The document presented herein outlines the position of the VIZPLUS Initiative. Other participants of VIZ may have different or similar views on VIZ. None of the statements contained on this page constitute investment advice. Only you bear full responsibility for the decisions you make regarding your assets.
Important notice!
You do not need viz tokens if you do not understand what and who they are for, the concept backing them, and what you can do with them. If you treat VIZ as just ‘another crypto that is being pumped against the backdrop of general market growth’, you are sure to be disappointed. Do not invest in VIZ if you think so, buy some shitcoin instead and wait for it to fly off to the moon. If you belong to the adherents of such views, please, move along. Thank you.
- The third type of activity is social activity
- Vizonomics as the economics behind social activity
- The VIZ Blockchain as a decentralized vizonomics network
- Social capital as a non-financial instrument of influence
- Social interaction protocols as a common language used by applications
- Decentralized governance as an instrument ensuring protection from poor decision-making
- It is not money
- It is not a security
- It is not a check of a financial pyramid
- What is the viz token
- Tokens and money
- Turnover of liquid viz
- Base supply
- Frozen Tokens
- The influence of delegates on supply
Distribution of social capital in VIZ
- First phase: testing (2018-2020)
- Second phase: start of growth (2021-2023)
- Third phase: formation of a mature ecosystem (2024-2030)
In the modern world, people work to have some rest, and have rest to keep on working. People work, get paid a salary, spend it along with time and knowledge on food, housing, clothing, vehicles, some useful seminars and a trip to Turkey to keep healthy, strong and knowledgeable enough to keep on working better, getting more money for a little more tasty food, fancy clothes, expensive vehicles, education for their children, and a ticket to the Maldives.
Simply put, people receive resources from other people to spend them on themselves and receive more resources from others in return and so on up until death or retirement.
Both of these aspects of life - work and leisure - are served by the traditional economy. The key element of said economy is the voluntary equivalent exchange of the results of labor through monetary value.
In recent years, the third part of human life has seen active development in the form of social activities conducted across large and diverse groups of people. These actions include publications in social services, participation in ‘neighborly’, civil and political activities, engagement in online games and activities in communities supported by brands, involvement in amateur sports and interactive entertainment including voting for other participants, and much more.
This range of activities requires people to use the resources available to them, such as money, time, and knowledge, just as rest does. At the same time, these activities bring benefits or pleasure to other people, just as work. But the exchange of the results of such activities is not related to money and does not seek to be equivalent to it, as is the case in the traditional economy.
Example
Someone posts some funny cats on Instagram not because they get paid for it or they recuperate in this way to get ready for the next working day. Otherwise, they would be storing these pictures on their hard drives. Instead, they do it, because this user of Instagram gives pleasure, or even benefit, to other people and receives a positive reaction in return in the form of likes and thankful comments.
In turn, other people post memes about politicians on Twitter, bringing benefit and pleasure to the admirers of cats and politicians, receiving gratitude in return.
There is no equivalent exchange involved in this case. The user does not have to post three cats to look at one Trump meme. Neither Instagram nor Twitter has an exchange mechanism that sets the exchange rate for likes received for cats for the right to ogle at Trump memes.
Also, unlike money earned in the office, it is impossible to save up the likes one gets for the future in order to exchange them for some useful advice from a specialist on a forum on a financial website.
It turns out that the third type of social activity does not work in a traditional economy. The exchange of benefits is not equivalent, it is impossible to save up the gratitude received from other participants for the future, as well as convert it from one resource to another. As long as such activities were attributed to a small part of ‘leisure’, this state of affairs could be tolerated. Now, however, when social activity has become an inextricable part of the lives of hundreds of millions of people, it is time to take action.
VIZ is able to serve social activity, as it provides a universal tool for expressing and receiving non-financial gratitude, saves the received gratitude in the form of social capital and makes the use of accumulated social capital simple, intuitive and effective both online and offline.
VIZ is not part of the traditional economy, but an entire economy on its own – an economy of factors cannot be valued in monetary terms, an economy comprising the whole world of social connections and interactions. Let us consider some elements of this world.
