Project update: Tokens, Reputation Points, & Testnet

Today, we’re announcing some important updates to the project, including details on our alpha and beta launch plans.

Since our raise announcement, the team has been working hard to build the platform so our pilot community can begin Flying-to-Earn.

We know our community is looking forward to hearing what’s next, so let’s dive in.

Tokens

The team behind Spexi is in the early stages of developing a tokenomic model and has engaged with some of the best minds in crypto, economics, regulatory, and the aerial data market to create a system that will benefit contributors & data buyers alike.

The goal is to provide pilots who capture imagery for the platform with a token that can be immediately used for a variety of purposes, including things like reserving Spexigons for preferential capture via a staking mechanism.

The Spexi utility token ($SPEXI) is proposed to be the Spexi platform’s native token used to reward pilots when they fly missions to collect imagery.

Over time, the team intends to build an ecosystem with multiple use cases for the token so that it has the potential to be useful and of value to pilots within the ecosystem. (e.g. reserving Spexigons for preferential capture time periods, purchasing advanced training etc.).

Reputation Points (RPs)

When the Spexi testnet launches, users will earn Reputation Points (RPs) for collecting & uploading imagery to the platform.

Once the platform moves to Mainnet, it is intended that users will continue to earn Reputation Points in addition to also earning tokens. The updated docs go into more detail on RPs.

Workdrops

Spexi intends to Workdrop $SPEXI tokens to eligible users who have earned RPs during testnet. The more RPs a user has accumulated, the more $SPEXI tokens they may be eligible for. This should serve as an incentive to capture Spexigons before a token exists and is available to earn.

The term “Workdrop” refers to a distribution of tokens to eligible users who have directly contributed effort to the platform’s early growth. Unlike a general airdrop, Workdrops will be for specific contributors based in specific regions the platform launches in.

Testnet

Spexi will launch its testnet in a limited number of cities and geographies to ensure the platform is thoroughly tested and feedback is collected from our pilot community before a larger rollout.

Here is the plan as of today (and keep in mind this is subject to change):

Phase 0.1 - Internal Alpha (Starting June 2023)

Phase 0.5 - Trusted User Alpha

Phase 1 - Private Waitlist Beta

• The Lower Mainland of British Columbia, Canada, with the city of Surrey being prioritized.
• Other regions in Canada TBD

Phase 2 - Public Beta Polygon Testnet

The updated docs, which include more details on the points above, can be found here: https://docs.spexi.com/

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