Full Circle Plan
It is beneficial for everyone to grow together in parallel as we take on a unique journey to build a community owned DeFi protocol.
We have officially reduced the $VB supply to 100,000,000. This is an effective 99.5% burn which brings our fully diluted valuation to $1,850,000 at the time of writing. Moving forward, Very Banking will hold 10% of the total $VB supply to accomplish building the decentralized bank. At face value this treasury is worth $200,000. These tokens will be sold over time to scale and build the first memefied decentralized bank. We’re incredibly pleased to have the support of our community on this unique mission to build a gamified, secure, fair and decentralized financial ecosystem.
Official Treasury Address:
By committing to burning 99.5% of the total supply we have effectively put power and the majority of upside in the hands of our community in order to present Very Banking to the masses.
By committing to these key changes, both Very Banking and its core team can only succeed if its community profits which further aligns our long term interests. This is a naturally balanced give and take relationship. At this early stage our team will continue to make sacrifices and bootstrap Very Banking to create notable value as we anticipate growing into becoming a household name and achieve scale.
The Community Route
As a meme-focused project it made sense to transition Very Banking to an entirely community-driven structure to encourage growing together. This is one of the first major steps in our ongoing process to push forward a revolution in the blockchain industry.
How can you participate?
You can get involved in various ways such as: purchasing and holding $VB, introducing your personal network into our ecosystem, referring others to become protocol owners, voting in governance polls, or proposing improvements to the ecosystem. Our goal is to build a transparent financial system without intermediaries thus reducing failure points typically caused by human error or greed.
As an innovative DeFi protocol the Very Banking team relies on the support of its community to achieve a growing valuation. Unlike the traditional venture capital approach of arbitrarily estimating an initial value, raising funds and then executing on building, the Very Banking team cannot benefit or scale development with an extremely low market cap as it would not make sense to liquidate treasury at early unfavorable price levels. This concept enables our beloved community to be part of a community oriented project that has maximum potential right from the beginning.
|Allocation||Percent||Amount of Tokens|
|OTC for Liquidity||25.5%||25,500,000|
|Uniswap V2 Liquidity||4%||4,000,000|
To put valuation into clear perspective, the price of $VB needs to appreciate substantially for the treasury to support the protocols long term vision and scale. This provides a lot of upside for both current and future holders. The DAO has no intentions of selling treasury tokens until its value reaches a certain point where sustainability can be achieved, and therefore we have chosen to bootstrap until then.
OTC at Spot
Unlike V3, the migration to Uniswap V2 requires equal parts of $VB and $USDT therefore, we will have to OTC $VB tokens to add to liquidity. At the current price of (0.0096) we are looking at approximately 244,800 $USDT can be raised to balance liquidity.
This weekend, we aim to engage in further discussion about these changes on our forum and develop a roadmap based on market cap milestones, providing clarity on what can be expected to be released in the future.
The growth and success of Very Banking is now in the hands of its empowered community. We trust everyone to help us scale and achieve our goal of becoming the leading decentralized and memefied bank owned by its community.
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