Social Services. Social networks, messengers with public groups and channels, blog services, video hosting websites with user ratings, forums. Examples include Facebook, Twitter, YouTube, Telegram, VK, Medium.
Superapps. A large company creates or merges several services that cover completely different customer needs revolving around a single user account. In superapps, users can often rate or like services and service executors, as well as other users. Examples include WeChat, Yandex, Sber.
TV. Television offers a growing number of interactive programs in which viewers can at least choose the best participant in the show or competition, in their opinion, and at the most, take part in the development of the plot. Examples include Dancing with the Stars with spectator rating mechanics, Formula 1 with the selection of the best driver of the race, or the Eurovision Song Contest.
Ratings, systems for evaluating services and goods. The rating of goods and services by customers is available in almost every online store. There are many services that specialize in the collection and analysis of such estimates, such as Amazon, IMDB, Yandex Market, Booking.com.
Other examples include business loyalty programs, dating services, mutual technical support services, question answering services, wiki-like resources, and, finally, direct gratitude expressed by people to one another.
Any interaction between people in which there is a ‘like’, rating, thank you, or vote can be augmented with the help of VIZ and can be served by VIZ. This is the economics of the Third type of Activity, the economics of social activity, or simply vizonomics.
Just like the Bitcoin blockchain stores and transmits financial value like capital, the VIZ blockchain stores and transmits the social value that belongs to an individual user – represented by their social capital.
In-depth look at the framework of the VIZ blockchain
The VIZ blockchain is designed in such a way that only the owner of the social capital has access to its use, or the one to whom the owner transferred the right of such access in the form of the account keys. At the same time, there are three levels of access ranging from the first that results in virtually no problem in case of a compromise, to complete access, making the use of the blockchain more secure and convenient.
The fair DPoS Consensus Algorithm applied in the VIZ blockchain eliminates the possibility of success of a ‘51% attack’. To censor or fake transactions, attackers need to become delegates and get votes from the owners of about 90% of the social capital, while effectively dividing them among ‘their’ block-signing delegates. Such a concentration of votes is impossible in practice. Therefore, no single authority is able to censor users’ transactions, to allow or forbid them from doing anything that the code allows.
Transaction execution on the VIZ blockchain takes place about a minute after it is made, but in reality, applications usually only need one confirmation of the transaction by the top delegate, which takes no more than 6 seconds.
The total amount of transmitted data depends to a larger extent on the technical parameters of the nodes, or servers, of the blockchain than on its code. At the same time, the size of a single transaction is usually several tens of bytes. This means that thousands of ordinary transactions can be recorded in each block every 3 seconds.
There are no smart contracts in the VIZ blockchain, as all the logic of interactions with accounts is moved to the application level. They can either directly broadcast transactions to the blockchain, or ‘imitate’ transactions by periodically writing an updated state to the blockchain, thus saving considerable blockchain resources.
The VIZ blockchain is simple, flexible, fast, allows for a huge number of transactions to be processed, and is protected from attacks. The social capital accumulated by the user is securely stored and easy to use. The aspect of decentralization saves users from having to worry about the possibility of censoring rewards, while the transfer of the logic to the application level simplifies their generation.
Under the vizonomics model, the blockchain acts as an immutable and incorruptible ‘memory’ of all participants and a tool for using the data accumulated in said ‘memory’.
In addition, just as in the real world, the former merits of the participants of VIZ lose value over time. The constant limited supply of new tokens (10% per year) gradually reduces the influence of the established social capital on the distribution of rewards.
Users with a large amount of social capital, who have accumulated gratitude and a good attitude from others, have some advantages over so-called ‘no names’. Other users are more willing to render their services to such established heavyweights, or do something useful or pleasant without demanding direct payment. This is due to the higher value of the gratitude expressed by such users.
Example
It is enough for a popular blogger to express a hint that they would not mind a free tour in an unfamiliar city, and they will receive a few offers shortly. A successful athlete uses their status in the form of social capital to promote some political or civic views. An active participant in a Telegram chat, who has helped many beginners master a complex program, is more likely to receive an answer to a question off the topic of the chat than an unknown user who can simply be banned for off topic spam.
