Summoners Arena Essence (SAE)
Summoners Arena Essence
The native cryptographically-secure fungible protocol token of Summoners Arena, Summoners Arena Essence (ticker symbol SAE) is a transferable representation of attributed governance and utility functions specified in the protocol/code of Summoners Arena, and which is designed to be used solely as an interoperable utility token thereon.
SAE is a functional multi-utility token which will be used as the medium of exchange between participants on Summoners Arena in a decentralised manner. The goal of introducing SAE is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Summoners Arena without any intermediaries such as centralised third-party entity/institution/credit. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. SAE does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, the Affiliates, or any other company, enterprise or undertaking, nor will SAE entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in the British Virgin Islands, Singapore or any relevant jurisdiction. SAE may only be utilised on Summoners Arena, and ownership of the same carries no rights, express or implied, other than the right to use SAE as a means to enable usage of and interaction within Summoners Arena. The secondary market pricing of SAE is not dependent on the effort of the Summoners Arena team, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.
Further, SAE provides the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on Summoners Arena, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. SAE are an integral and indispensable part of Summoners Arena, because without SAE, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Summoners Arena. Given that additional SAE will be awarded to a user based only on its actual usage, activity and efforts made on Summoners Arena and/or proportionate to the frequency and volume of transactions, users of Summoners Arena and/or holders of SAE which did not actively participate will not receive any SAE incentives.
Last modified 1yr ago