$SPX Token

There are two main assets in the SmartPlaces ecosystem: the $SPX token and SmartPoints. Both assets serve different functions within the ecosystem. By using both web2 and web3 content, this dual approach was chosen and intertwined with appropriate mechanisms. The purpose and interplay of these two assets will be explained in more detail in the following sections.

$SPX Token

The SmartPlaces utility token ($SPX) is the backbone of the economic system developed on the web3 side. On the one hand, it serves as a reward for contribution and participation in the network, and on the other hand, it can be used for services provided by our partners, such as advertising. The $SPX token is the native utility token of SmartPlaces, offering cryptographic security. It reflects a decentralized and trustworthy method for accessing functionalities of SmartPlaces. The various aspects are discussed in more detail in the following section ‘Token Utility & Token Economy’.

SmartPoints

The SmartPoints are the basis for the use of all functionalities in the web2 area and the app. The user does not need a wallet to receive, purchase and use SmartPoints. SmartPoints enable the user to purchase digital content and use extended functions within the app to achieve greater reach, interaction and participation. SmartPoints can therefore be used to improve the user’s own experience and that of other users, and to actively shape the network. There are several ways to earn SmartPoints. SmartPoints can be collected through activity and participation in the network without using financial resources. Everyone who posts, shares, participates and has fun in SmartPlaces automatically earns SmartPoints. If that is not enough, users can also exchange $SPX tokens for SmartPoints.