SNKRZ TOKENOMICS

It's no news that tokenomics play a huge part in helping crypto enthusiasts understand and analyze a token before investing in them.

SNKRZ has two tokens which are $SKZ and $FIT.

$SKZ

The $SKZ token is the in-game token for SNKRZ and it is only minted when a user starts to workout on the SNKRZ app.

NOTE: There's absolutely no minting date for $SKZ

$FIT

The $FIT token is the utility token for SNKRZ ecosystem which functions in a decentralized manner. It is the medium of exchange for users in the SNKRZ ecosystem.
The purpose for which $FIT was created is to provide participants with a medium for convenience and safe payments within the SNKRZ ecosystem which in turn eliminates the need for a centralized third party intermediary.

$FIT is an integral part of SNKRZ

As A Reward

To encourage participation in the SNKRZ ecosystem and also user contributions, $FIT is distributed as an incentive to reward participants for their effort in the ecosystem.
Active participation in the SNKRZ ecosystem attracts additional $FIT rewards, because inactive users will not be rewarded.

There are specific attributes of $FIT, some of which are;

Members who own $FIT can post governance proposals and vote on future feature updates, however these voting rights are limited as they do not give members the right to vote on operations and management of the company.

In-game activities like upgrading shoe NFTs, acquiring shoe skins, acquiring items, and expanding inventory space can be done using $FIT.

In the SNKRZ ecosystem, LAND owners can earn $FIT rewards when a user enters their LAND.

NOTICE:

$FIT can only be used in the SNKRZ ecosystem.

FIT does not represent any ownership, participation, rights, ownership, or benefits of any company, distributor, affiliated company, or other company, corporation, or business in any way.


To effectively stabilize the price of $FIT and $SKZ, all tokens used for fees will be burnt. Some of the methods by which this will be achieved are through the;
Purchase of shoes ∙ Sales of shoes ∙ Repair of shoes ∙ Leveling up shoes ∙ Breeding shoes ∙ Synthesis of shoes ∙ Participation in shoe's Lucky Draws ∙ Purchase of Dubrae ∙ Installation of Dubrae ∙