The SPACE-iZ ecosystem comprises a suite of apps catering to various sectors such as property rental, accommodation, food delivery, and travel. These apps offer the expected functionality found in competitor apps within their respective sectors. However, what sets SPACE-iZ apart is that all users, including restaurants, customers, and delivery drivers, are considered stakeholders in the ecosystem.
Unlike traditional platforms, SPACE-iZ does not charge any commissions for app usage. Instead, access to the apps is granted based on holding SPIZ tokens. As the number of stakeholders in the system grows, new users will be required to purchase tokens to register. The number of tokens needed may vary depending on the supply and demand dynamics, ensuring a balanced ecosystem. For instance, if there is a shortage of drivers compared to restaurants and customers, drivers will be incentivized to join through token rewards.
Entities within the ecosystem are also rewarded with tokens for each economic activity they undertake. Whether completing a food delivery order or a property rental, entities are encouraged to review and provide feedback on their interactions with other entities. These reviews contribute to the reward mechanism, where tokens are allocated based on the feedback received. Additionally, a small percentage of tokens is deducted from each token transaction to cover the operational costs of running the apps and maintaining the ecosystem.
By implementing these simple yet effective token mechanisms, SPACE-iZ ensures that all entities involved in the ecosystem are duly rewarded for their economic activities. Using tokens creates an incentive structure where increased demand for the token corresponds to the ecosystem's success, providing stakeholders with tangible benefits.