Expansion of VitaminCoin DAO to Harmony

Governance DAO Proposals
41

I have been following the VitaminCoin project since its inception. This is a great team and friendly community. I believe that they have a great and promising future.

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42

Hey, we’re here to support a good project vitamins dao everyone proof of this, I think that deserves to be here in beautiful places

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43

Let’s peel it down more. Addressing point #5.

Total liquidity on viperswap for this token is 5.7k. Last 24 hr volume is 2.4$ (literally two point four dollars, couldn’t buy a coffee with this volume).

You’re requesting 250k in funding. Does this still need an explanation how out of absolute WHACK this discussion even is? You couldn’t execute 5k trade (which represents 2% of your requested funding).

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44

I am done with this. To the harmony team, if you don’t clean this entire thing up (not just this application, the whole mess you created), you’ll lose the rest of actual investors. This is PR disaster.

The few people with modicum of common sense who are going around these forums trying to do leg work for you (for free smh) are going to leave. You can’t fight BS that comes at you in troves. It’s death by thousand cuts.

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45

Hey!

I would like to address the liquidity concern.

This project from it’s inception has had no ico, no ieo, or other sources of outside funding other than a sponsored primary node on our base chain.

The intention from the start was a free distribution model based on incentivizing exercise and community involvement. The downside of this framework of course is very limited capital, with which we pay for infrastructure, listing, and use to bootstrap limited liquidity on chains we bridge to.

We certainly plan to lock more liquidity as our revenue streams grow, and look into other ways to grow liquidity.

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46

they’ll start doing wash trading…

47

We’re on four chains, and wash trading isn’t something we’ve ever done, nor will we. This sort of thing is very easy to see in Blockchain data, and you’re more than welcome to take a look yourself to verify.

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48

This project doesn’t deserve 250k in grant funding. In fact it deserves zero funding. Don’t rely on grant money to pay devs. If you’ve been on 4 chains you should focus on being successful in one before expanding elsewhere.

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49

What grants are for if not for paying dev?
You seem to misunderstand the premise grant scheme.

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52
  1. A disaster is in the eye of the beholder.
  2. Either sit and do nothing or take failure and a chance to grow. Do nothing guarantee a total failure though, this is what Vitamincoin has been doing so far and everyone laughed at it, including me. Guess it worked out since we are not just surviving but growing, and propose a grant for it. Guess it worked out for Ethereum, Gitcoin, HarmonyONE, and Vite, …
  3. A person with a modicum of common sense knows the values of taking good risks, that no one can force them to do anything but themselves, and that not a bacteria will care if they leave or not, because that is life, that anything and everything have to do with human are bias, thus no one should ever communicate to each other because it is all biases.
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53

Hey man I will not make a comment regarding the project itself but 75/80 % Of people commenting supporting the project have created their account just to make the post then inmediatly left , it seems quite dodgy and I can identify patterns that are recognizable in other money grab DAOs

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54

A small image of our economic model.

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FNq_wrXWUAYRsyi795×444 32.9 KB

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55

Appreciate your reply, it is understandable and definitely a red flag in my eyes too - Source: “Trust me bro” I hunt these types of things.
Posted a very long message with more details about us currently waiting for review.
TLDR of that post: Fundamentally a DeFi project with a health theme, verifiable with a proven track record of many functional projects being used on the Vite chain, limited capital, organic growth so not much volume.

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56

Vitc Is a great project for your diversity and value for us and for the community health, is the progress of the humanity

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57

Ok I told myself I’ll stop because it’s becoming too much but here we go

Are you this damn dense? It’s called a grant, not an employment, does it? I said don’t rely on grants to pay devs and you straight up have intention to “pay” the dev 150k. I said “pay” because YOU won’t pay, you want to “pay” with somebody else’s money, aka YOU want to rob.

Btw, for the sake of transparency, can you disclose what your relationship with the project is? Because after the discussion has been ongoing for a while, you create new account and seem to be very invested in this. Are you sure you are just random supporter or maybe, in fact you are the dev, or someone on the team?

