May 18, 2024
THE SIPHER TOKEN MOVING FORWARD
As the new $ATHER token approaches the horizon as the sole ecosystem token powering the Ather Collective and its suite of products, it begs the question of what will happen to the $SIPHER token.
In this article, we cover what you need to know about what will happen with the $SIPHER token moving forward, and how the $ATHER token will take its place.
You can learn more about our vision for the $ATHER token in our introduction article.
Transitioning to $ATHER
The $SIPHER token will be migrating to the new $ATHER token. This means that the number of tokens held by $SIPHER holders at the time of migration will be proportionally converted into $ATHER. Ultimately this does not dilute current $SIPHER holders.
For example: If you held 10,000,000 $SIPHER (1% of the $SIPHER supply) at the time of migration, the number of $ATHER you receive after migrating will be equal to 1% of the $ATHER supply.
Why the change?
While $SIPHER was initially created to serve Sipher Odyssey as a single gaming experience, this does not align with our vision for an interconnected creative ecosystem spanning multiple products across gaming, entertainment, and AI.
$ATHER was created as the unifying token needed to realize our ambition. With this change, we are evolving from $SIPHER’s single-game model to $ATHER, which becomes the singular token that will govern and power an expanding collection of diverse products and experiences in the Ather Collective ecosystem.
In short, $ATHER represents the natural progression necessary to take our journey to the next level.
What are the $ATHER use cases?
$ATHER accrues value from the traditional and Web3 economies of all products within the Ather Collective’s umbrella. It enables interconnectivity across mediums and community governance, and it introduces deflationary mechanics. Get a teaser of what $ATHER offers in our introduction article.
As the ecosystem expands, benefits will flow back to the Ather Collective Vault and allow our community to help guide and shape the direction of our IPs and products.
Full details on $ATHER tokenomics including the token’s distribution, vesting schedule, and how the Ather Collective Vault plays a crucial role will be revealed in the coming weeks.
‘WEN’ and how?
The token migration is expected to happen when the $ATHER token launches, soon after the Play to Airdrop campaign.
For now, enjoy benefits such as bonus multipliers for holding $SIPHER throughout the Play to Airdrop campaign.
Stay tuned to our socials as we’ll be sharing detailed guides on the migration process closer to the $ATHER token launch!