Question 1

What is the latest price of SpankChain (SPANK)?

Accepted Answer

The current price of SpankChain (SPANK) is at XRP 0.00512688, having increased in the last 24 hours.

Question 2

What is SpankChain (SPANK) exactly?

Accepted Answer

SpankChain (SPANK) is an adult entertainment ecosystem powered by cryptoeconomics and built on the Ethereum network. Its primary aim is to revolutionize the adult industry by making it more decentralized, private, and secure. SpankChain utilizes a multi-token economic model including both the SPANK token, which is used for staking and governance, and BOOTY which is a stablecoin earned by staking SPANK.

Question 3

Who are behind SpankChain?

Accepted Answer

SpankChain was founded by Ameen Soleimani, William De Vogelaere and Janice Griffith. Soleimani was a software engineer at ConsenSys before launching SpankChain. The team is composed of experts in blockchain technology, cryptography, and business development.

Question 4

How does SpankChain work?

Accepted Answer

The SpankChain ecosystem operates using two native tokens SPANK and BOOTY. Users purchase SPANK tokens, which then can be staked on the SpankChain platform to earn BOOTY, a stablecoin used for tips and premium services on the platform. The platform also features a live streaming application (Spank Live) allowing content creators to offer services directly to users, with transactions made in BOOTY.

Question 5

What makes SpankChain unique?

Accepted Answer

SpankChain stands out due to its target industry and the unique needs it addresses in the adult entertainment sector. By providing a decentralized payment and content-delivery system, SpankChain protects adult industry professionals from censorship and payment blockages, often prevalent due to the nature of the business, by traditional banking institutions. In addition, the ecosystem fosters privacy for all its users while ensuring secure transactions.

Question 6

How is SpankChain's SPANK token used?

Accepted Answer

The SPANK token plays a critical role in maintaining the SpankChain ecosystem. It's required to moderate the creation of BOOTY tokens, which are used directly within the platform for transactions. By staking SPANK tokens on the platform, users can earn BOOTY tokens. Also, SPANK serves as a governance token, giving holders the power to vote on proposals that can steer the direction of the platform.

Question 7

How much SpankChain (SPANK) is currently in circulation?

Accepted Answer

At present, there are 861.0M SPANK tokens in circulation.

Question 8

Where can you buy SpankChain (SPANK)?

Accepted Answer

SpankChain’s SPANK tokens can be bought and sold on the {IDEX, CoinExchange, EtherDelta, DeversiFi} where it’s currently listed. Remember, to get started, you'll need to have an existing crypto wallet and a verified exchange account.

Question 9

How to keep your SpankChain safe?

Accepted Answer

Keeping your SpankChain (SPANK) safe involves the usual best practices for securing crypto assets. This may include using hardware wallets for storage, ensuring your private keys are secure, enabling two-factor authentication (2FA) on your exchange accounts, and regularly updating your devices with the latest security patches and updates. It's essential to be conscious of your digital security, especially when dealing with sensitive content offered within the SpankChain ecosystem.

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