SpankChain
SpankChain
SpankChain (Symbol: SPANK) is a decentralized adult entertainment platform with integrated payments and self-sovereign identity, powered by blockchain technology. By building their SPANK and BOOTY tokens on top of Ethereum, Spankchain has developed an innovative payment system that is unrestricted and free from censorship. [4] [3] [22]
The protocol was founded by Ameen Soleimani and William Bentley de Vogelaere in 2017. [4]
Product
Spankchain's main product is a website where adult performers can host their webcam shows and viewers can pay directly using Ether and Ethereum tokens. By using Ethereum's smart contracts, Spankchain ensures sex workers, who regularly suffer from having accounts frozen by traditional banks and PayPal, gain financial independence. [4]
Token Supply & ICO
The SpankChain Genesis Contract minted a total of 1,000,000,000 SPANK tokens.
On October 31, 2017, SpankChain raised 19,840 ETH (worth $6 million at the time) by selling 300,043,386 SPANK during their Initial Coin Offering (ICO).160,000,000 SPANK were distributed to founding team, team members, advisors, and early contributors. 539,956,614 SPANK will be reserved for platform subsidies, industry partners, strategic incentives, and additional fundraising. [10]
Awards & Accomplishments
In October 2018, Spankchain won Utility Token of the year at Ethereum's DevCon 4 in Prague.