VEND, Trustible, and Ible City: Connecting the dots…realizing the dream
At Vendible, we are working to build a company whose employees and community have actual ownership of the network and its operation. We have structured our token, VEND, to reflect these intentions. The 1.2 billion fixed supply of our token helps to secure our network by locking this asset into each Vendible account. Since each member creates these accounts for many different uses, there is a tremendous opportunity to lock VEND as part of normal operations.
The creation of many accounts involves a purchase by the account’s creator (not necessarily the member using the account). Trustible will be the first fully released application with purchased accounts.
Trustible is a sovereign private key protection system using our zero-knowledge proof decentralized identity vaults. Each key that is protected requires a subscription. Trustible is a cross-chain product, protecting keys across major blockchains.Native chain assets, including BTC, ALGO, and ETH, are used as payment. These fees, with the help of third parties, Vendible transfers this value onto Algorand.
A portion of this fee, 12%, is exchanged using a DEX into ALGO to provide the minimum balance and the remainder exchanged for VEND. The associated account holds both assets for the length of the subscription. This requirement creates a strong buy force for VEND.
Members who wish to steward by staking VEND participate in governance and have oversight of the DAO treasury. Administration of the DAO treasury falls to our Foundation to help facilitate asset management.
The DAO takes part in a profit-sharing plan with Vendible. Thirty percent of all profit generated by the operation of the Vendible network transfers to the DAO treasury. Vendible will deposit assets used as payment from different networks, including SOL, MATIC, and NEAR. This profit-sharing plan rewards members for supporting Vendible without causing sell pressure on our token. We believe these factors make VEND more than an attractive investment; we see it as a generational tool of abundance for those who participate with us and, in turn, we serve.
We expect an estimated number of active keys to be 600 million by the end of 2023. Capturing even a small percentage of this market would be life-changing for many of our communities. We believe this is achievable with support from a community of people dedicated to supporting the network and one another.
Trustible is a cross-chain product. As such, we want to build that committed community across multiple blockchains. That is why we have launched a muti-chain utility NFT called Ible City. Ible City is a representation of our cooperative network. It is a place we can all call home.
As early supporters of Vendible, NFT holders receive incentives. After all six Ible City series are released, we will launch VEND on testnet and begin testing Trustible. For those holding an NFT when testnet starts, we multiply the VEND they receive by up to 4 times a member joining from our signup page. Halfway through our testing, after we have open-sourced our solution, we will release VEND on mainnet.
Before mainnet, Vendible will open crafting for our NFTs. Crafting allows members with multiple NFTs to combine them to a higher level, locking in long-term discounts and passive revenue after unlocking rental options, so others can gain discounts and increase their rewards from the DAO treasury. It takes 64 Ible City NFTs from any series to reach the highest level, seven.
Each time an NFT reaches a higher level, some smog disappears until you reach the highest level, where the skies are clear, and everyone can see the beauty of Ible City. Crafting mirrors our cause as 30% of initial proceeds and royalties go towards air quality improvement initiatives.
We hope everyone reading considers joining us on this journey by getting your NFT(s) to lock in savings, rewards, and knowledge that, as a steward, you are helping to build amazing things with amazing people. We look forward to welcoming you to our network.
