I’ve seen a lot of FUD online, but this really puts a sour taste in my mouth. I’m no way trying to convince you two about changing your already made minds. The issue of “wash trading” can be tracked and monitored of ANY Blockchain if you put in the time. They even created VITC Scan as an alternative on-chain explorer, why go through the effort of building these systems just to wash trade for our eyes to see?
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I completely disagree with this perspective that low trading volumes = no value/bad idea.
Price/Liquidity is important and I know that if the grant approves VITC will stop at nothing to improve both of them constantly as they have been since the creation. Raising money without a presale, ICO, ISO of any sorts is extremely challenging.
At one point Harmony wasn’t top 100 cryptocurrencies, didn’t have active trading volumes on CEX’s nor DEX’s, but it still survived despite the growing competition of EVM Chains. By this way of thinking, all of the buy/hodl liquid memecoins in existence are better projects more so than lesser liquid utility tokens that most don’t know about or even care to learn about themselves. Most people trading these assets are expecting to buy low and sell high; furthermore, this is barely the only source of AMM liquidity for VITC either the total is closer to $20k across ONE, BSC, and LUNA. VITC holders will always have access to the non-KYC log book style DEX, ViteX, that is built straight into the wallet which allows us to make buy/sell orders in any amount, at any time and if the price is worthy enough to sellers it will be fulfilled. If someone made a huge illiquid swap rather than researching VITC’s other options that’s on them!
There is currently less then 12.2% of the total supply circulating, most of which were distributed on-chain VITE via all the VITC utilities- tipping bots (community events/airdrops/PoS), staking rewards, withdrawal fees (when bridging VITC to ONE, BSC, LUNA). These are just some reasons as to WHY people are HOLDING not TRADING their FREELY obtained tokens on Vite’s Blockchain (VITC’s Native chain) rather than bridging and trading it on Harmony or the 2 other bridged blockchains. Again the current utility of VITC resides on Vite, not Harmony, not Terra, not Binance Smart Chain; however, a grant would provide the incentive to expand utilities to VITC-ONE, not just VITC-VITE.
Is there currently any incentive to hold ONE-BSC anymore other than to provide liquidity or trade?
Since there is more liquidity for ONE/BNB on PancakeSwap then ONE/UST on ViperSwap it means ONE on BSC is the best variant of ONE it can be in terms of utility right?? No!!!
By no means am I attempting to convince your already made mind but rather provide insight for open minded H1 holders who are reading this thread. VITC is #55 on Top Pairs (Tracked) for ViperSwap and for a foreign token to bridge and beat out hundreds of Native ONE Tokens, I’d say it’s more impressive than you’re giving credit for especially with just 2 months, and numerous market crashes in-between.
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The entire amount of the money asked in the proposal goes as expenses; with no money being spent for the users or the people in the ecosystem or as liquidity promotion etc. In buisness perspective only the investments may have a future return and expense don’t have a future return. Here about 60% of the money goes to Dev’s pocket.
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Great question, thanks! 
The DAO benefits DIRECTLY from development.
Almost all (100% so far) sources of revenue generated from services and products, which come from development, are redistributed back to DAO (token holders).
Devs are also token holders as well and receive dividends from it, just like regular users.
Devs are assets generating revenue, not an expense.
All promotions are rewarded in Vitamincoin as a distribution method, we don’t use hard cold cash for it.
Cash is use for operational expenses and devs where we cannot use vitamincoin to pay, and vitamincoin treasury are meant for distribution, we never dumped it on market for expense.
Not sure what you mean with money being spent for users? If I understand it correctly, then we always have contests lined up for users to earn vitamincoin for free, and vitamincoin is generating ~15% APR dividend daily mainly in Vite, USDT, AVAX, FTM, UST, LUNA etc any token that are bridged by us.
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Vitamin coin is where it’s at
Love how it operates not just as a move to earn token but a DAO and being the healthiest crypto in the space
It’s my only vote as well
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Explain development
What products and services do you provide ?
I think I have a better idea. Dev’s can generate revenue with their acquired knowledge and skills them pay for themselves with vitamin coins ?
The idea :
- Create a DEV fund DAO and Expense DAO (no expense required)
- mint VITE ( yes you can for paying Dev’s salary through DAO)
- Sell VITE in token the market for a stable coin/ pay in VITE for all the mentioned expenses in the proposal (250k)
I think, the above mentioned is far more sustainable in the long run because 250k from harmony is a limited amount and it will run out soon. So paying with VITE is far more sustainable because it adds value to the ecosystem users as VITE is being used to generate revenue (as you have mentioned). This idea adds utility to the token as more VITE is used to development and bring in adoption to VITE.
