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VinuChain Coin (VC)
The VinuChain Coin (VC) is both the governance and gas coin of the VinuChain Protocol.
VC is both inflationary and deflationary.
- Inflationary: A VC reward is issued to Validators for each new block.
- Deflationary: 30% of every gas fee (paid as VC) is burned.
At TGE, there will be 1,000,000,000 VC total supply, allocated as follows:
- 50% - Ecosystem Development (e.g. user rewards, developer grants, etc.)
- 25% - Project Development (e.g. marketing, developer costs, etc.)
- 9% - Foundation Allocation (i.e. Vinu Foundation)
- 10% - Private Allocation
- 5% - Public Allocation
- 1% - Airdrop
However, circulating supply at TGE will be 82,500,000 VC (8.25% of total supply).
VC will be unlocked slowly over time as per the following chart:
There is no maximum supply, as each new block issues a small amount of new VC to incentivise Validators to secure the network (which may be offset by the VC burned from every gas fee).
The gas fees (denominated in VC) within each validated block on VinuChain are distributed as follows:
- 1.70% VC to Validators
- 2.30% VC Burned
Users who stake to receive feeless transactions receive their eligible gas costs back within 24 hours, from a pool separate to the above.