vEmpire DDAO - A Metaverse Integrating DeFi, NFT, and DAO
vEmpire DDAO is a protocol that allows the “DeFi style” collateralization of Metaverse assets. It is a project integrating core application scenarios such as DeFi service, mine pool staking, NFT, and DAO.
vEmpire has established a Metaverse called the “Empire.” VEMP holders can buy land, Colosseum, and trading cards, carry out liquidity mining, and NFT staking.
Based on the Metaverse, vEmpire has set up Tokenomics such as liquidity mining and DAO governance. vEmpire DDAO distributes the value generated by a handful of mining pools and LP services to stakeholders. DDAO functions as a cooperative. Stakeholders obtain vEmpire’s VEMP by providing collaterals and receive part of the fees from supported DeFi services, mining pools, NFT, and any fees contributed by DDAO through the staking mechanism.
VEMP can be staked pro-rate xVEMP to grant governance rights to all operational issues provided by the DeFi service. The revenue generated will be given to the xVEMP holders. Staking derivatives will also be enabled through a lock pool supported by the DeFi protocol.
A reasonable NFT project must have three core elements: decentralization + governance + incentive. xVEMP realizes decentralized governance and community incentives through DDAO and DeFi, and realizes the circular economy in the Metaverse.
As seen from the vEmpire whitepaper, vEmpire is an original Metaverse + DeFi project with DAO’s nature. The native asset VEMP can be used for trading card winner rewards and liquidity mining, which is closely related to stakeholders.
Not long ago, vEmpire launched the treasure hunt card NFT “The Emperor’s Parchments.” Each first edition of NFT will show clues such as letters and numbers. Participants can unlock the reward of 1% of the total supply of VEMP.
Upon the successful launch of V2, the purchased land and estates will be monetized and the virtual empire will be rebuilt according to aesthetics. All profits will be distributed to the DDAO. The first parcels of land may be;
- Embassy and NFT art gallery for purchase of transaction cards and vEmpire wearable devices;
- A Colosseum, gladiator chips, and NFTs;
- Chariot Racing Track, chips, and Charioteer NFTs;
- Army Barracks & Bedsit, MANA charged per “nights stay”, When Decentraland accepts VEMP, VEMP is deposited in the wallet and can be exchanged for valid services.
The governance token of vEmpire is xVEMP. VEMP holders can stake their assets for xVEMP. This will give them rewards and voting rights in DDAO, which will enable them to control the Empire’s invasion, conquest, and expansion.
In the past, the standard voting rights of DAO depended on the number of governance assets held by voters’ wallets rather than democratic voting. This means that founders, developers, and high net worth investors have an advantage over many in a standard DAO.
However, in terms of democracy and governance, soldiers, officers, and generals in the vEmpire universe will have the same voting rights. Therefore, all wallet addresses with a value of more than $10,000 USD xVEST will have one vote. If the unit prevents robot voting, vEmpire will set a certain threshold, and addresses below a certain threshold will be reviewed and even banned from voting.
The loyalty rewards, promotions, or welfare activities are always based on loyalty. The difference between DDAO and DAO is that they are rewarded according to the time invested rather than the amount invested. Of course, as mentioned above, this is easily abused by robots, so the minimum xVEST value required to obtain the following ranking should not be less than $10,000 USD. Promotional activities can still be obtained at xVEST addresses with a value of less than $10,000 USD, but these addresses would need to submit a review certificate to be reviewed.
The DDAO (as an example) sits at 30% APY, which is gifted over the next 6 months. 6 months later, a new Soldier joins the Empire and stakes 1 VEMP.
The VEMP is worth 0.836 xVEMP as the xVEMP has had 6 months of rewards already paid at 30% APY.
After 1 year (6 months from the above example), at the same APY, 1 VEMP is now worth 0.7 xVEMP.
This will incentivize early adoption, as xVEMP should only increase in value over VEMP:
DDAO Launches — 1 VEMP = 1 xVEMP
Day 1 Soldier stakes and receives the above as no rewards have yet been distributed.
The DDAO (as an example) sits at 30% APY which is gifted over the next 6 months.
6 months later a new Soldier joins the Empire and stakes 1 VEMP.
This VEMP is worth 0.836 xVEMP as the xVEMP has had 6 months of rewards already paid at 30% APY.
1 Year later (6 months on from the example directly above) at the same APY, 1 VEMP is now worth 0.7 xVEMP.
This incentivizes early adoption as xVEMP should only increase in value against VEMP.
Note: This article is for information sharing only and does not constitute any investment suggestions.
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