OVERVIEW

The SpaCoin Network is developing a suite of Layer 3 applications with a protocol that promotes spa-specific marketing initiatives and the beauty industry as a whole. The first dApp will let spa owners get free access to a dashboard that enables them to create and update offers in the form of SpaCoin tokens that can be redeemed for services or for discounts. The SpaCoin Network will develop smart contracts by leveraging the Biconomy API for gasless transactions which will let spa owners purchase SpaCoin tokens without paying gas fees. This will simplify and expedite the onboarding of new spa owners to the platform. Another dApp will enable spa customers to transfer their SpaCoin tokens to digital wallets and convert them into other cryptocurrencies.

While SpaCoin tokens can be bought and sold by the general public, the SpaCoin Network has been primarily developed to empower spa owners with the ability to create promotions on demand and to reward their most loyal customers. Coupons used at retail establishments normally expire, but the SpaCoin tokens themselves will never expire.

The SpaCoin Network was initially launched with 100,000,000 ERC-20 tokens issued on the proven Polygon Network. 10,000,000 of these SpaCoin tokens have been assigned to the SpaCoin Foundation whose mission to support the community of spa owners, to promote the SpaCoin brand through press releases, social media, and trade shows and to raise awareness for social equity and sustainability initiatives. 10,000,000 of these SpaCoin tokens have been assigned to SpaCoin Labs to support the development of Layer 3 applications.

All SpaCoin tokens will be bought and sold at market to spa owners and customers. There will be no pre-sales with par value being $0.01 per token. The SpaCoin Foundation will place up to 1,000,000 SpaCoin tokens into liquidity pools in order to earn fees that will refill the Biconomy gas tank and earmarked for gasless transactions.

The SpaCoin Network is a decentralized version of a private blockchain originally developed by Nemomedia Corporation for its own chain of nail salons. It was founded by software entrepreneur Wing Yu. The SpaCoin Foundation is headed by publisher-entrepreneur Rosalidia Dubon who has brought together a team of blockchain experts and cryptocurrency aficionados working for spas, hotels and software companies in California to launch a dozen initiatives to support the SpaCoin Foundation and SpaCoin Labs.

Additional Features

If you're a spa owner and you'd like to apply to join the SpaCoin Network, please fill out this form. We'd love to hear from you if you have any questions or feedback.