SD-004: SkellieCat Summoning Mechanism

Overview: The primary burn mechanism for $BONES (ERC-20 utility token within the Spectral Skellies Ecosystem) will be the summoning (minting, breeding, etc) of SkellieCats. The proposed mechanism would require two Spectral Skellies to be held by the summoner and the process would burn 600 $BONES.

Background:

$BONES token is an ERC-20 token on the Ethereum blockchain that serves as a utility token for the Spectral Skellies Ecosystem. Beginning November 26th, 2021, all Spectral Skellies will accumulate five (5) $BONES per 24 hour period. An initial allotment of 35 tokens will be provided to all Skellies.

SkellieCats are the Spectral Skellies primary companion. While their utilities have not yet been revealed (as of November 22, 2021), they will be key to unlocking numerous benefits within the Spectral Skellies Ecosystem. There are a total of 6666 SkellieCats available for summoning - with more than 2 Billion possible trait combinations.

Details:

The Skellie Development team proposes the following requirements for summoning SkellieCats.

1. In order for a SkellieCat to be summoned, the summoner (token holder) must have a minimum of two Spectral Skellies in their wallet.

The benefit to this requirement is increased demand for buying and holding Spectral Skellies. The risk associated with this requirement is excluding holders with only one Skellie from SkellieCat Summoning.

2. The price of summoning will be set at 600 $BONES.

The benefits of this price is increased burn of $BONES token, inherently increasing their scarcity and value. With this price, holders of just two (2) Spectral Skellies would need to accumulate $BONES for 56 days in order to summon one SkellieCat, unless they purchased additional $BONES from a liquidity pool.

Using the daily supply of $BONES, and assuming no other burn mechanisms, a 600 $BONES summoning price would result in a minimum summoning period of 233 days.