Token Utilities and Initiatives
The Despoke token (DSPK) is the native token for Despoke, a fashion label built on the Ethereum blockchain. DSPK serves several key functions and utilities within the Despoke ecosystem:
Voting Rights: Holders of the DSPK token are granted the opportunity to influence the future of garment production. By possessing the DSPK token, users will have the ability to vote on which garments they would like to be developed into actual products. For voting eligibility, holders will have to hold 50 000 $DSPK Tokens.
Revenue Share: Investors and holders of the DSPK token will receive a share of the company’s revenue. This will be implemented in buybacks/burns in the development stages of the business for legal reasons revolving around revenue share. Future business goals is to implement revenue share directly to holders in ETH.
Product Discounts: Despoke enables token holders to connect their wallets directly to our website. Upon verification of token holdings, a dynamic discount will be applied to eligible product purchases.
The discount rate is proportional to the quantity of $DSPK tokens held; the greater the token balance, the higher the applicable discount (between 10-30% discounts on all products). Eligibility for the discount program requires a minimum holding of 100,000 $DSPK tokens.
Product Gating: We implement a tiered product access system based on token holdings. Token holders are granted early access to newly launched collections according to their tier classification.
There are four distinct tiers, determined by the number of tokens held by an individual. A higher token balance corresponds to a higher access tier.
Pre-sales are executed in sequential order based on tier ranking:
Holders in the highest tier are granted first access to available products.
Subsequent tiers are granted access in descending order of token holdings.
This mechanism ensures that the most invested community members are prioritized during new product launches.
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