Another thing: you have clearly taken this personally because you are commenting using the same phrases I did (care for original thought? Or you just want to mock those who criticise you fairly?).

Taking good risks would be something to talk about if this wasn’t bad candy-wrapped cash grab, like 80% of those grant applications.

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58

Hi, it is taking ages for that long post to get reviewed if it ever gets through at all, it contains pretty much everything in there.

It is not a full-time job DAO, more in-line with an enthusiast project where everyone contributes with their spare time, most of our devs have main jobs and do this in their spare time, whenever possible.

I put disclaimers in that post, definitely someone on the team.
“I am community management staff with weekly payment in vitamincoin, but I can get way more from a working a day in a part-time job”.
All my opinions are my own though and others may have different perspectives about the project.

Yes, I clearly took that personally, because it is the entire reason for grants IMO, for countless projects, to fund the developments, your critics have both good and bad, some are legitimate questions show the problems we are currently dealing with, some are Judge Dread without doing more in-depth and thorough research, I understand you have to read through tons of these posts every day though.

There are better ways for cash grabs actually, spending time doing infrastructure development and pay for devs to build utility and functional products is not.

Thanks for good critics, appreciate it. :slight_smile:

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59

well said bro… it’s better to discuss all concerns, then go only hype way.

60

Despite the negative comments, I just joined the Vitc community recently and want to say it’s a great project with great potential. I am hopeful and I am glad to be part of the community. I hope this proposal gets accepted.

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61

Hello, VITC member here.

Within my observation, the VitaminCoin team has been doing their best not just maintaining the community, but also improving the Vite ecosystem. Efforts include, but are not limited to, the Proof-of-Sweat system (which has been around before it became a trend recently), various fun quiz events, assets bridging to Vite, and many more.
One problem we are encountering, however, is accessibility. The VitaminCoin team is currently adding VITC to Harmony, BNB Smart Chain, and Terra, in order to allow everyone to expand their investment potential.
The granting of this proposal could be of a great help for the team to build VITC further on, especially within the Harmony ecosystem. Hopefully we are able to make it.

All my regards.

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62

I should start this mini thread by saying that I’ve been a community member of the Vite Ecosystem, and am actively involved in the communities of not only the Vitamin Coin project but all of the Vite Tokens.

Upon learning that Vitamin Coin’s team is looking to expand into a fast growing Ecosystem like Harmony really caused a huge smile upon the future for VITC and ONE. Kript is an amazing person at the helm of this project and has always managed to keep a professional, transparent, and fun way of reaching people across the globe. I know I might get some crap from long timers of the Harmony One Ecosystem for us of the Vite Ecosystem only now creating an account, alas I don’t believe this should matter since there is a bunch of friendly new faces to gain from a partnership between the two projects, and it should go without saying that that we are here to criticize the ideas not the peoples new ideas bring. Although my experience in the realms of Harmony are limited to adding liquidity to ViperSwap, and messing around with DeFi Kingdoms, I can confidently say that ONE blows BSC out of the water from usability and decentralization especially when factoring in gas fees. Vitamin Coin is in dire need of more attention and community members while I feel as if Harmony is in dire of need of life changing/ community building projects that make a true difference in our day to day lives.

Not many people might be aware of an existing partnership of Harmony and Vite Labs (the creators of the Vite Blockchain.) which could provide many solutions to the interoperability of Harmony. Vite’s blockchain does not charge ANY gas fees, does NOT have any latency, or energy wastage on-chain. Many of the newer people to Vite’s Ecosysetm are originally from Nano the feeless/no smart contract cryptocurrency that are not entirely familiar with the “Ethereum Standard” blockchains.

Currently on-chain VITE there is no:

  • Liquid “swap” AMM DEXs
  • Custom NFT Marketplaces
  • No Token Governance (other than voting for Snapshot Block Producers with Vite daily.)

