The token we are going to talk about this week is Spore. Spore is a deflationary reflect token that capitalizes on the NFT market. The Spore token launched in March 2021. I am going to list some of the properties that have made the Spore token unique.
1) MultiChain
The Spore token is not on only one Smart Chain but two. The first one is the very popular BINANCE SMART CHAIN (BSC), which you can buy through Pancake Swap. The second one is the rapidly growing Smart Chain AVAX C-CHAIN, which you can buy on pangolin swap.
(2) AVAX BSC Bridge
The makers of Spore also made a bridge to swap between the two chains. There are benefits that we will mention later on switching chains.
(3) Burn capability
In the Spore protocol, there is a burning ability that on every transaction there is a 4.6% burn on the AVAX C-CHAIN and a 6% burn on the BINANCE SMART CHAIN (BSC). You may be asking yourself what is this burning thing? Well glad you asked. The burn takes a percentage of the transaction as a tax (In the case of the BSC 6%) and sends it to a wallet that is unlockable, hence burning that supply. And with a fixed supply the burn protocol makes the asset deflationary. As of today, 1/30/2022 Spore has burned 63.9% since its beginnings, which has been less than a year.
(4) Reflection
Just like how there is a tax to burn tokens there is also a tax to reward users: the reflection tax. The reflection tax takes 1.4% of the transactions made in Spore and rewards all the users who are holding Spore with more Spore. The reflection is paid to each user in proportion to what each user has. So if someone with 100 Spore made 1 Spore on a transaction then someone with 1,000 Spore would make 10 Spore on that transaction. The only catch is the reflection only works on the AVAX C-CHAIN. Besides that, as long as you have Spore on the AVAX C-CHAIN, you get the spore reflected straight to your wallet with no issues.
(5) NFT
Spore also has an active NFT market where you can buy and sell different Spore NFT's.
Conclusion
Spore has huge potential in 2022, between its Reflection, Burn capabilities, and NFT market. I could see 100%-200% growth this year.
For more information on Spore check out https://spore.earth/
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