SV joins Jarod in our fourth Town Hall with the Vesq community on Discord with a final update on Vesq 2.0. He reveals that everything for Vesq 2.0 has been built out, both the contracts & UI. However, deployment of the different features will take place in phases during the month of March. He also shares details locking, revenue generation, paid-marketing, NFTs, bonds, max cap, & more! LFG, Vesq 2.0!
Transcript by Decise (中文翻译)
Introductory update from SV (Syed- founder of Vesq):
SV: Let’s start with updates for where we are with Vesq 2.0, what we are doing, and what is expected to come. Let’s start with Vesq 2.0. The Staking 2.0 lockers are coming within an estimated 5–6 days. There’re a few things we have to wait for before publishing the contracts, like peer reviews and auditing. Everything is built out and ready to be pushed out otherwise. The UI, contracts, everything is ready and built, just waiting to make sure everything is secure.
2.0 will happen in phases, first you will lock your tokens and you will be receiving dual rewards in those lockers in VSQ and MATIC, not just VSQ. You will be receiving additional rewards from other sources outside the lockers, to ensure those that lock for long periods will have liquid assets coming in too. These you will be able to claim outside the locker and add to your wallet to use however you like. These rewards will be in terms of USDC, FXS, CRV and all these different governance tokens and stable coin rewards that we will distribute. These will be instantly liquid and withdrawable, only locked tokens will be VSQ and MATIC.
This will give more flexibility to our users who want to make an income regularly while also holding out for long-term rewards. Think of the locked portion as a savings account, and think of the withdrawable rewards as an investment banking account. All rewards will be receivable in real time, viewable in real time, and withdrawable any time.
I’ve been working on many different things lately, one of which is revenue, and sources of revenue. We want to get Vesq as much revenue as possible, not just VSQ related revenue, but stablecoin revenue and any other sources we manage to find with Vesq, will be rewarded to our users. We expect you will earn fairly large amounts, and hope to make investing in VSQ safer with these rewards even against price falls or potential losses. That’s a large focus we’ve been looking at: revenue generation, in order to make VSQ stable to start pumping. When the pump happens we want to make sure we aren’t affected by dumpers, using this additional revenue to cover any potential losses with that.
Other than this, I’ve been working with Polygon closely. I don’t think anyone caught the alpha that has been up there for about a week.
Aside from that, we have NFTs coming out, the dashboard UI for the treasury is being worked on, to allow everyone to view the activity and results and earnings of the treasury. Vesq 2.0 is going to be considered fully launched within this month, starting with lockers and revenue first. After that, we will slowly re-add bonds. Bonds will not come with a discount anymore, as we are capping VSQ. However, there will be an extra benefit instead, and you will get extra tokens as a dual reward bond, another exciting thing coming!
As I said earlier, I am working with Polygon, we have a few projects coming up, and Vesq will be earning revenue from these projects as well. These projects are top TOP secret, not even Jarod knows, I can’t tell anyone. Slowly and surely these will come out and we will push these too. These will be top projects that Vesq will be a part of, and they will be expected to generate a lot of revenue in the term of millions of dollars of revenue a month, so it will be amazing for our users to receive that too. We’ve been working day and night on these plans for different ways to make revenue.
Our latest partner Sphere Finance, top team, great guy Sim (Founder of Sphere Finance). I love what they’re doing and I’m a supporter. Their partnership looks promising and our users were able to get whitelisted as well. Expect a lot of these kinds of things, where these projects will come to us and Vesq will play an integral part in these new projects coming out, giving our users the chance to join them very early too. Vesq will be able to give access to these projects that have limited access to the vast majority.
Side note: Lending and borrowing is also ready, but not going to rush it out yet.
I’ve been asked, but personally I don’t make anything as far as an income from Vesq. I haven’t sold any VSQ. Everything we are paying for is coming out of my pocket even the 2000 USDC giveaway we are about to do. I’m incredibly bullish on this project, and I’m ready to wait 5 years before I even make a penny, as I know what we are capable of doing looking at the back end of everything.
Question 1 (Jarod): Are we going to redo or relaunch our LP (Liquidity Pool)?
-SV: Yes, there’s talks of redoing the LP, but just before we do it we will talk more about it at another time.
Q2 (J): What about the Diamond Hand NFTs?
-SV: Snapshot has already been taken. The NFTs will be made and tied into Vesq 2.0. They will be distributed just before we release 2.0.
