People — Service — Profit and the VEND Token
Vendible strives to solve many issues that keep most people from engaging with decentralized technologies. Ensuring protection, data ownership, and simplicity are paramount to our mission. Our solution set can be applied across most industries or endeavors as we couple identity to assets in ways that prove uniqueness while maintaining privacy. Tools for developers extend these services across web3 for mainstream adoption.
Each member has a natural stake in the operation as a cooperative network. This structure manifests in the form of our token VEND. Each account a member generates locks a small portion of VEND as a minimum balance. Depending upon the use case, a service provider or a member can provide the minimum balance. Regardless of the setup, the purpose is to decentralize our network as much as possible. Coupling network usage to each member’s stake is our primary method of decentralizing the VEND token.
In addition to securing the network through staking, VEND provides access to governance. With the assistance of a DAO Foundation, the members propose and vote on measures for the DAO and the DAO treasury operation. The DAO treasury is an extension of Vendible’s net-zero people-service-profit model. People-service-profit is a model in which employees provide outstanding service, that service generates a profit for the company, and a portion of the profit returns to the employees who produced this profit. This model is not new; some corporations have used it to extend ownership of the company’s success to the employees who make that success possible. However, we are expanding the model to include the community which supports the network.
With our net-zero profit model, we distribute profits in three ways — taxes, employee profit-share incentive plan, and the DAO treasury. The DAO treasury holds assets such as BTC, ETH, and ALGO that we collect as part of our operation. These are made freely available to the DAO to manage as they wish. In this way, we extend the people-service-profit model to all participants so they become champions of our products, services, and solutions. They can sell on through education and training. They can help to develop our technologies in open builds. We reward this effort by returning profits to those committed to the network’s success. This reward comes in the form of external assets, keeping the inflation of VEND very, very low. We are projecting approximately 30% VEND in circulation 4 years after TGE with roughly 2% per year released afterwards.
Vendible has constructed a new paradigm in web3. Our Sovereign model sits between self-sovereign (lots of freedom and lots of risks) and custodians (not much freedom and not much risk) and provides our members a high degree of freedom with low risk. We are launching our first open product with this system, Trustible. The addressable market for Trustible, a sovereign protection system that prevents the loss of private keys with additional services such as beneficiary linking and insurance, is accelerating despite market conditions. We hope you will join us by exploring, learning, and then committing to help us ensure that everyone else who enters DeFi does so in simple, secure ways — with full ownership of their assets and data.
Maximize your VEND during Trustible testnet with Ible City xNFT(s) on ALGOxNFT (ALGO) or OpenSea (MATIC)
