporter where original outputs get burned, reducing the supply of SPF on the ScPrime blockchain. Newcoin (name/ticker has not yet been announced) is minted in identical quantities on Solana leaving all ownership percentages intact. This results in a new supply, both circulating and total with a preset emission schedule.