At the genesis of the Cross Ledger Pre-Launch Network, 2 billion Spendcoins (SPND) will be created as specified in the white paper in the form of ERC-20 tokens on the Ethereum Blockchain.

Spend Foundation’s “Plan-of-Distribution” (PoD) requires the distribution to follow these standards of distribution with 50% being distributed to the world and 50% being retained by Spend:

62.5% (1,250,000,000 SPND) – Rewards Distribution
The goal of the Distribution Program is to make SPND easily accessible to millions of individuals and communities across the globe. By implementing a simple mechanism for distribution featuring a low barrier to entry, we hope to distribute free SPND to millions of individuals worldwide. We believe the Distribution Program will help us expand the reach of the network and, subsequently, help achieve our goal of building a more inclusive digital economy. Giving away SPND is an invitation for communities to learn more about digital financial assets and encourage users to learn about Spendchain and blockchain as a whole. The availability and active use of SPND on the network will increase the overall network’s utility. The Distribution Program will be in the form of purchase rewards back, wallet rewards back, and other rewards through Proof-of-Purchase.

12.5% (250,000,000 SPND) – Partnerships 
The purpose of the Partnership Program is to encourage adoption and growth of the Spend ecosystem through the institutional/corporate distribution of SPND while promoting the usage through rewards for Spend Card Holders. As institutional and consumer reward adoption is a primary driver for scaling usage, the Partnership Program is structured to incentivize key adopters and align their goals with Spendchain. To fund the rewards, 250M SPND will be set aside for grants to card rewards, businesses, governments, institutions, or nonprofit organizations that contribute to the growth of the Spend ecosystem that will go back to the end users.

12.5% (250,000,000 SPND) – Spend 
Distributed to Spend for Operations with a 1% monthly budget. (100 month release)

12.5% (250,000,000 SPND) – Founders & Advisors
Distributed to Spend Founders & Advisors with a 5 year release cycle.

The Distribution Program formally known as the Spendchain User Program was designed to make SPND easily available to billions of individuals and communities worldwide. By offering a user initiative based distribution we hope to reach millions and potentially billions of people around the globe by rewarding them for their own wallet and card purchases.

Here at Spend Foundation we believe the Spendchain User Program will help us expand our network and community by allowing us to build a larger digital economy. Distributing free Spendcoins is an open-door to communities and individual to learn more about the financial services tools powered by Spendchain. The more usage of SPND on the network will increase the networks global reach.

Therefore for these reasons, 25% of distribution allocation of SPND's are dedicated to this distribution

The distribution of Spendcoins through the Partnership Program has been designed to encourage mass adoption and growth of Spendchain through institutional and strategic partners. 

Block Rewards are distributed per block (1 second) and rewards the Validator forging the block on the ledger 2 SPND. 

Financial Nodes receive their commission on Settlements performed for Merchant Nodes.

Spend Foundation has created a visual PDF break down of Spendcoins by clicking here.

Spendcoin’s Token Generation Event (TGE) was on September of 2018. Since December 2018, there was a 20% release of Spendcoins, out of 250,000,000 allocated, to founders and advisors of Spend Foundation. The next distribution is 20%. The Spend foundation agreed to change the 3 year plan to a 5 year plan of inflation so there will be a 20% inflation of this amount over the next 4 years.

There is a 1% monthly inflation allowance for Spend distribution out of 250,000,000 which amounts to a 2,500,000 SPND monthly distribution.

Spend Foundation’s 500,000,000 allocation has a inflation rate over 20 years that begins monthly on September 2019.

The Spend Team will make all reasonable efforts to use their allocation of the inflation via OTC and other avenues to also use limit and not market orders via market makers.

Below is Spend Foundation’s Spendcoin estimated unlock schedule for transparency purposes. This does not include any Spend Partnership, Spend Enterprise Alliance, or Spend Rewards distributions.

Monthly Inflation of 2,500,000 is covered below:

4/1/2019 -2,500,000

5/1/2019 -2,500,000

6/1/2019 -2,500,000

7/1/2019 -2,500,000

8/1/2019 -2,500,000

Beginning September 2019 the Spend Foundation 20 year inflation begins, therefore, monthly inflation is now 4,583,333 as shown below:

9/1/2019 -4,583,333

Spend Founder & Advisor 20% unlock occurs and therefore  50,000,000 SPND is allocated into circulation as shown below:

10/1/2019 -54,583,333

11/1/2019 -4,583,333

12/1/2019 -4,583,333

1/1/2020 – 4,583,333

2/1/2020 -4,583,333

3/1/2020 -4,583,333

4/1/2020 – 4,583,333

Based on the information on our distribution plan since our launch we should technically have a circulating count of 67,500,000 (as of 3/1/2019). However, the team has only removed 6,434,448 out of the 17,500,000 that should be unlocked based on the schedule for the 1% inflation of Spend operation which is over 50% less than current supply.

Having these tokens in circulation doesn’t mean they will all be sent to exchanges. This is a misconception. Having these tokens unlocked means they will be available for movement. We will update this schedule every year.