SpankChain utilizes a multi-token economic model, beginning with the SPANK token. SPANK is a staking token which can be utilized to mint alternative tokens offering specific payment and governance rights throughout the entire SpankChain ecosystem. The multi-token model is designed to abstract away ecosystem-wide coordination processes from mechanisms which meter platform usage rights.
For metering platform usage rights, SpankChain is developing a staking contract called the SpankBank which will allow SPANK holders to lock down their SPANK tokens to generate BOOTY tokens, which are redeemable for $1 in SpankChain infrastructure fees. While viewers will be able to pay models in ETH or any ERC20 token that models accept; performers and platform businesses can pay their SpankChain fees (payment channel hubs, live video, etc.) in BOOTY. This token model makes it possible to make a one time purchase of SPANK and then use the generated BOOTY to pay for SpankChain fees. At a very basic level, SPANK functions as a fee credit (BOOTY) generation machines. As a result, SPANK gives access to the platform at a fixed cost, comparable to holding a license.