Earning $SCAN

In the early stages of Scannit's development, the majority of rewards will be sourced from the Baseline Issuance pool. However, as the ecosystem matures and generates revenue, this balance will shift, reducing the reliance on Baseline Issuance and minimizing the need to increase the circulating supply of $SCAN tokens over time. This model is similar to other Web3 networks, like Helium and DIMO, where initial rewards from foundational activities are gradually replaced by rewards derived from the network's operational revenue streams.

Baseline Issuance Overview:

The $SCAN token has a total supply of 1 billion tokens. Of this, 38% is allocated to the Baseline Issuance pool, which will be distributed over a period of 20 years. The issuance of these tokens is designed to decrease gradually, with a 16.6% reduction in issuance each year. This mechanism is intended to reward early participants while maintaining long-term incentives for continued engagement within the ecosystem.

Earning $SCAN:

Participants can earn $SCAN tokens by actively contributing to the Scannit ecosystem. This can be done by uploading data such as receipts and invoices, or by integrating personal financial accounts like bank accounts and crypto wallets. Each valid data contribution earns tokens, with the potential for higher rewards based on the quality and relevance of the data. Users have the option to verify transactions by connecting their banking account f. ex. via Plaid and prove the accuracy of their provided information.

This design was created to increase the quality of the generated data. To maximize your $SCAN earnings, consider these strategies:

• Regular Participation: Continuously engage with the Scannit by frequently uploading data, ensuring consistent contributions.

• Complete Quests and Special Activities: Scannit offers various quests and activities that provide additional opportunities to earn tokens. Engaging in these can boost your earnings.

• Contribute High-Quality Data: The more accurate and relevant your data, the more valuable it is within the ecosystem. Focus on providing comprehensive and high-quality data to maximize rewards.

• Leverage New Features: As Scannit evolves, new features and functionalities will be introduced. By staying updated and utilizing these new tools, you can find additional ways to enhance your earnings.

The gradual decrease in token issuance encourages early adoption and sustained engagement, making it beneficial to start early and remain active within the ecosystem to optimize your $SCAN token accumulation.

Rewards from Market Issuance

In the Scannit ecosystem, rewards from Market Issuance are designed to closely align with the value generated by users and applications. This structure ensures that those who contribute the most to the ecosystem receive the largest $SCAN rewards, thus creating a direct link between incentives and behaviors that benefit the network.

When users engage with approved Scannit apps, they receive additional $SCAN tokens. This engagement not only rewards the user but also supports the ecosystem by ensuring a portion of $SCAN is burned, which helps maintain the token’s value.

The specifics of the reward structure, including the amount and conditions, will be determined by the app developers and agreed upon by the users, provided that rewards are issued in $SCAN and a small percentage is burned to help sustain the ecosystem. In cases where app developers prefer not to handle $SCAN directly, the Scannit Foundation can facilitate the transaction, accepting payments in traditional currency and remitting the appropriate amount of $SCAN to the user.

This page does not make any binding representations.

Please be aware of scam tokens. The official token address for $SCAN will be clearly provided on our official platforms. Always ensure you are interacting with the correct token address and verify the source of any communications.

It's crucial to triple-check that any communications claiming to be from Scannit are authentic. Scammers often attempt to deceive users into sending them crypto or revealing private keys. There are no guarantees regarding the nature of the $SCAN token or its distribution, as these may change based on ongoing legal, tax, and other design considerations. Future alterations to the token's distribution could also be decided by a vote of the token holders in accordance with network governance.

Scannit reserves the right to withhold tokens from users whose wallet addresses are flagged for compliance issues, including anti-money laundering, sanctions, or other applicable laws. Nothing in this document or related communications constitutes a promise or guarantee of any future actions, and Scannit is not bound to distribute $SCAN tokens to any user.