Hello Vivid supporters! We have been hard at work the past several months as we continue application and platform development, while refining our roadmap and strategy for the future.
A big part of our mission centers around liberating cryptocurrency and trading focused content from the grips of sponsored posts, advertising, and otherwise questionable articles. Bringing the power of the community front and center, allowing their voices and votes to push the peer-proven material to the top, and ultimately empower users to make more informed trading decisions. Make great content, people vote on it, and you get paid in Vivid.
The bedrock of this system of vote based rewards, means we need a blockchain that allows for ultra low cost transactions, and super fast payments to be made to our creators. Especially as we scale our user base, and expand functionality of how Vivid is utilized these items become more important than ever.
This is why we are introducing our own community powered blockchain, Vivid Coin.
Vivid Coin is a private blockchain that is not built on some of the slower and more congested platforms such as Ethereum, but is our own chain backed by community supporters running nodes to secure the network, and facilitate transactions – all at an average cost of $0.00004 per transaction!
What does this mean for you as a token holder?
A few key items to note:
1. Because we removed a ‘0’ from the total supply, all current tokens will be swapped 10:1. So if you have 1000 Old Vivid Tokens, you will receive 100 New Vivid Coins.
2. Everyone who is a new Vivid Coin holder, will be able to stake coins in their wallets and generate new coins for assisting the network. Those with 10,000 New Vivid Coins can choose to run a Masternode, in which the rewards will be greater for their efforts in securing the Vivid Blockchain. Instructions for these processes will be released over this next week.
3. We will be releasing further instructions on installing and backing up the Vivid Core Wallet available for OSX, Windows, and Linux. As well as instructions on how to add your Vivid Wallet address to your user account in the portal, so you may claim your all new Vivid Coins.
These are very exciting times as we continue to develop the Vivid Ecosystem and secure a better trading future for all. Any questions please reach out to the community management team on our Telegram channel!
– Team Vivid
|Max Supply (25 Years)||30,000,000|
|Rewards||POS + MN|
|Reward Distribution||80% MN, 20% POS|
|Block Time||60 Seconds|
|Block Reward||5 VIVID|
|Year 1-5 % Reduction||10%|
|Year 6-25 % Reduction||5%|
|Masternode Collateral||10,000 VIVID|