Vitreus: What’s it about? Presale Schedule? Staking Rewards!
Full Disclosure: This article is information that I have gathered from the Vitreus.io website, from the Vitreus and core team’s Twitter accounts, and information that I have specifically requested from the Vitreus CEO Chad Justice. I DO hold Vitreus and I DO plan on running a vNode upon the launch of the blockchain.
What is Vitreus:
According to Webster’s Dictionary, Vitreus means:
1a. Resembling glass
1b. Characterized by low porosity and usually translucence due to the presence of a glassy phase
https://www.merriam-webster.com/dictionary/vitreous
Basically, Vitreus is about transparency, which is how the core team is trying to run the Vitreus company.
What is Vitreus all about? ELI5 edition.
Vitreus is building software and an AI (artificial intelligence) based blockchain ecosystem that focuses on helping companies, in very strict compliance fields, to be able to maintain compliance while reducing the amount of training hours and money that is usually required to keep the company in complaince. Compliance in fields like: Financial Services (Registared Investment Advisors (RIAs), Broker Dealers, Tax and accounting firms, Insurance carriers, small banks, and credit unions, for example), Real Estate, and Energy, have very strict compliance guidelines that are ever-changing. Using an AI based blockchain, they will be able to help these companies perpetually meet and exceed the compliance guidelines, while reducing the amount of hours that employees have to spend training and retraining to learn the most current guidelines in their field. The ecosystem will also provide safe and compliant data storage, that is readily available for reporting and auditing needs.
Vitreus Essentials:
Is the software dApp (decentralized app) that the clients will use to access the Vitreus ecosystem. Here, they will be able to handle all their regular daily business transactions and even create their own smart contracts that will run on the Vitreus Blockchain.
This software will help the businesses to stay within compliance and prompt the client when an action needs to be taken in order to keep within the current or new guidelines.
COMPLiQ:
Is the patent-pending, proprietary AI engine of the Vitreus blockchain, that was designed and developed specifically for compliance operations. Running on a decentralized blockchain, keeps it fast, secure, scalable, and dynamic, while reducing downtime. The AI technology is continually learning and helping companies stay agile to their industry changes.
Initially, this was designed for the BFSI (Banking, Financial Services, and Insurance) industry but, due to how scalable and dynamic it is, Vitreus is now also adding compliance learning for Real Estate and Energy, and it can be adapted to add MANY other industries where compliance is highly regulated and consistently changing.
Who is Vitreus for?
In just the BFSI industry, we are looking:
- over 14,800 RIAs
- over 10,500 banks & credit unions
- over 410,000 Insurance brokers and agencies
In Real Estate, according to the National Association of Realtors, there are over 106,000 real estate brokers and, in 2020, over 5.6 MILLION existing homes were sold.
For Energy companies, there over 1,600 companies, and the numbers for ALL these industries are JUST from the United States…
Strategic Partnerships:
To pull all this off, you have to have a support system (aka business partners) and Vitreus has already locked down some key partnerships with companies like: Linux Red Hat for infrastructure, Innowise for development, and Cloudflare for cyber security.
Are they a SafeMoon Partner?
Right now, Vitreus’s current focus is on getting their own company built and running, building their own brand, and forming strategic partnerships that add value to their blockchain, ecosystem, and company’s future… but of course I’ll keep working on him.
What is the Vitreus Tokenomics/Tax?
First, let’s start with the Token-economics:
Max Supply is 1,000,000,000 (1 Billion coins):
- 17% will be kept for staking rewards (170,000,000)
- 7.5% will be team’s wallets (75,000,000)
- 25% will be starting liquidity (250,000,000)
- 10.5% will be in the operations wallet (105,000,000)
- 11% sold during the inital seeding round, raising over $880K
- 29% for remaining progressive pre-sales
Vitreus is a 0% tax token: which makes it easily able to be day-traded and easily listed on top exchanges! But, how can you earn more by just holding?
Staking Rewards!
For starters, Vitreus blockchain is going to be a Proof of Staking blockchain (POS). There are 2 ways that you can earn passive income from Vitreus:
1. You can run a vNode and stake your tokens
2. You can stake your tokens on someone else’s vNode
Staking rewards will pay rewards in 2 ways:
1. You will earn VNRG (Vitreus Energy token) the gas token of the blockchain
2. You will earn VIP Royalty payments from the software side of Vitreus
**I have requested more in-depth details about the vNodes, staking, and VIP Rewards from Chad, so I will hopefully have another blog explaining how that will work in more detail soon.**
How to earn a FREE vNode!
If you acquire 300K tokens during pre-sale stages, you will get a FREE vNode to host and run! You do not need to buy the 300K coins all at once or in the same stage, it is based on your cumulative number of tokens by the end of all the pre-sale stages.
Let’s talk Presales:
The first pre-sale round got pushed back and is actually starting this weekend (June 24th), but the rest of this infographic is acccurate.
Any leftover tokens from each stage, if there are any, will be moved to stage 10 or there is a possibility that some could be burned, reducing the supply.
The team:
The team is doxxed on the vitreus.io website, where you can even read about their backgrounds.
The future of Vitreus…
IMHO, it is one thing to have an idea, to build a company around it, and then let the idea ride… It’s even better when your idea is scalable and able to be implemented across numerous industries… But, it is even BETTER, when you have more ideas in the pipeline! So, where is Vitreus going in the future:
Vitreus Acquiesce: “a library of modular, audited, and curated code designed to help users in different industries start their digital journey easily and affordably.”
Vitreus Emporium: “a marketplace of applications built to interact with VITREUS, where businesses, users, service providers, and investors can benefit from each other.”
advisorRetire: “an innovative platform that offers a one-stop-shop for buying and selling businesses in a secure, efficient and cost-effective manner.”
More information on these products can be found on the Vitreus website at https://vitreus.io/future-products/.
So, why am I holding Vitreus?
If you have been following me for an extended period of time, you will know that I like the potential for “passive income”. From what I have researched, no one else in the web3 space is doing what Vitreus is going to be doing, which automatically gives them great potential and a head-start in their niche.
I have talked with the team on numerous occasions to say what is on my mind, ask questions, or just give them a hard time, and the ones I have spoken with seem real down to earth and they never hesitate to educate me. Chad has even reached out to me in regards to my post about me wanting to find my place in web3… While I am not working for Vitreus right now, they are a company that I can potentially see myself collaborating with and maybe even working for in the future, and I would only work for a company that I truly believed in.
Between my tokens that are converting from their acquisition of Reflex and their great pre-sale prices, getting to 300K tokens seems very attainable to me, and I LOVE the thought of getting in early to a company that is innovating in the space.
All that being said, this is crypto, blockchain, and web3… Don’t JUST do your own research on companies; talk to them, interact with them, and don’t be afraid to DM them with your questions.
Know your goals: Are you looking for something you can day-trade? Are you looking for staking rewards? Are you looking for passive income? Set bag goals, set profit levels, and DO NOT be afraid to take profits. The next bull cycle should be coming up soon and if you do not have a plan, you can easily end up disappointed.
Nothing I say is a recommendation. This is just an educational post to provide a VERY high level overview of Vitreus. Nothing is guaranteed in this space, they could do great or they could go out of business. I cannot see the future.
I hope I have answered most your questions. As always, the comments are going to be turned off, but you can always comment on my Twitter post. Cheers!
Errata: for compliance standards, I had to change a few instances of the word “coin” to “token” and change “passive income” to “staking rewards”.
https://twitter.com/SafeMoonSpidey/status/1671632129673814016