As we begin the new year, our team is so excited to watch the development of Vey in 2019. But bringing Vey to life requires more than just development. A successful blockchain platform also relies on a stable token fueling it. Managing the circulating supply of the Vey token (VEY), before and after release, is crucial to the overall stability of the platform.
Circulating Supply
The circulating supply, as of February 16th, 2019, is 175,720,140 VEY. This is approximately 8.79% of the total supply of 2 Billion VEY.
[2020 Update: Circulating supply is still the same, but the Beta is out! Beta 2.0 this summer will see the beginning of the following platform distribution process]
We do not anticipate significant inflation for the foreseeable future.
The reason for the low circulating supply of VEY is because of platform distribution. Once the Beta is built, we will be providing initial liquidity and scaling with research demand, only reducing platform distribution once research providers can provide the necessary liquidity. As outlined in other articles, researchers are incentivized to create consumer polls on the platform because we have zero-fees, cutting out over half of the costs associated with the online survey industry.
This article will be periodically updated to reflect the most accurate circulating supply of VEY.
Sincerely,
The Vey Team