Digital social capital in VIZ makes the status of a person, or rather, an account, visible and transferable from one community to another. The large social capital in a VIZ means that its owner has brought a lot of benefit to other people either directly by their actions or by buying viz tokens, which have added value to some other user’s social capital.
The dependence of the amount of rewards on the amount of social capital makes it possible to differentiate the influence of some participants of VIZ on others. People are more willing to bring benefit or pleasure to the owner of large social capital, since they can give more rewards in gratitude for such benefit.
Despite the fact that viz tokens can be bought and sold, the exchange of benefits and rewards is not financial in nature, since the size of the reward is a matter of goodwill of the rewarding user, and not a pre-agreed amount of viz tokens. The interactions of the participants of VIZ in the ‘benefit-reward-benefit’ cycle take place outside the traditional economy and are not transactions.
Digital social capital can belong not only to a person, but also to an organization, a group of people or a bot. Accordingly, the impact of social capital can be divided into several categories of interaction:
p2p - a user influences other users with the help of rewards, thus stimulating them to bring them non-financial benefits;
p2b - a user influences or expresses an opinion about a business, a political organization, a public initiative, etc.;
b2p - an organization increases the social capital of users who benefit it (business rewards clients), or encourages them to act in a certain way (political party rewards supporters).
The logic and context of interaction between the participants of VIZ are moved to the application level, meaning there are no smart contracts in VIZ that are executed directly on the blockchain. However, there is an ‘in-between’ solution that uses the properties of both private applications and the ‘common’ blockchain: protocols.
In the VIZ blockchain, users can save not only strictly defined data like rewards, token transfers, etc., but also free text records. Such entries may have a structure designed by the application’s creator. If the creators of other applications agree to store some data with a given structure and read it for their own purposes, then such a structure becomes a common protocol for the records of a certain type.
Example
Let us consider that someone has developed a protocol that describes the profile of a participant of VIZ:
name: ‘...’; about:’....’; date_of_birth: ‘...’; gender: ‘...’; nationality: ‘...’; telegram: ‘...’; fb: ‘...’
Any application can thus save the data of its users in the blockchain in this format and read the data of both its own and any other users, displaying them in a convenient form.
Protocols can be very complex and contain a data structure for any application like social networks, instant messengers, custom tokens, and completely exotic solutions.
Example
VIZ contains a description of Whisper protocol designed for exchanging messages between users, in which an external observer will not be able to determine either the sender, or the addressee, or the content of the message, despite the fact that it is in the public blockchain.
In other words, the protocols in VIZ are standards for the exchange of information through the blockchain voluntarily adopted by application developers. Applications running on the same protocol have a common user base, but compete by offering users their own unique features, such as a convenient design, additional filtering and data processing, or the fundamental absence thereof, as well data analysis, etc.
Example
Some applications running on the protocol of a social network can block some accounts for their users for spam, pornography or Kremlin bots, while others, on the contrary, show only accounts allowed by a special algorithm. Others do not block anything, declaring freedom of speech. At the same time, a single ‘database’ of messages for all applications will be located in the blockchain.
Similar protocols created by different developers can complement each other or compete with each other, thus evolving the overall VIZ ecosystem.
One of the first ready-made and actively developing protocols in VIZ is a distributed social network protocol that involves no censorship. It provides the ability to publish and receive information without any control from anyone other than the user. A serverless social Readdle.Me network client also exists, which runs in the user’s browser and communicates directly with the blockchain without the mediation of any additional server.
VIZ does not and cannot have an owner, a majority shareholder, director or boss in any sense. But there is no anarchy either. The governance system is well balanced, as it has a group of participants elected in the literal sense, who make decisions, but the makeup of these participants, called ‘delegates’, is partially rotated every minute and can change quickly if their actions do not suit the needs of the owners of social capital.
To make key decisions related to changing the blockchain code, the consent of a minimum of 17 delegates is required, of which at least 7 must be among the top 11 elected. At the same time, the probability of participation in the vote for changing the code for delegates who are not from the top 11 directly depends on their position in the list of delegates. They must also have significant support from the owners of social capital. In other words, attackers who want to change the blockchain code against the will of ordinary Participants of VIZ must guarantee themselves a minimum of 7 places in the top and 10 places as close to the top as possible. The more – the better. To do this, they will need the support of about 90% of the social capital in the system, which seems extremely unlikely.