-Jarod: what about the other ones, like the Server Boosters (Discord Nitro/Server Boost), Diamond Hand, Genesis Dao, OG members?
-SV: Yep.
-Jarod: Do the effects of the NFTs stack?
-SV: Yes, they will, they will have various roles. If however one NFT has the same exact role of another. They will replace it, but otherwise they will stack and be usable together.
-Jarod: Do they get burnt when used?
-SV: No, you have them for life, aside from the Server Booster NFT, those will be like a monthly subscription.
Q3 (SV- reading chat): About VC (Venture Capitalists), how much VSQ tokens will they have in total supply? When can we know their names to search their previous investments?
-SV: That info will be disclosed after we go through with the VC onboarding process, I cannot reveal that information yet. It won’t be diluting any of our own VSQ holders right now.
Q4 (SV- reading chat): Will there be any changes to treasury management before 2.0?
-SV: No, currently treasury management is not active while we are moving from Vesq 1.0 to Vesq 2.0.
Q5 (SV- reading chat): Is there any progress for the dashboard for the treasury, or will the one made in Dune Analytics work?
-SV: No, we won’t be using Dune anymore. It will be our own dashboard. It’s made by another team we brought in. It will be similar to the one Olympus has brought in to use on their front end. All the treasury management and analytics will be on this dashboard.
Q6 (J): What will prevent dumpers from selling at the new LP price?
-SV: The lock. It’s nearly all going to be locked. You can lock it for maybe 5 days but you won’t get much rewards, but for the initial phase we will have a minimal lock time as a variable, which might be something along the lines of 30 days.
During those 30 days, we will do a lot of buy pressure related actions: marketing, co-marketing, articles, spaces, and podcasts just to bring in more outside buy pressure to limit the effect of sales. We don’t want to limit actual people selling or who can sell or blacklisting people. The LP being $26 USD is not yet confirmed, but all calculations are being done.
Q7 (J): Since Staking 2.0 is coming first, will we have to unstake or do anything else?
-SV: You will have to lock up your sVSQ into the locker contract, but that will be self explanatory and easy to deal with on the new UI.
Q8 (J): If someone stakes for 3 years and they want to unlock, will there be any way for them to do that?
-SV: No, you can’t. Once it’s locked it’s locked, until the time period is over. After the time is up, all contents will be withdrawable.
-Jarod: That comes with voting privileges as well, right?
-SV: Yes.
-Jarod: So will it have a decaying feature like QiDAO does?
-SV: No it does not. No decaying features.
-Jarod: What if I have my locked sVSQ inside a lending platform like market.xyz, took a loan out on it, then it unlocks while inside the collateral for the loan?
-SV: To unlock, it won’t unlock until you press claim. You press the claim button and that’s when you receive rewards, so it won’t be able to unlock automatically.
-Jarod: So the APY just stops?
-SV: Yeah you won’t earn anything after the time period is up.
Q9 (J): Will the NFT’s like Diamond Hands be transferrable or sellable?
-SV: No. Diamond Hand and Server Booster will not be transferrable or sellable. There will be certain things in the future that will be transferrable and sellable. There will be more info on this in the future, no definitive answer right now.
Q10 (J): Will we still receive MATIC with VSQ if we choose to lock for less than 6 months?
-SV: Yes you still earn both rewards no matter the period you lock for. VSQ, MATIC, other rewards, all included, you will just receive less if you lock for lesser time periods.
Q11 (J): When will the new UI be up and ready?
-SV: It’s coming with Vesq 2.0, as soon as it launches officially, the new UI will be included with it.
Q12 (J): Many large whales exited in January, are any whales coming back with Vesq 2.0?
-SV: Of course. I’m in contact with a few of them personally, new and old.
Q13 (J): What will be the timeline for the different aspects of Vesq 2.0?
-SV: We will have a full rollout of Vesq 2.0 within this month.We just have to make sure security is on point, that is the main factor. These contracts are new and we want to make sure everyone’s funds will be secure. To this day we have suffered no security breaches, and we want that to continue.
Q14 (J): Can you tell us anything about combining treasury strategies with Sphere?
-SV: That is something we will have to discuss later, it is related more to the Polygon Alliance and that’s too much for me to reveal. It’s not related at all to Vesq 2.0.
Q15 (J): When we lock our tokens, what can we remove as revenue?
-SV: All coins or tokens aside from MATIC and VSQ can be claimed and used how you like, whenever you like. They will all be claimable on the new UI, aside from FPI, that will be airdropped to your wallet automatically.
