Coins and Tokens – Purpose / Goals
The 2 tokens of the project dovetail to create a rich and secure environment to store critical data
Two Tokens
The ScPrime ecosystem is built around two coins/tokens; SCP as the utility coin that powers storage contracts and SPF as a network token that earns yield off the storage included in contracts. ScPrime is a UTXO blockchain, similar to Bitcoin. To provide accessibility to buy and sell tokens, typically in the past we would list on a large centralized company like Binance. Today, we realize the power and potential of decentralization by focusing on DeFi and permissionless trading.
As a community, we decided on Solana to begin that journey back in 2023 and completed a one way permissionless bridge in 2024. Thought was given to creating Hashed Timelock Contracts as a potential strategy for 2 way bridging but decided against based on a longer term goal to ultimately move storage contracting off our own purpose built blockchain and onto a larger ecosystem. This is still our strategy.
The impact is tokens sent from our chain to Solana must be burned (sent to an unspendable address) and minted as new tokens on Solana. To prevent the native chain from becoming inoperable, we set a limit of 50% of the total supply that can bridge and never come back. On SPF, the amount is also 50% but there is also an additional 2.6M per month limit on token sends.
Supply
The Transporter bridge has been phenomenally successful with 12.8M SCP out of a circulating supply of just under 59M already sent over. This means there are over 12 million less coins available for storage contracting and collateral. For SPF, things are a little different. SCP has been on several exchanges since our founding and traded extensively during that time.
SPF have never been sold by the corporation and are not publicly tradeable. When transported to Solana, they are minted anew as D2X and available for trading on decentralized platforms. There is a total, finite supply of SPF equaling 400 million tokens. Of these, 81.88M have transported and become tradeable D2X.
Based on the monthly limit, just over 10M additional tokens may transport before year end.
https://scpri.me/software
The Transporter is included in the Web Wallet available at this address
Putting it all Together
Over the life of the project, people have sought out these tokens because they earn 15% as a supply on the total storage used on the network, not just the amounts earned by a single node or machine. While storage used today is modest, a future where the network is viewed similar to other large data storage clouds could allow SPFto share in a growing pie of revenue with 15% pulled and distributed automatically via smart contract to holder wallet addresses.
The wrinkle for D2X on Solana, is they do not share in this revenue unless locked into staking contracts on Solana. Users instead lock up coins based on staking yields and time goals, and all token yields from storage that would have been due the supply are minted to a pool that is used to help fund staked token yields. Tokens loose in wallets or used in LP do NOT earn any yield at all. Reasons one might Transport to D2X and not stake would be to take advantage of Points promotions on LP or to sell tokens
On the native chain, SCP, Corp. holds just over 50% of the total supply with corporation shareholders holding approximately 25% of the total supply, mostly gained years ago as free bonuses with stock share purchase. These are fully unlocked and only limited by the Transporter in what can be offered on the exchange.
200M of the SPF have been in a recently opened timelock. 50M have been pulled from this amount and 150M will be re-timelocked for another year this week. Watch this space for an announcement.
