Last Revision: November 21, 2021 Article Status: Published Note: This page may get updated if there are changes to previous information.
It's official! The $SIPHER Initial Public Sale will be held on 6 December 2021, on our https://sipher.xyz/ website!
Before we discuss about the $SIPHER initial public sale, we would like to recall the concept of network effect & distribution of economic value. Bitcoin’s network effect derives from more people considering it a store of value, which in turn, incentivizes miners to secure the network. Ethereum’s network effect derives from developers who deploy apps — each becomes a building block that other developers can compose into higher order services, driving increased usage, and demand for $ETH as quoted from https://future.a16z.com/crypto-business-model/.
We believe Sipher's network effect will come from our community of gamers, streamers, guildmasters, developers, entrepreneurs, entertainers, traders and Sipheria's adventurers, and with each newly onboarded member, we can foster more interaction, more chance encounters, more fun & pleasure, driving use and demand for $SIPHER. Ultimately, the value of Sipher and $SIPHER, is in the hands of our community.
Crypto networks like Bitcoin and Ethereum are the very first community-owned-and-operated platforms at scale. Following the greats, we believe through $SIPHER, we will be able to leverage this to build & distribute economic value, build network effects and generate value for our contributors, supporters, backers, and our communities.
The $SIPHER token lies at the heart of the Sipher ecosystem, helping coordinate and align incentives of stakeholders involved.
Please visit Sipher Tokenomic for more details.
The Sipher ecosystem is designed to be progressively owned, contributed, operated, maintained and upkept by the community consisting of its players, guildmasters, streamers, fans and builders. $SIPHER is designed to be the tool for distributing the value of and power over any particular operational instance of the Sipher Vault.
$SIPHER will only work that way if our builders, players, guildmasters, fans and users who acquire $SIPHER know how to use it as a community mechanism, developing social understandings that give $SIPHER meaning and value. Although the purposes of $SIPHER are thus aspirational and eventually beyond any single party’s control, we will seek to give $SIPHER features that will encourage the Sipher community to use it in the way that will benefit ecosystem as a whole in a sustainable manner.
The total supply of tokens to be minted will be 1,000,000,000 $SIPHER. These tokens will be distributed based on the various vesting schedules since the Token Generation Event (TGE) to the stakeholders within the ecosystem.
Please refer to the Token Distribution and Token Vesting for more detail.