VIDT usage and more
This live usage dashboard shows relevant data concerning the usage and valuation of VIDT.
Hover over underscored numbers to read the details.
Using multiple blockchains is the most secure way to store read-only data which is publicly accessible.
The VIDT token simplifies the payment of (highly dynamic) transaction fees on multiple blockchains.
VIDT transactions contain both the file fingerprint and the validation fee in VIDT.
All fees are sent to the Validation Wallet by our smart contract, which also stores and indexes the fingerprints for quick reference. This is the core of our validation and verification services and the base of our tokenomics.
In short, 10% of tokens spent on validations is bought back at exchanges and 20% is burned.
Goal of our tokenomics is to align the incentives for V-ID and V-ID investors. The VIDT token provides transparency to our investors thanks to which V-ID operates without debt capital.
The increased burns are compensation for dividend, which would classify the token as a security and prevent exchange listings.
In 2020, investors can opt to exchange VIDT for the VIDS security token which represents equity in V-ID.
Simply put, all V-ID validation services require a VIDT fee only.
New use cases which are in the works (B2C, IOT) would be overly complex and inefficient without the use of the VIDT token.
More on this and on the use of validation and verification API’s is available in our updated roadmap.
V-ID provides all client wallets with Ethereum for gas fees. Validation services in person and transaction fees (for optional other blockchains) are compensated in a VIDT payment to the Validation Wallet.
V-ID clients spotlight
Last May, the V-ID team bought back a large portion of VIDT from a whale. We are giving away 500K VIDT to participants of the Learn & Earn programme. The programme starts in September, with limited slots, so sign up now to secure your slot!