Vitamin Coin is aiming to provide ALL 3 on-chain VITE within this year, with DAO Governance & NFT Marketplace around the corner. Although what Vite currently does have is a Gateway (provided by Vite Labs) for both ONE-BSC & ONE-Mainnet of which I have used many times only paying 0.5 ONE per withdrawal waiting less than 10 minutes every time. Personally my biggest current issue with ONE is acquiring it from centralized exchanges at a fair price (especially within the US.) Even though ONE is listed on the ViteX DEX there is absent liquidity for BTC/ONE trading, I would hope to see Vite Labs piggyback this grant and do something to help strengthen their VITE x ONE partnership.

Many people are skeptical of VitaminCoin and may not be inclined to research more themselves in-depth so maybe I should list some of the already completed accomplishments of VITC that might peak ONE veterans interest to do so, since it’s creation from just last summer:

  • Vitamin Coin SBP: Sponsored by Vite Labs, all of the holders of VITE can vote for the VitaminCoinSBP getting airdropped daily rewards in VITE & VITC every 24 hours.

  • 4 Tipbots: Across Discord, Twitter, Telegram, and Reddit (Twitch in the works) that can utilize ANY token or bridged asset on Vite’s Blockchain, including ONE bridged via Vite Labs. All of the Tipbots even use the custom made block explorer- VITC Scan!

  • Experiment DAO: The Gateway that bridged Vitamin Coin to Harmony, BSC, and most recently Terra. eDAO Gateways also benefit the VITC DAO with the withdrawal fees on-chain, which include LUNA, UST, AVAX, FTM, WAXP and other token(s) from BSC & XLM which are paid in the asset of choice respectively. Ex: Hold VITC → Get LUNA (based off of LUNA withdrawals.)

  • BeefStake: Zero fee/ Gas free multi-chain token staking platform that allocates staking rewards in VITC for holders of eDAO bridged assets or other partnered tokens on VITE. I don’t think staking ONE for VITC has been ruled out entirely, so perhaps if this grant is approved we could see staking incentives in the future!

  • Proof-Of-Sweat App: Currently in the early testing days, to help distribute the saved supply to the healthy walkers/runners of the world, while maintaining security against PoS abusers. 7k Steps a day for 250 VITC! Someone within our community already lost 10kgs (22lbs) from the motivation that VITC has brought her, she isn’t the first and certainly won’t be the last.

  • Family/Community: Personally I believe a lot of tokens primarily, animal memecoins, have created extremely toxic if not cultish identities for their crypto-communities that easily prevents new people from taking Vitamin Coin (and other new ideas) as a serious utility token. Our community feels like family, everyone from new members to veteran holders to community moderators to VITC’s Team is connected in someway. There has been endless amounts of community held events that really make sad days a lot happier with laughs. Trivia days are getting really popular, work out events are always encouraging us to get more healthy, multiple talent shows, art competitions, eSports gaming tournaments, and I even run the weekly UFC Events, where I host a group on the ESPN Fight Night Pickems, and everybody who chooses their fighters gets VITC participation rewards! In-depth discussions for VITC DAO on the Discord are my favorite, everyone has a valuable perspective, many new ideas have been formed within this place, I even suggested to the VITC team to bridged their LP Tokens from other blockchains to provide staking rewards on Vite’s Chain! Ex: VITCwONE LP Token → eDAO Bridge → Stake LP Token on BeefStake for VITC → withdraw back to Harmony chain for a very minimal fee.

I appreciate all members of the ONE Ecosystem who continue researching VITC beyond the proposal and this mini thread. I highly recommend that you join the Discord to see first hand how actively alive our community is, how we actively use VITC in our servers, and signing up for the VITC DAO. We are all extremely excited about what the future may hold for VITC x ONE. I personally “WAGMI” is lie, but I do know that VITC will find a way to succeed in making the world’s health it’s wealth. <3

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