Q16 (J): What are the additional rewards on bonding?
-SV: So bonds will have no discounts anymore since we are capping VSQ. With that happening, bonds will change into a dual reward system as well in the form of VSQ and MATIC.
Q17 (J): What will be the total supply cap?
-SV: It will be about 10 million VSQ.
Q18 (J): How and by what proportion is MATIC invested in Vesq 2.0? Any numbers in projects, investors, capital, wallets?
-SV: Vesq and Polygon are like two things in the same hand, we’re very intertwined with one another. They’re very invested with everything that we do, whatever the project, investor, or capital. I have been doing various things for Polygon, working on revenue, events, biz-dev, even advisory capacity. Take LM 2.0 for example. Vesq is building the full suite for that, everything will be built and maintained by Vesq as well.
Q19 (J): What kind of rewards will the MATIC be in? Wrapped MATIC?
-SV: Yes, WMATIC, or wrapped MATIC.
Q20 (J): Are there any investors of Polygon who are also interested in Vesq?
-SV: Yes, there are.
Q21 (J): How many projects are interested or confirmed to use Vesq for their liquidity?
-SV: Approximately 20–30.
Q22 (J): Can you add to your locker?
-SV: Yes, you can, but you will not be able to take out. You will receive the additional reward for what you put in from that point forward. It won’t reset, nor will it unlock at a different time. The rewards will just be calculated differently with the new amount. Say today, the APY is 10,000% for a 3 month lock. You deposit 10 days later, and it’s still 10,000% APY, but the total is now different. So you earn 10,000% APY still, but now with the full total.
Q23 (J): Is there any expectation about how many rewards there will be from VSQ and MATIC?
-SV: No, there isn’t any expectations but it will be a nice amount. That’s all I can say. I can’t tell you that you will be a millionaire tomorrow. Depends how many users there are, how much is locked, how long you’re locked for, and then rewards are pro-rata. A lot of calculations for that.
Q24 (J): Will there be any tax on locking, claiming, or withdrawing?
-SV: No, I don’t want to tax anyone. I hate taxes! If the community decides in the future then that can be a thing, but as it is now, the way we are building, there will be no tax.
Q25 (Sim — Sphere Finance): Can you choose the length you lock? Does the power degrade over time as it unlocks?
-SV: Yes, yes.
-Sim: I had a suggestion, we can work on something to have people re-lock lockers every time right?
-SV: Yeah we can look into that
Q26 (Sim): Vesq was planning to launch (9, 9), is there still plans for that?
-SV: Yes, it’s coming, not being implemented just yet though.
Q27 (Sim): Will Vesq bring Curve to Polygon still?
-SV: Yes.
Q29 (SV): Will there be a new whitepaper explaining the upcoming Vesq 2.0 info?
-SV: Yes there is a new mandate coming out explaining everything, for everyone to easily understand.
Q30 (SV): 10,000,000 as a total cap from 300,000 is more than a 30x increase, won’t that dilute the initial investors investments?
-SV: No, it won’t with our plans in the future. With our large plans, we will need that amount of VSQ to be created. After it’s reached the cap we will have buybacks and burns to have deflationary movements towards making VSQ more scarce.
Q31 (SV): Besides sVSQ autocompounding while staking, is the reward token MATIC included in the APY?
-SV: The sVSQ and MATIC are two different APYs. They will calculate differently, while still bundled in the same locker. It will show in the UI what portions are sVSQ and what portions are MATIC.
Q32 (SV): How long do you have to sleep each day?
-SV: Three to four hours is more than enough for me right now, I’ve got so many things going on in my mind!
Q33 (SV): Will the launchpad start hand in hand with the Vesq 2.0 rollout or will it come later? Also if it’s getting rolled out hand in hand do you have any startups coming along with it from start?
-SV: It will come in at a future date but we do already have a few startups that are very interested. They’re going to be signing up to join our initial launchpad launch.
Q34 (SV): In a scenario of a 3 year lock and there is a bank run or brutal market crash, what happens to the locked VSQ if VSQ price drops below backing price?
-SV: It’s all really the same as it has always been. You as the user need to calculate your risks. We don’t believe a bank run will really be viable or easy to do with us switching to being a deflationary token. The market can change at any time, as it’s always been. If that happens the value of the locker will simply be less. You still will not be able to open it at that time. That’s something that we cannot control and won’t try to, so that will be something the user will have to risk manage themselves, and we can not give advice on that.
