About the launch of VERSE (Previously known as ‘HOWL’)— The AidiCraft Rewards and Utility Token
#ONEDAYCLOSER to the AidiCraft Launch. Most of us are already familiar with AidiCraft — The digital art-focused NFT Platform and its upcoming launch. VERSE (We previously used the place holder ‘HOWL’) is designed to be the AidiCraft rewards and Utility token. All NFT creators who make a sale or collectors who make a buy on AidiCraft will receive $VERSE rewards. This article is written to introduce some cool features of VERSE and to show how VERSE will play a major role in building the Aidiverse.
AidiCraft as you know, is one of the main utilities in the Aidiverse. AidiCraft and AidiPlayFi will be seamlessly integrated to ensure smooth in-game NFT transactions. VERSE was on the roadmap from the very start of the project. its primary role is to support the growth of the AidiCraft platform and be its rewards & utility token. During these 3 months of Aidi’s existence, we welcomed the community’s input on VERSE and understood what they expect to see in VERSE. Everyone wanted VERSE to support $AIDI’s growth. We brainstormed on suggestions and ideas from the community and came up with features that we think will be best for AIDI and Aidiverse.
VERSE Token
Token Name: Verse
Token Symbol: VERSE
Type: ERC20 Token
Launch Date: 31st August 2021 15:00 GMT
VERSE Features
- AIDI Price Stability by in-built automatic buyback & burn
- AidiCraft Operations Cost and Marketing
- Rewards for the AidiCraft Platform users
- Whale protection
- Bot prevention
VERSE Tokenomics
- Total supply: 5 Million $VERSE (max)
- 65% DEX liquidity
- 20% for Aidicraft Reserved Rewards
- 10% for Team & Development
- 5% Airdrop for existing Aidi Holders
How does VERSE work?
VERSE works side by side with AIDI. The VERSE token is designed to bring more stability to AIDI’s price and Aidiverse. Each buy or sell of $VERSE will trigger automatic buyback and burn of AIDI, and $VERSE holders will be getting reflections in ETH. More details are below:
1) Automatic buyback and burn of AIDI — 3% of every transaction’s ETH value will be used to buy back AIDI from the DEX pool and this bought AIDI will be sent to the burn address. Creates shortage in AIDI supply and adds wETH in AIDI’s DEX pool, increases overall AIDI price.
2) Bigger reflection in ETH — 4% ETH reward to holders. To be eligible for ETH dividend payout, the users just have to hold a minimum of 500 $VERSE. The ETH rewards are credited periodically to holders’ wallets (up to 24 times a day). It’s automatic and VERSE’s contract takes care of it. So just hold $VERSE and earn rewards in ETH!
3) Marketing, Team, Charity fee — 3% of each transaction’s ETH value will be shared among marketing (1%), team (1%), and charity wallet (1%). This supports the Aidiverse’s expansion while also facilitating contributions to good causes.
4) Whale protection — There will be an initial buy limit to prevent bots from eating up all liquidity, this limit will be removed later. Also, to discourage series of whale dumping, there will be a ‘maxDailySellAmount’ threshold, that will be used to double tax series of sells. If the total sell amount from a wallet goes above a ‘maxDailySellAmount’, then the $VERSE contract charges a double fee for every corresponding sell on that day from that wallet.
5) Bot prevention — $VERSE comes packed with manual and automatic bot prevention algorithm. All sniper-bots and front-runner bots will be added to a blacklist.
Total fee for buy/sell transactions = 10%
If the daily sell amount goes above ‘maxDailySellAmount’, the total fee for sell transactions for that day = 20%
What will be the Utility of this token?
VERSE is the native utility token for AidiCraft, designed to reward active platform users and incentivize active participation. The 20% of VERSE’s supply is allocated to support rewarding for AidiCraft platform users, i.e 1 million $VERSE will go to AidiCraft users.
How is $VERSE distributed?
20% of VERSE’s total supply is reserved for sellers and buyers on the AidiCraft marketplace. 20,000 tokens are distributed every 15th and 30th of the month to creators and collectors who made a sale or a purchase on AidiCraft during the respective time frame. Both buyers and sellers equally receive 50% of the biweekly distributed amount.
VERSE will be closely related with NFT, NFT Collectors, Artists, and Gamers. Users who hold $AIDI and $VERSE together will also get exclusive access to games in AidiPlayFi.
$AIDI and $VERSE will go together side by side, building the great Aidiverse.
