The Satoshi Finance Token or "SFT" is the native token of the SatoshiFaces ecosystem. This utility token will be used to complete functions and access features on the Faces platform such as naming artworks, with more to come soon! Beyond that, SFTs will be used as the core utility token when interacting with Satoshi.Finance’s upcoming NFT x DeFi solution.
To ensure decentralized distribution of these tokens is maintained, there will be no allocated or pre-minted; Team, Advisor, Marketing or Development tokens. The only way tokens will ever enter the circulating supply is through the 4999 Faces. New token generation will follow a deflationary mechanism with rewards given to artworks reducing by 25% a year until the final tokens are minted in ten years from the start of our Faces sale date.
The owner can claim these tokens to their wallet at any time
This is a one-time bonus. After this point, the only way to earn SFT will be to buy and hold a SatoshiFaces NFT.
The creative team plan to keep building upon the ecosystem created thus far with the implementation of additional means of customization and viewing of the digital art, all of which will be redeemable through the use of the SFT token. The unlocking mechanism of the artworks will not be the last interactive experience enjoyed by owners. The goal will always be to create an immersive, interactive and innovative ecosystem built with NFT technology as its core. Note, the digital artworks themselves are immortalized on-chain and will never be altered, added to, or amended in any way.
Commencing April 5th 2021 the team began the development of an industry-first NFT x DEFI platform allowing permitted NFTs to be used as collateral to lend and borrow with customizable mutually agreed terms through the Ethereum Blockchain. Further information regarding the rollout of this supplementary platform will be released on the Satoshi.Finance page. Upon its release, the SFT token will play a significant role in the functioning of the platform.
Whilst not currently confirmed, there is the possibility of the Satoshi team working on additional limited run iterations to add to the ecosystem. These iterations will be completed by different artists with different subjects matters. Purchases of these future artworks may, in part, require payment via SFTs.