So going with the above idea, 250k from harmony is not needed.
I would suggest applying in PORTS section to fund the project for porting over to harmony.
Pic unrelated
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@mohanarvindk
Highly recommend you read this post from VightClub that I am replying to, it is very thorough and answers Development and Product question.
For the second question regarding expense, disclaimer I am not the treasury manager, that would be Kript so he can answer you better, and to my best understanding of your idea.
We are currently paying devs in a hybrid model, with both Vitc and Vite. Vite is from treasury reserve, 20% of daily SBP node income, which is spent on operational expenses, such as developers salary in this case.
Devs, if needed, can then sell Vite to fiat for their needs, afaik I don’t think devs sell their Vitc either, it is just not worth it, but it is their salary, and as a matter of freedom personal finance, they definitely can sell their Vitc.
So we already doing it and it is relatively sustainable, most of our devs are friends and you may call it they work for free for future potential gains, but some of our devs also need fiat here and now to support their life as well. Everyone loves the project and none of the core team (including all of our devs) left so far.
The issue is the lowering fiat price of Vite and market turmoil which tighten the capital every day and requires us to seek out more sources of capital.
The bottom lines are we can do things, we need more capital, if there are grants and all it takes is the effort to build, why not, that pic summed up things.
Since you are already in Discord (much appreciate it, you actually research us), check out our DAO-Discussion channel, it is where our serious talks going on.
A ground of reality, like every other project, we are not without flaws and problems of course, such as community management needs more improvement, marketing, etc but products are being delivered constantly, dividends are coming in daily, and the team is stellar, you can check all of these on Discord.
All of the above are my perspectives, I am a community management staff, and I don’t speak for everyone else nor are any of it official statements of the project.
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I think that screenshot is really unrelated to the topic. You just cut that out of whole context. Usually ppl do that when trying to discredit someone at all costs.
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I can be a bit crude at times, that’s true. But the statement does say we’ll use the money to develop and grow a community on harmony.
I’m quite sorry you feel that we’re “full of it”, but the community, the project, and all the development we’ve already done speaks for itself. We’re very much not “full of it”.
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Look, forget about this. I don’t mind crude.
Can we be real for a sec? If you can be real about what you are doing this will take you far, especially with those that are now (fairly, constructively) criticising you.
- the grant ask is way too high (WAY too high), 50k for project management — that’s full time yearly salary for someone managing multiple such projects and depending on where you are from, it can be even more than that
- you intend to spend almost entire amount on yourself and your team payment, no value add. Can you explain what the difference will be if you receive vs not receive this grant?
- you don’t present how you will attract investors and TVL, zero path towards that and the current numbers are laughable (and I don’t mean to sh*t on your achievements, just being real and honest)
- you are literally using centralised, manual “proof of sweat” your new invention. How is this valuable to ecosystem? I could do it myself (create discord) in just few clicks
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Thanks for hope giving us this opportunity
Give up on this proposal man…
It’s dead in the water!
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I have mentioned it there ‘pic unrelated’
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The people of vitamins and community is a community-minded coin before them of their health. You trust your project so far is one of the few communities. Moreover zero commission. It will continue to progress confidently towards stronger way with Harmony. Vitamins are the love of money is the name of love.
Always vitamin coin
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Please remain respectful and constructive. While we encourage discussion and constructive feedback, we require that it’s done in a respectful manner. Antagonistic behavior will result in a temporary ban from the forum. Thank you and we hope you understand.
Thank you 
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That just means everyone wants to make an account to let others know what vitc is all about. Like mine of course.
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It’s made to do half thing with health. And the rest half with crypto as in Dao. Read whitepaper than say please.
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Only you guys make it sound like it. Vitc could’ve become like stepn and all you guys would like that lol. But it has not after been money and thus it’s ultimate wall became the money. Which we hoping Harmony will help with. Vitc is one of the best project in VITE NETWORK.
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Hi Kript, thanks for the clear explanations. I am new to the crypto ecosystem so it’s helpful to see the conversation.
I am interested in your project because I am committed to supporting ways of making being healthy easier.
I have two questions:
- I appreciate how all the funds go to the holders of the coins. Where do the funds come from? Is it only when people buy coins with other coins or dollars?
- Are you familiar with the StepN crypto project? They may have some aspects you can model or improve on.
For example earning for eating or earning for sleeping. These are two other key elements to health improvement.
Lastly, let me know how else I can support your vision.
Best,
David
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Im going to be straight up , fuck you guys , stop trying to rob Harmony
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