VinuChain
  • VinuChain | VC
  • 📃Whitepaper
    • Whitepaper
      • Disclaimer
      • Abstract
      • Introduction
      • Background
      • VinuChain Protocol
      • Consensus Mechanism
      • Quota System
      • Network Architecture
      • VinuChain Coin (VC)
      • Conclusion
      • References
    • Tokenomics
    • Launchpads
    • Roadmap
  • 🧑‍💻Technical Docs
    • VinuChain Mainnet
      • Connect to Mainnet
      • Install Read-Only Node
      • Install Validator Node
      • Install API Node
    • VinuChain Testnet
      • Connect to Testnet
      • Install Read-Only Node
      • Install Validator Node
      • Private Network (Fakenet)
    • Nodes & Validators
      • Read-Only Node
      • Become a Validator
      • Update Validator Info
      • API Node
      • Delegation Calls
      • Lockup Calls
      • Reward Calls
      • Validator Calls
      • Troubleshooting
      • FAQ
    • Staking
      • Overview
      • Stake VC on VinuChain
      • FAQ - Staking
    • Smart Contracts
      • Deploy a Smart Contract
    • API
      • Public API Endpoints
      • GraphQL
      • REST API
    • Web3 Methods
      • gasprice.js
      • transfer.js
      • web3.eth.abi.js
      • web3.eth.accounts.js
      • web3.eth.contract.js
      • web3.eth.iban.js
      • web3.eth.js
      • web3.eth.net.js
      • web3.eth.subscribe.js
      • web3.eth.utils.js
      • .gitignore
      • LICENSE
      • app.js
      • common.js
      • constants.js
      • package-lock.json
      • package.json
      • yarn.lock
    • Cross-chain Bridging
      • Native $VC vs Wrapped $VC
      • Wanbridge
      • Add bep20 VC to Trust Wallet
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On this page
  • 7.1 Overview
  • 7.2 Initial Distribution
  • 7.3 Gas Fees
  1. Whitepaper
  2. Whitepaper

VinuChain Coin (VC)

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Last updated 29 days ago

7.1 Overview

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.

7.2 Initial Distribution

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).

7.3 Gas Fees

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.

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