SidusPad Drives Verida Network to New Heights
SudisPad is all about bringing users the most promising projects in the cryptoverse and facilitating rapid Web3 development. As a part of this objective, the Launchpad has welcomed a project with a unique concept, Verida Network, up for an IDO on May 6, 2024.
Go ahead and register for the IDO here: https://www.siduspad.io/project/verida/public.
In the meantime, here is a short compilation of the main features that make Verida stand out!
Verida Network: Bridging The Gap Between Decentralization And Privacy
Verida is a decentralized infrastructure for private user databases — a niche company, that bridges the gap between decentralization and data privacy. Verida Network was created with one fundamental mission — to give users control over their personal data and agency over their choice of interaction with the digital world. Furthermore, Verida strives to resolve the data trifecta, bringing users privacy without sacrificing security and governance. The project seeks to create an “era of hyper-personalization,” where user data belongs to individuals, is private, and consensually accessed to create new products and services. Verida Network also provides the technology and tools to bring that vision to life. One of those tools is Verida Wallet. In detail, the Verida Wallet is the first mobile crypto wallet to support Polygon ID ZK credentials. To sum up, here are the project’s main features:
- Fundamental mission — to give users control over their personal data.
- Verida strives to introduce Web2 users to Web3 — the global market for database management services in Web2 is expected to reach over $200 billion by 2027.
- The Verida Storage Credit Token (VDA) — enables secure interactions between accounts to facilitate secure data storage.
- The VDA token is NOT a governance token and is not for speculation. The primary purpose — facilitate data storage and reward Early Users.
- The list of notable partners includes Gate.io exchange, Near Protocol, open-source protocol Wallet Connect, Polygon ID toolkit, and others.
IDO Specifications:
- Allocation: $150,000
- Token: VDA
- Token Price: $0.05
- Token contract: 0x683565196C3EAb450003C964D4bad1fd3068D4cC
- Network: Polygon
- Accepted currency: USDT
- Registration: May 3, 10:00 UTC — May 6, 10:00 UTC
- Guaranteed Round: May 6, 10:00 UTC — May 7, 10:00 UTC (24 hours)
- FCFS: May 7, 10:00 UTC — May 8, 10:00 UTC (2 rounds, 12 hours each)
- Refund Policy: 3 days
VDA Token and Tokenomics
The Verida Storage Credit Token (VDA) creates a data economy that enables secure interactions between accounts to facilitate secure data storage, trusted sharing, and fast querying. The initial economic stakeholders are:
- End users: Use applications and pay for storage and application subscription fees on the network
- Applications: Earn revenue from user subscriptions and by generating valuable data and may pay storage fees on behalf of users
- Storage Node Operators: Stake tokens to earn an income from providing storage capacity to the network
The VDA token is deployed on a permissionless blockchain (Polygon PoS) and therefore inherits characteristics of any other ERC-20 token.
Tokenomics
The VDA token is NOT a governance token and is not for speculation. Its primary purpose is to facilitate the storage economy for data stored on the Verida Network and reward Early Users for driving growth and adoption of the Network. Thus, the Network Growth Rewards take up 20% of the token supply, while 17% goes to the DAO.
The Team Behind Verida
The core of the team — co-founders CEO Chris Were and COO Ryan Kris are joined by an experienced, globally distributed team, supporting engineering, product, community, and ecosystem activities. The full team is presented on the Verida website.
✅ Verida Network | Official links:
- Website: https://www.verida.io/ & https://www.verida.network/
- Twitter: https://twitter.com/Verida_io
- Telegram chat: https://t.me/verida_community
- Discord: https://discord.com/invite/qb6vS43/
- Developer Portal: https://developers.verida.network/
- Community Site: https://community.verida.io/
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