Tokenomics — The beauty of vtag with vtcash

vtag, the Exchange Token, is available in ICO token event and will be listed on crypto exchanges.

• It will be issued during ICO for sales and listed in crypto exchanges
• Once changed to vtcash, vtag will be locked

vtcash, the Trade Token (or Transaction Token), is used in the Food Supply Chain Ecosystem.

• It is the key to unlock vtag that have been converted to vtcash and locked. Once vtcash is used (spent), it will be burnt.
• It is pegged to USD to stabilize prices of services that can be purchased using vtcash.
  vtag or vtcash can be converted within veriHub wallet.

The following examples illustrate vtag token economics in details.

https://www.dropbox.com/s/bzwlif7hdjtrmi9/illustration%20of%20vtag%20token%20economics.png?dl=0

This means, increase in usage of vtcash within the ecosystem will lock in more vtag. Increase in value of vtag will result in less vtag being able to be unlocked, naturally burning vtag (permanently locked) in the process. (Patent has been apply on this)

To ensure a good usage of vtcash, veriTAG will facilitate the usage of vtcash in our ecosystem by encouraging its usage within the system. These vtcash will be utilized for the following:

> Reward scheme
- % Rebate in vtcash for merchants who paid for veriHUB services for a year or more. Note that this is paid in FIAT
- % Rebate in vtcash for merchants who subscribe to more than 3 SKU under veriHUB
- Referral fee in vtcash for introducing more merchants to join the ecosytem

> veriHUB services: Having trade finance, marketing services, logistic services available only through vtcash with our partners

> Joint fundraising for sales of vtag. Part of fund from vtag sales can be given out as interest free loan through vtcash to needy merchants who are unable to raise fund on their own but has assisted us in our token sales

veriTAG will purchase vtag to ensure that enough vtcash is converted from vtag for merchants to utilize within veriHUB wallet. Purchase will be from open exchange instead of reserve to reflect the actual demand of the ecosystem.

There will be scenarios where vtcash can be subjected to abuse. Our wallet is designed with specific functions to prevent this. Below is a table illustrating this.

https://www.dropbox.com/s/w034nnn1r3mm37e/table%20illustration.png?dl=0

So, what do you think?[/list]

They have a well defined history of tech innovations and roadmap, along with an enviable partners list. They are already having a partnership with many vendors generating a lot of confidence in the project.

Hi there, yes this ICO is happening. Check out our website - www.veritag.org.

Interesting concept, I will surely follow its development. The tokenomics seem interesting, yet a bit complicated at the first sight :-)