As you are aware Verasity is no longer supporting VRAB tokens and we are processing the swap from VRAB to VRA for VRAB token holders. In an article post we explained the reasons for the swap and the reasons for the measures that we are taking to protect all token holders and the project.
Having listened to the feedback of the community, we are introducing three new changes to the announced measures which will help address the community’s concerns regarding their liquidity.
In combination, all three measures provide better liquidity for all (former) VRAB token holders while giving VRA holders confidence in their VRA investment.
- VRAB Holders Under 2m with a VeraWallet account
VRAB holders whose total swapped balance was less than 2,000,000 VRAB and now have less than 2,000,000 VRA — Their entire balance will be moved from the 12 months fixed period Swap Staking Scheme to the standard staking scheme with 72 hours lock-out.
The transfer from the Swap Staking Scheme to the standard scheme will happen the week of August 3rd automatically for the qualifying VeraWallet holders. No further action needed.
2. VRAB Holders Above 2m with a VeraWallet account
VRAB holders whose total swapped balance was 2,000,000 or more will have the opportunity to transfer 1/12th of their swapped balance or 2,000,000 VRA, whichever is the greater, from the 12 months fixed period Swap Staking Scheme to the standard staking scheme with 72 hours lock-out.
If you want to participate in the transfer from the Swap Staking Scheme to the standard scheme please fill in this online request form by no later than August 10th 2020. To be eligible you must have a VeraWallet account and more than 2,000,000 VRA that was already swapped from your VRAB balances.
This process will be manual and begin the week of August 3rd.
3. VRAB Holders with a VeraWallet who transfer 1/12th of their swapped balance
These holders will be entitled to transfer 1/12th of their swapped balance monthly until their entire balance is transferred from the Swap Staking Scheme to the standard staking scheme.
Once you completed the form in 2. above, this monthly transfer will be automatic. No further action needed.
4. Staking “Switch” Scheme
Verasity will introduce a Staking “Switch” Scheme where VRA token holders who are not participating in a staking scheme (or wish to stake more) have the opportunity to be matched and “switched” with somebody who is in staking but would like to leave their staking scheme.
Via an online form Verasity will collect the VeraWallet address, the maximum amount to be staked and the length of time to be staked from the “Joiner”. Verasity will match this with a “Leaver” who has provided their VeraWallet address and the maximum amount to be withdrawn from staking.
The Staking “Switch” Scheme will provide VRA holders the opportunity to earn the current 36.5% per annum in Staking Rewards while allowing an earlier exit for some VRAB swapped accounts.
If you would like to participate in the Staking “Switch” Scheme, either as a Joiner or Leaver, please fill out this form. We will email both Leavers and Joiners when a match has been made.
VRAB-VRA Swap Progress
The VRAB to VRA swap, as we have stated, is a manual process and we are preparing, checking and swapping in batches. We are aiming to finalize this next week for the “prior to June 29th group”. We will start the process with the “post June 29th group” the week of August 10th.
All VRAB comments and chat have been moved to this Telegram Group so that we can respond to questions efficiently.
We appreciate your patience.
Community Response
Verasity did reach out to the community prior to the swap and lock-in. Holders of over 90% of the VRA tokens and holders of over 50% of the VRAB token holders were canvassed. Prior to the official swap, holders of over 50% of the VRAB token agreed to the terms of the swap and were swapped with the lock-in. In total, this represents holders of more than 75% of the Verasity token.
REWARDS BASED PLATFORM FOR ESPORTS, GAMING AND VIDEO ENTERTAINMENT
Verasity provides proprietary technology uniquely rewarding gamers, viewers and publishers. Verasity is a crypto-based platform with the VRA token that aims to revolutionise the online advertising business. With its innovative Proof of View system, advertisers are able to guarantee their video ads are seen and not ignored thanks to smart contracts on the Ethereum chain, while viewers are able to earn VRA simply by watching the content they already consume. Verasity has a focus on gaming publishers and esports.
- The first platform to provide user-generated esports and prize pool tournaments supported by both Fiat & Digital Tokens.
- Video gaming content monetized by Verasity Ad Stack and Proof of View (PoV)
- Enables tokenized rewards (VRA) as well as loyalty schemes within the video player VeraWallet
- Supports over 2 million video publishers with our SDK products (overlay on video players) to increase engagement and revenues by 35%. See example publishers and videos here.
Verasity revenue streams include:
ame subscriptions, prize pool commissions and video ad revenues. Read about the tokenomics, forecast, buy back and burn here.
📖 Read our latest adoption metrics and one page overview
📈 Find where VRA (ticker) is trading on CoinMarketCap
VRA can be staked for 36.5% annual interest at https://verawallet.tv.
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