Vether - a store of value, with properties of scarcity, high cost, and a fixed release schedule. The platform mimics the characteristics of Bitcoin, where miners compete to spend capital, acquire newly minted coins and chase ever-decreasing margins. Instead of spending capital, participants compete to buy it, destroying capital within the network. As a result, anyone can purchase Vether units.
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How does Vether work?
When creating a new monetary asset, the key problem is the issue of distribution - how to distribute it properly among a wide range of participants, so that anyone could purchase it. All fixed Bitcoin deliveries have a fair and at cost distribution, but Ethereum and its tokens have not gone through the same process.
Vether is designed to return missing Ethereum real estate assets, collected in a single asset with a fixed supply, that are thrown away in such a way that they constantly absorb value while at the same time distributing fairly and at cost.
Platform economics
You can acquire Vether only by destroying an asset with existing value, such as Ether or ERC-20 tokens. All value is measured in units of ether, and the value of the token is determined in the liquidity pool markets. Tokens without a price have their own value, derived from the value of the gas, used to destroy them. By sending assets to an untrusted Ethereum address, they are destroying themselves. How does this happen:
| Issue period | Vether is auctioned at around 23.5 hours. 244 days make up 1 Era. The 12th epoch lasts 1064 days, and the total emission period is 10 years. Overlapping time periods ensure that Day and Era changes occur at different time periods and seasons around the world. Emission starts at 2048 per day, halving each Era. |
| Network fee | A small fee of 10 pips is charged for each Vether transaction, which is returned to the contract. These fees are accrued and will be paid only after the issuance period, 1 token per day. With a monetary rate of 1, sufficient electricity charges are levied for the first 10 years for an additional 30 years. At higher speeds, the fee acts as a deflationary force. |
Vether starts with a stock that doubles every Era to 2670 in 10 years. If Vether develops the market, half will function to reduce supply and increase value. This will solidify the Vether platform as a store of value. Thus, as long as there is economic activity, Vether can benefit from Ethereum-based assets on an ongoing basis.
Additional information
Many users use White paper platforms to learn more about the project. You can also use social media:
- Discord;
- Twitter channel.
Information about promotions and competitions of the platform often appears here. Check out their terms and conditions and participate.