REWARDED
ACTIONS
Contributors are rewarded for the following actions:
• registering to the service (welcome award)
• referring friends
• promoting the service
• adding new profiles into the database
(points credited when the profile is verified by the editorial team)
• curating existing profiles
(points credited when the
SOURCING
DYNAMICSInitially, the bounty pool will be sourced upon ICO
with 5% of all issued tokens (10,000,000 VIB).
• For the first 2,000 days, we will distribute 5,000 tokens daily among contributors.
• Additionally, the pool will later be funded by a share of Viberate’s profits from exercising
our business models. A percentage of the earnings in ETH will be assigned to
unscheduled buybacks of tokens from various exchanges. Tokens will then be
transferred into the pool for further rewarding. While the percentage of profits that will
be designated for buyback will be known in advance, we will hold the buyback dynamics
a secret to prevent speculation and unjust enrichment from the speculators.
• Such dynamics allow for the uninterrupted supply of new tokens into the bounty fund
and at the same time positively influences the trading volume and liquidity of the Vibe
on exchanges.
REWARDING
DYNAMICSEach rewarded action will be assigned a fixed amount of points.
• At the end of each 24-hour period, the accrued points will be exchanged into
Vibes at the daily exchange rate.
• The exchange rate will be calculated according to the number of rewarded actions
in the respective period with a formula. The total daily Vibe budget will be divided
by the number of rewarded actions for that day.
• After the exchange, Vibe tokens will be credited to each user’s wallet and the user will
be able to redeem them for concert tickets and merchandize or exchange them for
other cryptocurrencies in exchanges that will list the Vibe.