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Solutions to grow and scale the project
The token generation event (TGE) is a huge milestone for the project. However, once the project is launched and the celebrations simmered down, it's back to doing the hard work to ensure the project can grow and scale to higher levels.
As such, the financial theory for the tokenomics behind Venom is Token Optionality.
We measure Token Optionality by token utility. The team will work to provide a large range of options that the token can be used. For example, one way is to purchase items in crypto vending machines around the world. Other examples include providing liquidity in several decentralized exchanges or placing the tokens into a staking pool for yield.
Token Optionality is assessed with a set of questions:
- Where are all the places people can put the token and receive value back?
- How can we increase the number of places we can put the token?
- How can we increase the value people will get back?
By providing answers to them, what we are doing is increasing the Velocity of Money. If we can increase the range of goods and services that our token can plug into, we will increase the velocity, therefore increasing price.
In the end, the ultimate goal for the token is to be a commodity. Two examples of planned integrations include:
To facilitate the aim of creating a community-driven ecosystem, the team at Venom plans to be an early adopter of ChappyGPT in Q2-2023. By implementing a truly decentralized Chat2Earn platform, the community will be incentivized and rewarded for chatting, engaging, creating and interacting for Venom.
The mission of the ChappyGPT team is to, "Empower online communities and individuals through crypto rewards." By using this system, the community can take control of their online presence and translate their engagement into real value. This is accomplished by the team setting rewards for tasks and activities with integration into various social media platforms and applications. Community members will be able to enroll and then receive rewards to their selected wallets via a simple user experience.
IvendPay is the world’s first multi-currency payment system that allows you to accept payments in any cryptocurrency, electronic money or Fiat. In Q3-2023, we intend to integrate Venom into the IvendPay payment service. With 5 countries already with the solution, 60 cryptocurrencies, 50 vending machines, and 500 Point-of-Sale terminals so far, this system adds to the token optionality mentioned above: Holders will be able to pay with it as a means of payment.