Expansion of VitaminCoin DAO to Harmony

Name of DAO

VitaminCoin

Proposal overview

The VitaminCoin project is currently is in an expansion phase, which started with the bridging of our token to harmony from VITE. VitaminCoin started out on the VITE chain in July '21, with the aim of incentivizing healthy behaviors through an (at the time) unique move-to-earn program that pays participants with project tokens for hitting certain daily goals, such as hitting a certain number of steps a day. Currently this is accomplished through discord using a custom built tipbot, and a dedicated team of people verifying goals are hit before payouts.

In addition to this initiative, VitaminCoin has built a robust profit sharing system to holders of the project token, the VITCDAO, through sharing node rewards, bridge fees, trading fees, and other sources of income. Nearly all revenue brought in my the project is returned to holders, thereby building an intrinsic value to the token, helping to maintain value of the token to offset inevitable selling from rewards given in the move-to-earn program. In addition, these holders make up the VITCDAO, which will/is participating in voting guiding the decisions and direction of the project.

As mentioned, VitaminCoin was bridged to harmony around 2 months ago, and is tradeable on viperswap.

Currently we have over 3000 discord members, the vast majority of which are active and participating in the move-to-earn program. We have over 2000 twitter followers. We’re currently in the final stages of releasing a stand alone app (with robust anticheat measures) for our program that aims to bring in many more people with the removal of discord being the primary base of participation.

Milestones are mostly based around hitting development goals. We would like to leverage the harmony chain to involve the use of NFT in our program, in a similar fashion to how other projects have expanded participation through them, but with the goal being increased involvement and not gatekeeping participation through exorbitant nft costs. to accomplish this is going to require additional developers beyond what are already part of the core team. This is the primary purpose behind the request for funding.

Most of the gaps in our team are related to capital expenses like development costs and marketing.

Proposal ask

We’re asking for a bootstrap amount for $250,000.
These costs are projects to be used in the following buckets.
$50,000 For Project Management
$150,000 in developer salary
$50,000 in operational, infrastructure, and miscellaneous expenses.

Metrics for success

Primarily we would like to aim for a first goal of 10,000 users, expand the project into the Harmony ecosystem via a move-to-earn program, and grow into a self sustaining project. Once these goals are hit, we plan to follow with partnerships and integration into existing fitness and health apps, thereby increasing exposure and impact beyond the existing crypto space.

External links

discord.gg/vitamincoin

58 Likes

I’ve been following the VITC project since its inception, great values and awesome community that pioneered the whole DAO community dynamic on the Vite chain. Can’t wait to see it help the harmony ecosystem thrive!

6 Likes

Huge fan of VitaminCoin and the whole community. It’s been my one and only vote from the beginning! BeefStake is incredible, plus I’m really looking forward to the VITCGovernance and NFT platforms soon, and love the proof of sweat app. How many coins actually care about your health and your wealth? It would be amazing for the $vitc movement to receive a boost like this! Can’t wait to hear more! :pill::alien::pill:

8 Likes

Amazing!

I am glad this was posted in DAO category so it won’t escape my attention.

Thankfully, I found the token (couldn’t get it anywhere from website).

$5.7k liquidity on viper with $1.7M valuation. Outstanding numbers!

Also, this excerpt from whitepaper:

“Proof of sweat”
In order to incentives healthy living, we have introduced a “proof of sweat” idea in our Discord community. Members of our community would be rewarded with VITC for providing proof (via screenshots) that they have exercised on that day.

What a wonderful way to bring proper decentralisation to Harmony. Pair it with the fact, it’s apparently a DAO, what’s not to love? :blue_heart:

This easily deserves $2.5M grant, rather than measly $250k, EASILY!

11 Likes

I have a lot to thank VitaminCoin, especially for the proof-of-sweat (move2earn) that motivates me to go for a walk especially when I don’t really feel like going. Amazing project, great potential in promoting healthy habits, gathering the people from different industries (health, pharma, fitness, diet advisors). Big thanks to the VITC team for managing the project in the best possible way, greetings to the awesome Polish community (Polska Gurom), and best wishes for a strong bond between Harmony and VitaminCoin!

:harmony: :pill: If you want to go far, go together. :harmony: :pill:

:poland: :mountain_snow:

5 Likes

Really puts a damper on proposals to see so many new accounts created right after a proposal drops.

Sorry VITC I would consider this a SOLID NO.
The Harmony team might deem otherwise.

Good luck!

8 Likes

The vitamin coin project has found the sweet spot between fast, feelers crypto and incentivising users to get healthy.

They are doing simply amazing things by bridging other tokens to the VITE, offering a staking platform and developing an innovative not platform. This team is one of the best!

With all these in mind, I believe they can bring so much more to the harmony network.

4 Likes

i dont think core team will get sarcasm tbh
also its akward how most accs supporting this were made recently

4 Likes

I think it’s fair for members of the vitc community who haven’t created accounts here to join and express the reasons why they support Vitamin Coin right? After which, they have the ability to interact with proposals unrelated?

5 Likes

Our accounts might be recent but we are all here to support a project we love. Nothing wrong with that.

5 Likes

Project VitC has brought together a team of like-minded people who are revolutionizing crypto. VitC is winner of several hackathons. VitC set trends before it becomes mainstream. thanks vitamins. :heart::clap::money_mouth_face::running_man::basketball_man::surfing_man::rocket::pill:

5 Likes

come to our discord. there are old accounts and verified by a special system. the team heard your sarcasm))) indeed, we all have new accounts on this platform.

6 Likes

This is really exciting, people getting paid to improve their lives. Hope this project gets the funding, love the idea!!!

3 Likes

the pay for people to improve their lives is the improvement itself, this is a late stage capitalism thing

3 Likes

Improvement in health and improvement in wealth. Gotta love it.

3 Likes

It’s too bad you and amartay1986 post negatively on so many proposals that I’m seeing. It’s okay to be happy and look at the glass of life as half full, not empty. Come join the vitamincoin discord for new friends. Cheers and best of luck to any project you may be asking for support on in the future!

3 Likes

Its mainly that we seek to protect the ecosystem fund from being spent on more things that dont/barely benefit the ecosystem while draining the ecosystem fund.
its not negativity.

3 Likes

Would love to hear your thoughts on our project ZYKO - have a look!

4 Likes

Thank you for your proposal

Please kindly explain the reason of this DAO, as this seems to me a launch fitted rather than a DAO.

Please refer to launch type of proposal

Also, the proposal you asking for, more than 50% of the allocation is on developer salary, which does not explain how this would benefit for Harmony instead of developer’s pocket.

Again, this is a launch type of proposal to me

4 Likes

I admire VITC team for what they done so far. Their DAO brings a lot of opportunities and makes them best multichain project on VITE network. Love that they gather community around health topic and encourage them to move. Thats really great that you can earn tokens by doing sports.

4 Likes