🪙Tokens
Last updated
Last updated
Tokens within VERV ecosystem are an essential bloodstream that powers the mechanism.
All data that is stored in the tokens and is considered to be sensitive (personal information, commercial information, other) will be encrypted before broadcasting to the blockchain. User have full control on whom, when, and for how long can view the information from the token. You can think about it as a digital documents, where you control your data on it. And yes, we do have monetization mechanics in it — you can grant your personal data directly to the enterprises, who are interested in it. Revoking access is as easy as possible — just click the button, and your data is not shared anymore.
VRV (EIP-20) — is the main token of the ecosystem. It's utility and required to exchange of goods and services within VERV ecosystem. In some ideal futuristic paradigm, 1 VRV aims to be equal to the median amount that any citizen of DAO can buy 1 kWh of electricity energy in his location. It will be the price of VRV token on exchange, where anyone can request to claim VRV for energy.
VRV token will go through the line of transformations and temporary contracts (instead of Proxy pattern and Upgradeable contracts). We are trying to keep things as simple as possible (KISS principle), so switching the contract with consensus is the better decision, than using Upgradeable contracts. All token holders (except super-admin/root user/contract owner balances) are moved to the next contract 1:1, but Investors will need to manually mint them to use.
VXP (ERC-20) is a token for rewards in marketing and gamification activities. This token is minted during the fulfillment of tasks on DAO's Mission Control and can be used in other activities within DAO.
CitPass (SBT) is the temporary token that gives users the option to get the role of Citizen in DAO (in case of eligibility). Moreover, this token can be traded on secondaries' marketplace — you can sell or gift it to any user.
CertPass (SBT) is the permanent token that verifies competency, skills, and knowledge of certain people. They are issued by the Protocol Enforcement Node for now, but later will be transited to another entity. During certification, VERV confirms that this person is really professional in the subject area and issues a unique SBT-token. It can be used both inside and outside the VERV ecosystem and holds personal data about the user.
FAITH, TRUST, RESPECT (SBT) are the tokens that provide governance and authority to the holders (Citizens, Residents, Aliens). They are individually based and converted from CitPass and its alternatives for other roles. Each role can vote on topics of the specific categories and parameters. So it's crucial to have one of them to take participation in the direction and movement of the whole DAO and take part in the voting process.
TFPSA, Tokenized Promise (TP) (EIP-404) are the tokens that confirm that the user holding share of tokenized promise of dividing for future profit of some entity. They are issued by Nodes via the Venture Builder and TFPSA Authorization, and available to a broad audience of users. All terms & conditions are published inside the promise and VERV mediates the contents (for verified promises).
Booster Tokens (EIP-721) are special tokens that increase the weight of your voice. They are one-time boosters that you can purchase from the DAO. The full rules of interaction will be presented later.
Voice of the Millions (VoM). This is a rating token which is minted based individually based on the user activity. If user is active in management, governance, he will get more Voice of the Millions. These tokens can be only applied to other user. Where can it be used? For instance, the rating of politicians or celebrities. Tokens will expire from time, so the audience should be genuinely interested in providing fresh support for them. For sending your VoM to other people, you will be gifted with VXP. So, now the system will genuinely show real rating of support and acceptance from people.
VoM is minted daily — 1 token per citizen daily. It expires in 24 hours. Citizens can mint VoM directly to the