On the other hand, VIZ has an unusually flexible and voluminous system of technical and economic blockchain settings. Consensus is not required to regulate the current activity of the blockchain. The settings are set based on the median value of the parameters set by the delegates. Accordingly, delegates can quickly respond to the needs of the community by adjusting the parameters of the blockchain to the current situation.
The control system in VIZ is built based on the principle of taking into account the mistakes made by the creators of other blockchains, where decisions are made in a similar way. In VIZ, the largest participants can influence decisions by supporting delegates with their social capital who are ready to fulfill their wishes. But even the combined strength of several of the largest participants is not enough to take over the blockchain. And if they ever do manage to collect more than 90% of social capital in support of their decision, then this is no longer considered a takeover, but legitimate support.
Viz tokens are not a cryptocurrency, they are not coins, they are not digital currencies, and they are not a means of payment. Of course, like any crypto asset and any standard asset in the real world, viz tokens can be exchanged for something else by using them as a measure of value. Cigarettes, canned food, cast iron dumbbells, postage stamps, and bottles of vodka can be used in the same way. But the possibility of use does not turn all these assets into money in the general sense.
Viz tokens are needed for certain purposes in certain situations, and their theoretically possible function as a means of payment or intermediary in transactions is not their main purpose.
Viz tokens are not stocks, bonds, futures, options, or even CDS. In other words, they are not securities. Viz tokens are not issued by any organization, are not a share in a business or someone’s obligation, nor do they reflect the value of any other asset, and do not promise profits.
The initial distribution of viz tokens took place free of charge, at the goodwill of an unknown individual and was not associated with any obligations. All further monetary transactions with the tokens were not and will not be construed as supply. The parties to such transactions will only resell the existing digital asset to each other based on their intentions regarding the use of this asset.
There is no such thing as fundraising for investments in external assets and no income from such assets within the VIZ economy, so no one can promise any ‘payments’, ‘dividends’, ‘interest’, etc. to token holders.
VIZ does not have a ‘centralized authority’ that buys and sells tokens, setting their price. The price of the token, expressed in money or cryptocurrency, is determined exclusively in the course of private transactions of equal participants.
The tokens have a specific purpose, as they serve non-financial transactions between ecosystem participants.
Despite the fact that the VIZ ecosystem and vizonomics are outside the boundaries of conventional economics and conventional finance, it still needs a carrier to convey the main value of digital social capital. Viz tokens circulating in the VIZ blockchain act as such carriers.
The main function of viz tokens is to serve as a unit of measure for the digital social capital of the participants of VIZ.
A person’s height is measured in centimeters, their weight - in kilograms, their financial capital - in one way or another, their achievements in chess - in ELO rating points, and their social capital is measured in viz tokens. The token itself is not ‘backed’ by anything, it does not reflect the value of any other asset, and it is not a financial instrument.
Viz tokens exist in two forms - low-liquid in the form of social capital, and fully liquid ‘in the wallet’ or ‘on the account’ of the user. The withdrawal of 100% of viz tokens from social capital to a liquid state occurs in 28 iterations, each one once a day. The delegates can change this value. Fewer viz tokens are withdrawn proportionately faster. The reverse transfer from a liquid state to social capital occurs instantly.
Vizonomics is generally self-sufficient, as viz tokens serve the distribution and circulation of social capital, which is value in itself and does not require external evaluation in money. There is no central operator obligated to sell or buy viz tokens at any price, but liquid tokens are freely exchangeable for cryptocurrencies or money in private transactions.
The ability to buy viz tokens, and ultimately increase social capital with money, allows the participants of VIZ to increase their non-financial influence faster and incentivize others to contribute more. In turn, the sale of surplus viz tokens helps participants finance the costs of maintaining the blockchain and applications and earn from social activities.
In addition, while the inherent value of social capital has not become obvious to everyone, the market price of viz tokens makes the value of rewards more understandable. This encourages the participants of VIZ to maintain their capital at a level at which the rewards they issue are sufficiently considerable for the recipients.
