Validity Project Update

Forward, always!

Introduction:

It’s very clear by now that crypto is going through a brutal bear market which might not be over any time soon. After Bitcoin reached its bull cycle top at $69k, BTC crashed to under $20k. This is normal as Bitcoin usually corrects about 82% on average after a bull run. Unfortunately this has an impact on the rest of the crypto space including our beloved VAL. That being said, the strong fundamentals of VAL have not changed. For example, there still remains a max supply of 9 million coins only which is appealing to many people who don’t like what’s going on with fiat inflation worldwide.

Team Expansion:

Validity has gone through these bear cycles before and the team is very experienced on how to deal with them, it’s an ideal time to build and develop and that’s exactly what we are doing! Additionally, the project is in healthy financial condition for years to come. We even expanded the team with three new members: Davis — Graphic Designer, Harriet — Web Developer, and Vicky — Discord Community Manager. The team remains very positive on the future of crypto, and we have great appetite to achieve our goals and prepare for the next bull cycle.

Validity Discord Game:

As some of you might know, we are developing a Validity Discord game. It will belong to the Idle (incremental) Games category and is heavily influenced by IdleCapitalist which we are a big fan of. It didn’t take much for us to realize we can make our own idle game and offer our community a fun alternative based around the Validity technology suite itself. You will be able to grow your fortune and build a career in the game, you might even earn some real VAL coins!

We are making good progress and we completed the closed BETA in May 2022. However, we were not satisfied with the game economy and we had to completely rework that part of the game. We are currently play testing within the team, but we will announce an open Beta at some point in which everyone can participate and give us their feedback so we can improve the game further if needed.

The Validity Smartchain:

The Validity Smartchain is currently in the process of undergoing massive upgrades as many things have been improved and upgraded in the react ecosystem and we want the Smartchain to be as best as it can be.

The first iteration of the Validity NFT marketplace is now almost complete, utilising atomic swap technology for NFT purchases. Beta tests are completed and the technology is working as intended.

NFT Collections:

• ‘For the King’: Ready for release. This is a limited collection of about 100 NFTs only and is an homage to Bitcoin. People who participated in the Bitcoin giveaway earlier this year and are a member in our Discord will receive a ‘For the King’ NFT for free. NFTs of this limited collection that are not claimed will either be used for future giveaways or put up for sale/auction on the Validity NFT marketplace.

• ‘Elvgren’: This is a test collection and an homage to Gil Elvgren who was an American painter of pin-up girls. Apparently his art is in the public domain, but we want to be absolutely sure that we don’t violate any copyright laws which will determine whether we release the collection to the public or not.

New Website:

We are working on a better website, and this year we have taken on Harriet our new Web Developer to make this happen. We have lots of information we want to have available for our community and newcomers, but our first task will be to consolidate the information from our existing website into easy to read, user friendly, and informative content. We also want to modernize and change the look of the website, and improve the user experience for our visitors. We don’t want to pinpoint us to a specific release date, because we want to get this right.

Exchange Expansion:

New listings can be complex and extremely expensive depending on the exchange. Some exchanges do list for free but might have other requirements instead then, for example a community of at least 20k-30k people.

We don’t want to spend insane amounts of money to get listed on a centralized exchange though, especially not in the current environment. We have witnessed exchanges getting wiped out during previous bear cycles so paying excessive amounts of money for a listing comes with high risk at this point in time. What we can say is that when a good opportunity presents itself then we will certainly follow up on it.

Validity is currently being listed on 3 more exchanges and on one of them the market is already live: Dex-Trade
https://dex-trade.com/spot/trading/VALUSDT

In Conclusion:

Validity survived several bear cycles and will survive plenty more. The team is motivated and the project is doing well. Good things come to those who wait they say. In the meantime the Validity blockchain generates a new block every minute on average, just like it has for the last 7 years, and our staking community is getting in those juicy rewards for helping secure the blockchain. And remember, there will only be 9 million VAL coins!

On that note, we wish you all a good day and you are very welcome to join our Discord if you haven’t already: https://discord.gg/8nkn2VY

Gunther Pieters

Validity Team Lead