Shopping.io: Token Migration: $SPI & $GSPI to $SHOP guide

3 min readMay 5, 2022

In order to grow, we have to also be ready to adapt; here at Shopping.io, we strive to have a token that will represent the success of the platform as well as being a vital piece of our ecosystem.

Introducing Shopping.io’s new native token, $SHOP (ERC-20), which is built on the Ethereum blockchain and serves as a utility token within Shopping.io’s new ecosystem. $SHOP provides numerous benefits which greatly encourage users to utilise the Shopping.io ecosystem.

Following a community poll with an overwhelming 97% approval rate, Shopping.io has decided to merge its current native tokens ($SPI and $GSPI) into $SHOP. This will allow for new and improved smart contracts, more favourable rewards systems and tokenomics that align with Shopping.io’s new products.

This article addresses the actions that $SPI, $GSPI and Shopverse NFT holders may need to take prior to $SHOP’s launch on September 9th 2022 in order to receive the correct token allocation.

Company actions preceding distribution

Prior to the snapshot and distribution of $SHOP, all liquidity will be pulled from $G/SPI’s supported exchanges with the eventual delisting of $G/SPI.

Token distribution

$SHOP’s distribution will occur in the form of an airdrop directly to holders' Web3 wallets in the following percentages. (Percentage of the initial token supply of $SHOP)

90% Holders of $SPI and $GSPI
7% Shopverse NFT holders within the form of an NFT staking platform
3% Liquidity CEX/DEX
The initial supply of $SHOP will be 100 million (Circulating supply will be dictated by burn and mint).

Token holder requirements to receive $SHOP

Tokens will only be taken into account if they are located in the following forms:

Web 3 wallet (e.g Metamask, Trust Wallet, etc)
Tokens currently in $G/SPI’s staking platforms
Hardwallets (Ledger, Trezor)
Cold wallets (Exodus, Atomic)

Tokens located in the following forms will NOT be taken into account in the airdrop:

Exchanges
Staking rewards (Staking airdrops must be pulled from the staking platform to your Web3 wallet)
CC Tip wallets (Instructions for withdrawals are available within the CC Tip bot’s direct messages)
Shopping.io tip bot (Instructions for withdrawals are available within the Shopping.io Tip bot’s direct messages)

Disclaimer

At the time of the $SHOP airdrop, your $SHOP tokens may not be visible within your wallet. Users receiving the airdrop to a ‘hot wallet’ such as Metamask will be able to add the token to their wallet manually. Users receiving the airdrop to a ‘cold wallet’ may need to wait until the wallets service provider integrates the token. Cold wallet airdrop recipients can also obtain access to their tokens by importing their seed phrase in to a hot wallet.

Users will be able to see their airdrop transaction on Etherscan by looking at the past transactions of the recipients wallet.

Any $G/SPI located on exchanges can be moved to a Web3 wallet with the help of the following instructions:

Gate.io Guide | Kucoin Guide | MEXC Guide | Bittrex Guide

For GSPI holders only:

How to connect MetaMask to Binance Smart Chain

For further questions, Shopping.io’s community team is available 24/7 on both Telegram and Discord. Any individual issues will be dealt with by Shopping.io’s dedicated tech support team that can be contacted through the live chat option on our website or through support@shopping.io