Athlete Equity

The system we are building allows you to buy athletes in the form of SPT’s or Synthetic Player Tokens. Your team is a portfolio of athletes; which can blend athletes from different sports and leagues around the world. For example, a team can own LeBron James Token and Odell Beckham Jr Token in the same portfolio, despite the athletes playing two different sports. From here, Coaches can perform a variety of actions with their SPT’s, similar to coaching your own team or managing your Fantasy roster. SPT’s function as a measure for any particular athlete’s performance. If the player performs well, a portion of the circulating SPT supply is burned. Similarly if the player performs poorly, a portion of the SPT circulating supply is minted. This way, an SPT will increase in price when the player performs well and price will decrease when the player has a bad game.

SPTs are similar to a synth on Synthetix for exposing Liquidity Providers to athlete performance. These are standard ERC20 tokens with custom minting and burning logic to reflect player performance. After connecting their wallet, Coaches can buy and exchange Players on the Trading Block to organize their Roster. The Trading Block can utilize the Uniswap AMM model which offers peer-to-peer liquidity provision. From here, we can gamify the protocol by adding Head to Head competitions, Leaderboards, and incentives.