Q35 (SV): Just to be clear, if you add to your locker will it reset the timer or no?
-SV: No, each time something is added a new reward calculation will be made at that point, and the timer will continue on its normal predetermined path, unlocked on the same original date.
Q36 (SV): It seems to me, the rewards are pretty uncertain. sVSQ and MATIC will be predictable.
-SV: sVSQ and MATIC will be the standard reward, we don’t consider it your actual reward. The reward is the extras on top of that. There will be terms, sVSQ has a term, MATIC has a term, and you will know how much you will get. Although APY is variable, you’ll be updated on the site analytics section about how much you will get. Of course the longer you lock, the higher the APY, and the NFTs you hold will also be taken into consideration.
Q37 (SV): What is the timing on starting the community DAO?
-SV: That will commence as we progress the launch of Vesq 2.0, we will start by setting up some teams that will be formed within Vesq to handle certain aspects of Vesq.
Q38 (J): As the locking term comes to an end. Is there also a decay in voting power when that happens?
-SV: As soon as the lock ends, the power is taken away.
-Jarod: So for the whole 3 years if it were a 3 year lock, it will always have the exact same APY, and voting power?
-SV: Well the APY is variable, but the voting will be the same until the last second of the lock
Q39 (SV): Is there a process for managing price if it falls below backing after Vesq 2.0 launch? Where are we with the AAVE relationship?
-SV: We will have some policies for that, for example if it falls below backing we will do some buybacks. We are steering away from the whole inflationary token side of things. The treasury will come into play more for the rewards rather than a reserve. We are still very tight with AAVE, and everything related to that.
Q40 (J): We haven’t talked much about Curve wars lately, any news on that?
-SV: Yes we have a lot of parties involved, Convex and so on. Have to make sure that everyone is being onboarded perfectly so we can start setting up rewards and so on. We have a lot of other wars to play also.
-Jarod: Curve is already on Polygon, so what will we be doing with it?
-SV: The actual wars part of it. Convex and voting power and so on is not on Polygon, so that is what we will be bringing.
Q41 (Audience member): What about marketing aspect of the project? What is the main idea of how to bring new investors to us?
-SV: So there’s multiple aspects to marketing. There’s the general public marketing, for influencers, social media, so on. Then there’s targeting of other communities on Polygon, with things such as AMAs (Ask Me Anything), podcasts and twitter spaces.
Then there’s targeting institutions, the larger investors, I go out and speak to them, and have done so before in person, and give presentations. So we do have major plans for all these different things with multiple areas of marketing
Q42 (J): Will VSQ or sVSQ be airdropped as rewards on any other projects outside of Vesq? Like on Sphere?
-SV: Yes
Q43 (J): As we are locking our max cap, will we still be listed on CEX’s (Centralized Exchanges)?
-SV: Yes indeed we are, that’s one of our key features that will be pushed out with marketing.
Q44 (J): What is the current APY and where is it heading for Vesq 2.0?
-SV: The APY targets can be discussed just before Vesq 2.0 when certain parts are ready for release, to give you a better understanding as there are many other factors involved.
Q45 (J): There is a request from the community to give more frequent updates like “this contract is 50% done” or “VC onboarding is 50% completed”, can we have more updates like this?
-SV: You have to imagine how things are working on our side right now, we don’t have unlimited funds or endless supply of team members, or staff teams or departments in our organization. Only 24 hours in a day here, and 20 of those are working for Vesq and the 4 remaining are for sleep. We do and will provide updates when there is relevant information to give or if necessary information is needed. For now we just need you to be patient until we have a more streamlined way to organize things like this. There’s not many of us working on this, and all of our time is being taken up to do what we have to do.
You can tell my interaction with the community has been very low with my head down in work lately. We just ask that you understand our side of things, we want to ask that you be lenient on us about providing frequent updates. As you all know from the experience of being with us since our launch and before, you know who we are, and what we are capable of, and doing everything we can to push these things out.
-Jarod: I think this is where I can play a role, I’ll give you updates whenever I can, if I have them. Sometimes however when things are even 100% ready for us, it’s very hard to promise those things. Sometimes even at that point it can just fall through or fail in some way that we don’t expect, and we end up going back to the drawing board.
Q46 (J): Rewards will be redistributed as revenue and profits to VSQ holders, how will Vesq itself be earning this revenue?
