🪙The VT Token

$VT is an ERC-20 utility token deployed on Sonic, acting as one of the gateways to the VT platform and its services.

These include: VT Competitions and any additional gaming services / products.

The only way to acquire $VT is to purchase it at market price from any exchange that supports ERC-20 compatible tokens on Sonic.

$VT can never be minted; the total max supply stands.

$VT is equipped with a burn function, but this is currently not in use.

Transactions which take place on the VT platform, regardless of the currency ( Fiat / Cryptocurrencies ) which is used, a percentage of this transaction will be added to the initial liquidity pool of VT-WFTM.

Token Utility on Mint:

You benefit from VT competition completion on the platform. Your holdings increase in value.

You can use your VT tokens for VT Products and Services. On Day 1 this will be an array of competitions.

Using VT allows users to gain access to discounts and rewards.

For example, a customer could use VT in our McLaren example for 25% discount and be entered into another competition of their choice free of charge.

VT Rewards system which will open on Day 1 where users can obtain further discounts, exclusive competitions etc.

Fiat users won’t have access to these discounts and rewards. This will push for aggressive fiat customer conversion, not only to VT but to the Sonic Ecosystem. PLANNED:

Shortly after mint you’ll also have the more traditional utility available such as farming and staking. We’re pushing to have these options available to you during the staking period so your vested tokens aren’t dormant assets.

What happens to the VT after the competition?

To be very clear on this - The team isn’t going to sell the VT.

All VT generated will sit in a separated reserve where it’ll be sent through governance.

A quarterly forum will be held with holders to vote on how they would like the VT to be utilized.

Such as, A burn, further partnerships and marketing etc.

Voting options will be focused around what provides the highest value to holders.

$VT CA: <TBC in future>