Example
A user of VIZ has enough social capital to issue 20 rewards per day at an average of 1.5 viz per reward. At the market price of a viz token of 1 cent, the reward is perceived as ‘sufficient’. But at a price of 0.2 cents, the participant should think about increasing their capital or reducing the number of rewards so that each reward is more ‘considerable’ for the recipient. Conversely, if each viz is worth 10 cents, users can sell some of their capital or increase the number of issued rewards, since 15 cents per like may seem like an excessive reward.
With the development of VIZ, the focus on the ‘monetary’ value of rewards will no longer play a significant role, since social capital will become a self-sufficient value, and the attitude towards the size of rewards will be based on the ratio of the size of the reward and the average size of a user’s social capital.
Despite the fact that VIZ is focused on the concept of digital social capital, it has the ability to use fully liquid tokens for various transactions. Consider the list of the available options.
The transfer of social capital between accounts is the main function of liquid viz tokens. In VIZ, it is impossible to transfer social capital directly from one account to another. To do this, it must be withdrawn into liquid tokens, sent to another account, and there again converted into capital. If users choose so, a certain number of tokens can be left and stored in their ‘wallet’, but they do not yield any benefit for their owner in this form, since they are not taken into account for rewards.
Also, liquid viz tokens are needed to pay for commissions for some rare actions in the blockchain, like creating an application to the DAO Fund, putting an account up for sale, declaring an account as a delegate, etc. This is done to protect the blockchain from application spam. The size of the commissions is determined by the delegates.
Funds are paid out from the DAO Fund in the form of liquid tokens.
VIZ has a unique function of recurrent, or automatically repeating, payments in liquid tokens directly through the blockchain. Its obvious use is to pay for any kind of subscription for content, goods, services, charitable payments, etc.
Checks are used to transfer liquid tokens off the network. The user ‘writes a check’, locking a certain number of tokens, thus linking them to a public / private key pair, and then transfers the check (keys) to another user in any way outside the blockchain, for instance in person, by email, via messenger, etc. The recipient can ‘cash’ out the check into their account at any time.
Finally, viz tokens are used as a cryptocurrency for instant payment for goods and services without commissions via simple transfer. This is not their main purpose, but if a user is ready to accept viz tokens as payment for something, and another user is ready to pay with them, then the VIZ blockchain allows them to do so.
The supply rates of viz tokens are set in the blockchain code and can only be changed by a consensus decision of the delegates. Initially and still, the annual supply is 10% of the total number of viz as of the latest data on September 29. During the year, the supply of tokens occurs in equal portions in each block.
The starting number of tokens was 50 million, respectively, 5 million new tokens were issued in the first year, 5.5 million in the second year, etc.
The tokens in each block are automatically distributed for three purposes - for paying for the signing of each block by the delegate, as rewards, and to the DAO Fund. The shares of the distribution are determined by the delegates. However, unlike the rate of supply, a change in the shares does not require consensus, since they are calculated by the median values published by the delegates.
At the end of December of 2019, the participants of VIZ on1x and ae decided to freeze a significant part of their assets totaling 28 million and 4 million viz, respectively, with subsequent gradual unfreezing over the next seven years. Frozen tokens cannot be obtained ahead of time without a consensus decision of the delegates, which seems extremely unlikely.
Accordingly, starting from January of 2020, there are much fewer tokens in real circulation in the vizonomics environment than were originally issued. At the same time, the rates of the main supply remained the same, and the gradual unfreezing of tokens can be considered an ‘additional’ supply. As a result, if the real rates of tokens entering circulation are to be considered, they are higher than the formal ones - from 28% in 2020 to 18% in 2026. Starting from 2027, the rates of formal and real supply will equalize, as all previously frozen tokens will be unfrozen.
Delegates can influence the supply of viz tokens in two ways.
First, in theory, they could update the blockchain code to change the size of the supply itself. This action requires a consensus decision. Even the slightest of opposition will result in it being blocked.
Secondly, delegates can change the parameters of supply distribution by direction, which is much easier and does not require intervention in the code. Such a change can have significant consequences for the entire vizonomics model, since the size of the rewards and the efficiency of using social capital depends on the distribution of supply. An increase or decrease in contributions to the DAO Fund will change the attractiveness of working in the interests of the entire VIZ ecosystem.