-SV: Everything under Polygon will play a part in this. Everything you can imagine on Polygon is what we are going to be part of. Metaverse, gamefi, new projects, seed rounding, treasury strategies, and so on. There’s so many different things we will be a part of to earn this revenue. There’s a lot of side projects Polygon itself is working on, that Vesq will receive revenue from as well. There’s an absolutely immense amount of revenue that these will generate, and that’s primarily what I’ve been working on lately. There’s a lot of revenue coming from many many different sides.
-Jarod: What do you mean about metaverse and all that stuff that we will be earning the revenue from? What are we?
-SV: We as an entity, Vesq, will own a percentage of these projects that are coming out on Polygon. I’m trying to word things so I don’t say too much that I can’t say, but essentially we will be owners of a percentage of these projects coming to Polygon, and they will be directed to us through Polygon.
-Jarod: So Polygon will be directing them to us, interesting.
-SV: Think I said a bit too much there, but you can take it how you wish. Alpha or whatever.
Q47 (SV): If Vesq is redistributing rewards back to investors, is a portion kept to grow the treasury?
-SV: Yeah there will be a small portion kept for the treasury, but the vast majority will be distributed to holders for believing in us and sticking with us.
Q48 (J): About voting power, if you lock for a longer time will you have a multiplier to your voting power?
-SV: So for voting power you will need a minimum lock time. You can’t lock for 1 day and get voting power. There will be a minimum time lock, say 30 days maybe. The longer you lock for, you will get more voting power, so there is a sort of multiplier there, yes.
Q49 (J): If I have a total of 300 VSQs, can I lock 100 for 3 years, 100 for 2 years and 100 for 1 year? In the same address?
-SV: Yes, this is good strategy to hedge your risk management.
Q50 (J): For Vesq 2.0 will you partner with any influencers to market with, like altcoindaily or elliotrades, as they have a great reach to new investors?
-SV: If you have contact with them, or any influencers really, please do send them my way as we are open to plans to partner with these people. But yes we do have plans to market and partner with Youtubers and so on.
-Jarod: I think we can take this time to share some of the info and things we have been doing in the background. We are going to start some traditional PR, like articles and such on various crypto websites. You’ll see Vesq in an NFT game. You’ll see Vesq in TikTok, but yes if you have any contact with marketers or influencers please tell them about us or give us their information. Like Syed says we are a small team in Vesq, and that’s what the community is for right? We all want to go to the moon, so let’s take a part in that and do so, instead of just one of those communities that sits around passively waiting on the team to do everything.
Q51 (J): Are we still going to be doing OTC engine and OTC trades with Vesq 2.0?
-SV: Yes.
Q52 (J): Is there an audit planned for the new contracts for Vesq 2.0 before they’re rolled out?
-SV: Yes. ALWAYS. Everything will be audited because these are brand new contracts, but yes everything we push out will always be audited.
-Jarod: Are you going to mention who audits our contracts?
-SV: Paladin, they are our preferred partner for audits. I shouldn’t mention this, but I’ve gotten Paladin partnered with Polygon too, so they’re Polygon’s preferred audit partner now as well.
Q53 (J): What service exactly, are we as Vesq, going to provide?
-SV: Many different services. Development, advisory, multi-sig, liquidity, investments. There’s many different things we can provide to all these projects. That’s why Vesq is preferred and partnered with Polygon.
Jarod: And our launchpad doesn’t have to be viewed as just a launchpad for new projects or products, it can also be used as a bond. So if you have a project that is already active and wants to come to Polygon, Vesq is your go to.
Q54 (J): What will come first — Vesq 2.0 or onboarding VCs?
-SV: They are two separate things and whichever comes first will come first. For VC’s there is an insane amount of paperwork company related things to do, and plenty of things I’m still learning and going through. Still, Vesq 2.0 will likely happen first.
Q55 (J): Are you concerned about the market situation and the current events going on in Europe with the launch of Vesq 2.0 coming this month?
-SV: Firstly my thoughts go out to Ukraine and what’s going on there, to all the soldiers and civilians. I wish for their safety and have nothing but compassion and sympathy for them. Other than that, we keep things like this in mind for launch. It will likely have an impact but we don’t expect it to be a major impact. Unless things go severely drastic. As always things will be taken into consideration but we don’t have any plans to delay for now.
Q56 (J): Does Reflexer (Reflexer Labs) have any plans for FLX on Polygon?
-SV: I will start talking to them very soon for what we can do with our FLX, to be mindful of that, so that we have some usage.
