$SPICE Utility

Share of Network Earnings

Stakers receive a proportional share of the network’s revenue, rewarding their contribution in securing the ecosystem.

Gas fee payments

Gas fees diminish the user experience of a chain but present deflationary benefits to the gas token. Spicenet achieves a gas-free experience for the end user by enabling paymasters to pay gas fees with $SPICE on their behalf and receive stablecoin compensation from users.

Validator Staking Rewards (in $SPICE)

Validators earn staking rewards in $SPICE that is distributed according to a halving schedule

Transaction Priority

Spicenet features a transaction priority algorithm allowing high-fidelity actors to "skip" ahead in the transaction mempool. The priority algorithm works by taking into account the priority fees submitted by the transaction, and the age of the transaction, such that older transactions are given more priority while still respecting priority fees.

Bandwidth Bribes

Spicenet establishes a double two-way transaction bandwidth marketplace, allowing high-fidelity actors like solvers and market makers to get priority inclusion(not ordering). Validators conduct a two-way auction where they sell transaction bandwidth to users, allowing users to consume this bandwidth and therefore apply higher priority to their transactions, and the network adopts a reputation system, offering better inclusion guarantees to validators with good reputation with regards to transaction delivery. I.e validators that do not spam the network, or maintain a stable flow of transactions will be assigned higher priority.

Network Fee Discounts

Stakeholders benefit from reduced fees, creating cost efficiency for any high volume actors on the network. This presents another competitive advantage that applications may gain with an increased SPICE stake.

Governance Rights

Token holders participate in governance via Spicenet DAO, passing judgement in matters including but not limited to creation of new Network-Owned Liquidity vaults, adjustment of parameters of existing vaults, inflation schedule changes, etc.