The first 50 million viz tokens were distributed by an anonymous individual who launched the VIZ blockchain at the end of September of 2018. The distribution was based on data on donations made by several people to create the blockchain code, as well as information on the amount of work done by the author of the code. The initial distribution of tokens according to this scheme is the voluntary choice of an unknown individual. That individual had no obligation to follow any preliminary settings or rules. In total, 21 accounts received tokens during the initial distribution.
Over the next two years, the mission and concept of the project were refined, applications were created, and blockchain capabilities were tested. At that time, there was no advertising campaign, users joined on their own, realizing that they were getting the service ‘as is’, in fact, under the terms of beta testing.
During this time, more than 12 million viz were issued and distributed. Of these, 2.4 million viz were distributed to the delegates supporting the operation of the blockchain, 4.3 million viz were sent through the DAO Fund, and about 5 million viz were distributed among the recipients of the rewards. The remaining tokens constitute the current balance of the DAO Fund and the current Rewards Fund.
Several million viz changed owners during trading on the exchange, circulation through various exchangers, and direct transactions.
At the end of December of 2019, VIZ members on1x (aka in) and ae froze a total of 32 million viz with gradual unfreezing over the next 7 years. This was done to improve the decentralization of the ecosystem as a whole and to alleviate concerns about the possibility of a quick sale of a large number of tokens. In 2020, 1.2 million viz were unfrozen.
At the end of 2020, on1x and ae controlled a total of about 13 million viz out of about 31 million viz in the economy (42% compared to 85% at launch). Among other large owners of social capital and liquid tokens at the same time were speculator with 2.9 million viz, smailer with 1.8 million viz, denis-skripnik with 1.4 million viz, litrbooh with 1.4 million viz, id and kelechek with more than 1 million viz. The data is approximate and based on the VIZPLUS estimate, since VIZ accounts are anonymous.
In total, by the end of 2020, about 3,800 accounts owned viz tokens, but the vast majority of them are technical or created during spam attacks. Nevertheless, there were about 250 accounts with significant social capital in the ecosystem, wielding more than 1,000 viz.
The start of the second phase of the existence of VIZ can be considered the full-fledged launch of the viz.plus website in January of 2021 with information and promotional materials, as well as the necessary supporting services.
The site should become an onramp to VIZ for all those interested, including users, developers, entrepreneurs, investors, etc. It is the website that will attract the flow of visitors through advertising and PR. Special chats in the Telegram messenger have been selected for technical support for users and advising developers, entrepreneurs. and investors.
According to the forecasts of the VIZPLUS Initiative, in 2021-2023, the following directions will be developed:
- Connection of small and medium-sized sites and applications to VIZ;
- Massive expansion of VIZ in Telegram;
- Creation of the financial part of the ecosystem, including services for buying and selling viz tokens and renting social capital;
- The emergence of new active investors participating in the development of VIZ;
- The emergence of the first ‘corporate’ participants of VIZ with relatively large social capital for loyalty programs and customer rewards;
- The expansion and application of the possibilities of the VIZ blockchain that are not related to social capital, such as the distributed social services, stores accepting liquid viz tokens as payment, etc.;
- VIZ expansion into English-speaking markets.
By the end of 2023, about 60 million viz will be in circulation. The supply of tokens will double compared to the end of 2020. However, the development of the ecosystem, entailing the emergence of businesses and new investors, and an increase in the number of active participants by at least threefold will not only absorb this growth, but will also create a significant shortage of tokens, consequently leading to an increase in their price, also multifold in nature.
In the third phase of development, VIZ should become a familiar addition to almost any online and offline social activity in developed countries. A user’s digital social capital will eventually become one of their core attributes like an account in a particular social service, a phone number or a list of hobbies.
It is likely that in a few years, the bulk of the rewards will be distributed by large holders of social capital like companies, organizations or informal groups of participants who will retain the loyalty of users, followers or fans in this manner. The use of incentives in the form of VIZ rewards in the education / upbringing system in addition to grades cannot be ruled out either, as it can become a huge segment of vizonomics. Nevertheless, in ordinary social relations among users, rewards for favor or pleasure will become a sign of ‘goodwill.’
