The Splyt Core Foundation’s goal is to provide publicly accessible open-source solutions to alleviate the frictions in the ecommerce industry that facilitate oligopolistic environments. We believe this can be accomplished through a combination of the utilization of smart contracts, the security of blockchain, the token-economics of SATs, and a user-first mentality suitable to build network effects. Splyt Core Foundation is a non-profit entity because we recognize the importance of a non-partisanship overseer removed from profit-seeking pressures in reaching this goal.The Spl.yt system is designed to allow independent parties to pool resources for their mutual benefit. Foreseeable benefactors of the system include marketplaces who have increased exposure and revenue from share listings, co-owners of fractionally owned assets, and the buyers and sellers in ecommerce transactions. Legacy ecommerce models accomplish this by providing “middleman” services, such as affiliate marketing services, centralized rating systems, or trusted marketplaces. However, the rampant fraud and inefficiencies throughout the ecommerce industry due to the failures of these middlemen cause unnecessarily high purchase and transaction costs. Spl.yt’s smart contract blockchain backed protocols automate middleman functions, reducing the cost of virtually every transaction.

SATs are more than just a cryptocurrency because they can be adapted to meet unique user needs (such as, staking, burning, or value-pegging) in ways most other cryptocurrencies cannot. For example, SAT deposits encourage certain behaviors, such as trustworthy dispute resolution or larger spam disincentives than gas fees can provide. Token flexibility will also be necessary to implement evolving stability frameworks (such as, those used in Digix, Maker, or Gnosis) to ensure users are not exposed to market-risk while engaged with the ecosystem. Moreover, using an independent token allows for the community to adjust to unforeseen local threats without requiring a hardfork of the underlying blockchain protocol. Finally, SATs are preferable as a distinct instrument of value so that its value can fluctuate independent of systemic volatility similar to why consumers use US dollars to buy gas, bread, and stocks rather than trading directly between them.