Q57 (Audience Member): You mentioned you haven’t sold anything yet. So I want to know, what are you looking for in terms of performance metrics that you finally say “okay, it’s time to take something off the table”
-SV: So if you listened back when we started Vesq, my whole intention was not to make any money here. Thanks be to God that I am personally financially stable. I didn’t need to make this protocol to become a millionaire or billionaire or anything. It was more for a legacy. To show what I am capable of doing, what I do, and help as many people in the process as possible. This is much bigger to me than money, in life. To create something truly special and guide it. As long as I achieve this, no amount of money will make me happy.
Of course it might come to a time where I might take 1000 or 2000 VSQ to donate to a cause, but the main goal is not money for me. It’s only a representation of my share of Vesq itself. That’s it. I’m purely dedicated to doing things for our community and building something for our community to make sure they achieve their goals in life, which helps me achieve my goal. Working together with the team and the community to achieve this common goal is more special to me than to whatever money you could offer me. Building these relationships with Polygon and AAVE, and meeting all these people, some top top people, is worth more to me than even offering me a billion dollars. I’d rather take that. Because I know that in 10 years down the line I know what I will be able to achieve with that many people at my disposal. That is the answer I’ll give. I don’t want any money from Vesq, just want to create something unique and special for everyone to be a part of in DeFi.
Q57 (Audience Member): I had one more question, about regular updates. I’m a developer too and I know I’d rather do something other than updates. However just something simple would help, like if you dropped in on announcements channel in discord and said “hey guys, just letting you know we are still working on this and here’s where we pushed forward to. Have a nice week” That would just settle a lot of people’s nerves.
-SV: I understand, I have to agree with that and we will try to work towards that too.
Q58 (J): Will polygon allow another project to do whatever Vesq is doing for them right now or will there be a signed contract of some kind for some years with them?
-SV: There’s no formal signed contracts for that, but I have personal talks with these founders of Polygon, and they have assured me of this. But there’s no formal thing, they could choose to go to whoever they want, but I doubt they would.
Q59 (J): Will we invest part of our capital in new projects out of treasury and earn a percentage of the project itself?
-SV: Yes.
Q60 (J): How can we prevent dumping at launch of Vesq 2.0?
-SV: That’s a major point of Vesq 2.0 right? We were one of the rebase token projects, this move is part of limiting the dumping issues.
Q61 (J): Is Vesq aware of any other projects competing with us in our new direction, on this chain or others?
-SV: On this chain or any other chain I haven’t seen it or been made aware of it. If you have, let me know. But no, I haven’t seen anything like this.
Q62 (Audience member): Has there been any public contact from Polygon lately? We saw their mention of us in the LM 2.0 article and before, but there hasn’t been much talk about Vesq from their side. Will there be mentions of Vesq from their side for our launch?
-SV: It’s funny, they contacted me today, did I send you that message Jarod, about recognition?
-Jarod: Yeah you did. You might need to explain that
-SV: They will be pushing our recognition publicly a lot soon, but many parts of this is also dependent on 3rd parties, and I won’t be there pushing this out myself, it will be done from these other parties. When more parts are rolled out and ready, you’ll see more of these shout outs and mentions and recognition come out soon. It’s also a matter of when and how they’re done, but you’ll see these soon.
Q63 (Audience Member): Knowing the crypto space having a bunch of copycats, is there a way we could be secured against others who may want to take and use our model we are making?
-SV: It’s all open source. Wherever you go whether to AAVE or anywhere it’s all open source. This is what web 3 and blockchain is about, collaboration. If they can take my product on some other chain and make it into something better, then why not? It’s up to them. It’s like Olympus, they could have closed off everything and we’d have had to build it from scratch. We don’t want to be like that. We’re not an institution, or a centralized company, and we have nothing to hide. We want to be open as much as we can so people can learn and build on top of and do some exciting things in the world.
Q64 (J): Do we have a schedule for when we hit max cap?
-SV: We will bring up a max token cap schedule after the initial week of launching Vesq 2.0, to work out the emissions, and how many people it’s being inputting to.
Jarod: Max cap will be 10,000,000 (ten million) right?
-SV: Yes, with deflationary effects, eventually we might have it go down to 1,000,000 (one million) over time.
Q65 (SV): How will deflationary measures be done?
-SV: It will be done through transaction fee burns, and quarterly or monthly burns.
*This ends the Q and A section. The live giveaway took place shortly after with SV counting down. Four winners won 500 USDC in a random draw. One of the winners of 500 USDC came on live chat to announce they would donate their winnings directly to the Vesq Foundation. Congratulations to all winners!