Social capital rental services will also likely be developed for corporate and private users. Such services will temporarily delegate social capital to users who do not have the ability or desire to buy or own it. Corporate clients can use the leased capital in one-off marketing campaigns, while private clients can use it to increase their influence in communities or boost self-esteem.
As activity volumes multiply, there will be a need to modernize the VIZ blockchain so that it can withstand the corresponding load and be more convenient for users.
In terms of convenience, for example, at some point, delegates will have to consider splitting tokens. By the end of 2029, the supply of viz tokens will reach 145 million. Assuming that about a third of them will be owned by individual users, whose number will reach 100 million people (1/10 of Facebook’s audience), then there will be a capital of approximately 0.5 viz per user, and the normal reward (with 1% energy) will be less than 0.0001 viz. Obviously, it makes sense to periodically split tokens by ratios of 10 or 100.
Unlike cryptocurrencies and most other crypto assets, the viz token has a certain fundamentally justified value that can be translated into an estimated price. This price is not anyone’s obligation, but is based on several assumptions, and the market may value viz in a completely different way at the moment. However, it is of some interest.
One of the basic concepts in VIZ is the reward, that is, an increase in the digital social capital of one participant by another participant. The size of the reward is measured in viz tokens and formally has no financial value: the increase in social capital is valuable in itself, as it increases the influence of a person (more precisely, an account) on other participants in the VIZ. However, until VIZ is widely adopted, people will habitually focus on the ‘value’ of the reward expressed in money, at least to some extent.
It is reasonable to assume that, over time, the VIZ ecosystem will form an opinion on the acceptable amount of the ‘in cash’ reward. It is unlikely that there will be many who want to routinely like posts in microblogs for a dollar at a time. On the other hand, liking for $0.0005 is also not a very attractive option.
It seems to us that an ordinary VIZ participant will be able to accept to issue modest rewards of about
The second parameter that needs to be calculated for this model is the average number of tokens in the capital of an active participant. To do this, the total number of tokens in circulation should be subtracted from the liquid tokens, the shares of large investors, corporations and rental services, as well as ‘deadweight’ capital that has actually gone out of circulation. The remainder is divided by the number of active members of the network.
The result is a simple ratio of the monetary value of ‘ordinary’ social capital and its size in viz tokens, which gives an idea of the estimated price of the token.
Example If the above model of distribution of tokens at the end of the second phase of the development of VIZ turns out to be correct, then active users will collect about 25-30% of 60 million viz - 15-18 million viz in social capital. Accordingly, with 100 thousand active VIZ users, the capital of any given participant will be 150-180 viz on average. This results in an estimated viz token price of $3.
Of course, such a calculation is very approximate and speaks more of scaling than about any specific value. When these parameters are reached, it is rational to expect the price of the viz token to be valued in dollars by the end of 2023, but tens of dollars or cents seem unlikely.
The best option for investing in VIZ is to buy tokens from developers and entrepreneurs involved in the development of the ecosystem.
Typically, developers receive payments in tokens from the DAO Fund for work that is useful to the community and sell some of these tokens to investors. This way of buying is doubly beneficial, since it not only allows users to evaluate viz tokens, but also generates additional value to the ecosystem. In addition, users can buy a fairly large number of viz tokens in bulk at a relatively low price.
The VIZPLUS initiative is ready to connect investors with such developers. Our contacts: adm_viz_plus in Telegram or mail vizplus@protonmail.com
There is also a Telegram group VIZ+Trade, where it is possible to negotiate a deal with other participants of VIZ.
Exchange trading in viz tokens takes place on the decentralized RUDEX exchange under the XCHNG.VIZ asset paired with XCHNG.USDT. To purchase viz tokens on the exchange, users need to create an account on it. No identity verification is required. Then, users have to deposit USDT TRC20 through the XCHNG gateway, buy XCHNG.VIZ and withdraw them through the XCHNG gateway to their VIZ accounts. This option is recommended for those who are well versed in trading on the RuDEX exchange.
Finally, large volumes of viz tokens can be purchased for cryptocurrencies at the Menaskop store.