About the deflationary SCC token
SCC is the native, mineable token on the DIG for IT platform and it is designed to be deflationary. Its release into circulation is tightly controlled using forced scarcity and is only rewarded through a single mechanism – Proof of Play (PoP).
The strict control on the supply of SCC being minted makes it difficult to obtain, while decreasing the ability for it to be used a “pump and dump” token, increases the worth of each token and helps to protect the token from price volatility.
Scarcity of the new supply isn’t the only strategy with which DIG for IT reduces market supply. The SCC token utilises a unique “Buy-Back and Burn” model, which is integral to the deflationary aspect of the token supply. This model rewards each token holder equally by actively reducing the supply of the token in the market, increasing the value of hodlers tokens.
This benefits long term holders because other SCC tokens will be bought back off the markets and burned over time, which makes remaining tokens held more scarce and more valuable. This buy back model also gives SCC market liquidity as there will always be a consistent buyer of the token if a holder should choose to exit their position.
A Buy-Back and Burn will only occur after a threshold is reached, however as the process is manually done the physical Buy-Back will occur randomly at the discretion of the DIG for IT team.
Use cases for SCC
SCC token is currently used in the DIG for IT platform to participate in regular DIG auctions – where a player can bid their SCC to win DIG tokens in return, which can be exchanged for TRX at any time. Many players have made large amounts of profit on their SCC by winning DIG in the auction.
All SCC bid in the auctions is also burned, further decreasing supply. More use cases for SCC will be added to the platform over time, giving more options to gain benefits and burn more SCC.
Slow burn mechanism
DIG for IT has initiated a slow burn mechanism which constantly burns the SCC supply 24 hours a day, 7 days a week. The rate of burn depends on how much SCC there is in the burn pool.
If there is more than 100,000 SCC to burn, the mechanism is designed to burn 1 SCC every 5 seconds. If that amount drops to 10,000 SCC, it will burn 0.1 SCC every 5 seconds. As the amount gets closer to zero, it will burn 0.000001 SCC every 5 seconds.
|SCC Burn Pool||SCC burned||Frequency of SCC burn|
|>100,000 SCC||1 SCC||Every 5 seconds|
|>10,000 SCC||0.1 SCC||Every 5 seconds|
|>1000 SCC||0.01 SCC||Every 5 seconds|
|>100 SCC||0.001 SCC||Every 5 seconds|
|>10 SCC||0.0001 SCC||Every 5 seconds|
|>1 SCC||0.00001 SCC||Every 5 seconds|
|0 SCC||0.000001 SCC||Every 5 seconds|
All burned SCC is sent to the TRON blackhole address which can be found HERE.
SCC’s Proof of Play (POP) Mechanism
Proof of Play (PoP) is a unique concept that the DIG for IT game platform uses to reward SCC to players. Just as Bitcoin miners are asked to invest in electricity and equipment to perform Proof of Work (PoW) or TRON participants are asked to stake in order to earn rewards (DPoS), PoP is a system designed to only mint new SCC to people who invest cryptocurrency and play within the platform. SCC mining is designed to be difficult, which in combination with the consistent burn of existing supply, will assist with increasing inherent value over time.
While TRON casinos require you to bet TRX directly, our PoP mechanism requires players to invest money into the DIG for IT platform, after which they will get an equal amount of DIG tokens back. DIG tokens can be exchanged at any time for the same amount of TRX back through the platform.
Players can spend their DIG tokens within the platform, providing them with the chance to be rewarded SCC tokens. Not every DIG spent will result in SCC being rewarded but the more the game is played, the more SCC that enters circulation. DIG for IT has added extra incentives for players to participate in PoP by allowing them to earn tron tokens while they play and earn SCC.
Without a PoP mechanism combined with an efficient market burn, token supply would inflate to unsustainable levels, significantly flooding the market with the token and reducing the tokens market value.
Currently SCC is listed on TronTrade and PoloniDEX where token holders have the chance to sell their tokens. This provides holders the ultimate ability to do as they wish with the tokens they have earned. If they choose to hold their tokens, they will receive the benefit of the buy back and burn without needing to freeze or stake their tokens.
We hope to have more exchange listings in the future and we are always open to listing on more exchanges over time, we are sure we will have more presence in exchanges in the future. Make sure to ask your favourite exchange to reach out to us!