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The United States has a record number of job openings, another sign workers have greater opportunity to find better jobs, according to data the Labor Department released Tuesday.
The nation had 7.136 million job openings in August, the highest on record since the Labor Department began tracking…
When addressing the allegations against then-Supreme Court nominee Brett Kavanaugh last Tuesday, President Trump had this to say : “It is a very scary time for young men in America, when you can be guilty of something you’re not guilty of.” Fast forward one week, and those words have found a…
On Oct. 8, 2018, the blockchain firm and mining pool Viabtc finished the first high-value initial coin offering (ICO) using the Wormhole protocol and Bitcoin Cash chain. According to exchange data, the Viabtc Token ICO raised US$ 3,700 per second capturing a total of $ 30 million in 2.2 hours.
Viabtc Launches Token Sale and Distribution Phases
The firm Viabtc had recently launched a new token called the Viabtc Token (VIAT) using the Wormhole protocol. The company refers to viat as a value-added service and privilege token that can be used as “gas” or a method of value transfer. When viat was issued on the Wormhole network a fixed supply of 2 billion tokens was set by the developers. On Monday Viabtc raised $ 30 million during the first major ICO issued on top of the Bitcoin Cash blockchain. Then on Oct. 9, Coinex users who trade the viat token will receive an airdrop from the firm’s stash of CET tokens.
Viat will be used for a process called ‘Duo mining’ which gives miners normal pool payouts but also an added payout of viat as well. The viat mining payouts will be released in four phases and will give miners extra incentives to join the pool. The mining pool says that users can invite friends to mine with Viabtc and with a referral link they can receive more payout rewards. Viat owners can also use the currency for discounts toward pool fees and “exclusive customer support.” The tokens will be able to purchase mining accessories, Viabtc souvenirs, and the company’s BTC transaction accelerator.
“[The] Viabtc Token can be used as ‘gas’ and value transfer tool,” explains the mining pool. “We will add more application and privileges to it so that its holders can participate in the planning of Viabtc operations, building and improving Viabtc ecosystem together with the Viabtc team.”
Crypto-Companies Launching Incentive Tokens for Service Discounts Is Trending
Besides trading, viat will solely be used for Viabtc services only in order to bolster the firm within the blockchain industry. The Viabtc Token project is lead by the mining pool’s founder Haipo Yang, and the firm’s COO Huimin Ouyang. Viat will also be subject to a repurchasing plan and a burning process according to the viat ICO’s whitepaper.
“Viabtc will buy back and ‘burn’ viat with 20% of its quarterly revenue at the end of each quarter — This will reduce the total amount of viat steadily on a benign deflation model,” the whitepaper details.
The repurchase details will be announced timely and the ‘burning’ transactions are available for checking on the blockchain to ensure transparency.
Cryptocurrency companies who have created incentive-based tokens for certain services and privileges have done well over the last year. For instance, the trading platform Binance and it’s BNB token has managed to position itself at the top 14 highest market valuation out of 2,000+ digital currencies.
Viabtc’s exchange Coinex and its CET token also use these coins for incentives and CET is currently worth around $ 0.03. According to the trading platform’s data this Tuesday, viat is trading for $ 0.04 per coin and has over a million USDT in trade volume.
What do you think about the Viabtc Token (VIAT)? Do you think there will be more big ICOs using the Bitcoin Cash network? Let us know what you think in the comments section below.
Images via Shutterstock, Viabtc, and Coinex.
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Seems Anthony Weiner has been a good boy—for the first time in a while. The former Congress member is having his 21-month sentence for sexting with an underage girl reduced due to good conduct, the New York Post reports. The Federal Bureau of Prisons says Weiner’s time at the…
By July of 2019, Rep. Ro Khanna (D-Fremont) aims to see the House of Representatives pass landmark legislation shielding consumers from the onslaught of data breaches and the anxiety and confusion over the misuse of their personal information on the web.
To nudge such legislation along, Khanna…
Jeff Bezos recently became the richest person in modern history , and on Wednesday came another milestone for the Amazon founder: For the first time since 1994, Bill Gates has been unseated at the top of the Forbes 400. Bezos is the first new No. 1 in 24 years, with a…
For the first time ever, a strain of hepatitis E that heretofore only affected rats and ferrets has infected a human. The case occurred in Hong Kong, where a 56-year-old man living in public housing contracted the disease, the South China Morning Post reports. It’s a “wake-up call,” said Yuen…
Italy’s new populist government has until Sept. 27 to make a difficult decision: How to reconcile its expensive election promises with the reality of the country’s fragile finances.
WSJ.com: What’s News Europe