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Binance Smart Chian Contract: 0xE34e3eDBc2964ac2B93034db83A9dc47A4E6E8Af
VesTallyToken
VesTallyToken(VTT) is a deflationary, self reflecting token designed to become scarcer over time. Holders of VTT have exclusive weighted voting rights which will determine the course of action for proposal strategies and charitable initiatives. Weighted blockchain voting gives holders a voice in the development of VTT on the Binance Smart Chain. Honest liquidity pool distribution, transparent smart contract functionality, rewarding tokenomics, and token governance make VTT the ideal token to buy, hold, trade, and utilize during 2022 and on. The first VTT proposal initiative led to the development of the Vestally Block Chain utilizing the Cosmos SDK.
VTT Core Team
Jonathan Urbanski
Lead Developer
James Porada
Operations VP
Todd Benn
Equity VP
Jeff Franckowiak
Marketing
Joe Hebert
Financial Operations
Mark Resnick
DeveloperBinance BLOCKCHAIN
VesTallyToken
Name | VesTallyToken |
Type | BEP20 |
Symbol: | VTT |
Platform: | Binance SmartChain |
Liquidity & PreSale: | 624,000,000,000,000 VTT |
Audit: | FreshCoins.IO |
TOKENOMICS | |
Holder Rewards | 5% |
Project Proposal Strategies | 4% |
Burn | 2% |
Charity & Social Actions | 1% |
Marketing & Logistics | 1% |
How to Swap VTT
General description
VesTallyToken is unique among deflationary coins that utilize tokenomics as the VTT contract does not utilize the liquidity pool to reward developers in an unbalanced manner. (all holders are treated equally). VTT maintains a balanced X*Y=K liquidity pool and empowers token holders with voting rights.
Further, the first successful VTT proposal from the community set the initiative to develop Vestally’s own blockchain. The developers utilized The Cosmos SDK to build out this blockchain. The Cosmos SDK is an open-source framework for building multi-asset public Proof-of-Stake blockchains. Blockchains built with the Cosmos SDK are generally referred to as application-specific blockchains.
The goal of the Cosmos SDK is to allow developers to easily create custom blockchains from scratch that can natively interoperate with other blockchains. VestallyToken’s aim to bring mainstream governance and staked voting proposals to the masses aligns well with the Cosmos SDK which solves a major development paradigm in the blockchain world today: virtual-machine blockchains like Ethereum, where development generally revolves around building decentralized applications on top of an existing blockchain as a set of smart contracts. While smart contracts can be very good for some use cases like single-use applications, they often fall short for building complex decentralized platforms. More generally, smart contracts can be limiting in terms of flexibility, sovereignty and performance.
Application-specific blockchains like the newly developed Vestally Blockchain offer a radically different development paradigm than virtual-machine blockchains. An application-specific blockchain is a blockchain customized to operate a single application: developers have all the freedom to make the design decisions required for the application to run optimally. They can also provide better sovereignty, security and performance.
The Cosmos SDK is the most advanced framework for building custom application-specific blockchains today. Here are a few reasons why the Vestally dev’s utilized the Cosmos SDk for the vestally blockchain.
The default consensus engine available within the Cosmos SDK is Tendermint Core. Tendermint is the most mature BFT consensus engine in existence. It is widely used across the industry and is considered the gold standard consensus engine for building Proof-of-Stake systems.
The Cosmos SDK is open-source and designed to make it easy to build blockchains out of composable modules. As the ecosystem of open-source Cosmos SDK modules grows, it will become increasingly easier to build complex decentralized platforms with it.
The Cosmos SDK is inspired by capabilities-based security, and informed by years of wrestling with blockchain state-machines. This makes the Cosmos SDK a very secure environment to build blockchains.
Most importantly, the Cosmos SDK has already been used to build many application-specific blockchains that are already in production. Among others, we can cite Cosmos Hub, IRIS Hub, Binance Chain, Terra, and Kava.
Functions of tokens
- Project account is viewable on the application dashboard.
- 70% Liquidity pool will be locked through Pinksale
- Utilizes a deflationary Token to hedge $USD inflation
- Utilizes tokenomics to reward holders.
- Utilizes tokenomics for proposal strategies and charitable initiatives.
- Token burning to increase liquidity pool valuation.
- Utility within the website dashboard for:
- Voting
- Account holdings reports
$VTT Timeline
Road Map
September 2021
Develop Smart Contract for VTT
October 2021
Develop Smart Contract for Elections
November 2021
Develop DevTest Website
DevTest website utilized for initial project setup for templating and planning
December 2021
Develop Dapp for Dashboard Proposals
VTT dashboard allows holders to authenticate with MetaMask and vote on project proposals. Voting outcomes are recording on the blockchain and transparantly acted upon.
January 2022
Develop Dapp for Dashboard Transparancy
January 2022
Develop dapp for account transparency
VTT Dashboard shows account address holdings of Token and NFTs
January 2022
Finalize Contract Testing on BSC Testnet
January 2022
Launch Production WebSite
January 2022
Begin marketing initiative w/ Discord, Twitter, Telegram, Facebook.
January 2022
Finalize contract audit (mid January)
January 2022
Marketing and Social Media Announcements
January 2022
Finalize Pre-Sale
February 2022
Deploy Pink Sale
March 2022
First vote complete - Blockchain development underway.
Q2 2022
Develop Test Chain for Vestally Blockchain
Test chain for testing Cosmos SDK build out
Q2 2022 - Q3 2022
Blockchain DAPP Development and Next Steps
Continue dapp and dashboard development, Site Improvements / Community Engagement, Non Partisan Charity Vote, chain testing and staking, cross reference BNB token to cosmos sdk chain
What makes VesTallyToken Special?
VesTallyToken Rewards, Donates, and Burns.
There are various strategies in place to decrease the supply of VestTallyToken over time. The deflationary nature of the token hedges against inflation and helps individual holdings become more valuable with stronger future voting weights.
4% of every transaction is deposited into the $VTT project address. Quarterly voting will occur to determine which proposal strategies will be utilized.
Holders determine 6 month, 1 year, and 5 year strategies for VTT and dapp development. When the term is complete holders will vote via the block chain on the proposal strategies to determine strategy outcome. The project account holdings are viewable to holders utilizing the $VTT dashboard linked from the contract homepage. All project wallets are posted in the dashboard and viewable on BSCScan.
The VTT tokenomics help keep voting equitable. Typically smartcontract logic is necessary to ensure fair voting rights; VTT tokenomics alone discourages voters from transferring holdings for additional voting opportunities. The tokenomic tax rate incurred by transferring for the sole purpose of gaining multiple voting opportunities discourages holders from attempting to “game the system” and is an elegant approach to fair governance.
Further, the first successful VTT proposal from the community set the initiative to develop Vestally’s own blockchain, with work underway to release the blockchain by the end of Q3 2022
