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The VRT Airdrop for XVS Holders: Will This Be a Worthy One?

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Avatar for Kryptlook
Written by   121
2 months ago

Just to let everyone know, the snapshot to all supported wallets that have at least 0.01 XVS has already ended. Currently, the Venus Protocol team are preparing the airdrop distributions to all the wallets that support it or maybe already distributing the VRT tokens at the time you are reading this article.

The Venus protocol team have been preparing this event for some months now and usually, in my view, Binance will always be the last one to announce about their support for that kind of event.

The Snapshot of XVS Holders.

The snapshot took place on May 15, 2021 or at the BSC block at the height of 7,479,462. All wallets that have supported the airdrop that have at least 0.01 XVS in that wallet will be eligible to receive the airdrop with a ratio of 1 XVS:1000 VRT. So if you managed to have at least 0.01 XVS in your wallet like Trust Wallet, MXC or in Binance, you can have 10 VRT airdrop tokens after the distribution.

What is VRT Tokens?

Venus Reward Token is a mechanism created to become an additional mining distribution to suppliers and borrowers of Venus Protocol. The goal is to gradually lower XVS inflation rate and also include burning XVS throughout this process. Since XVS is the Governance token that controls the entire protocol, our goal is to make the total supply lower over time to make Governance more secure. In substitution to this, we realize that a lucrative APY yield created by the protocol is important. VRT will have a total supply of 30 billion and be distributed to users over the course of 4 years while we plan to have the XVS distribution double to around 8 years to compliment the reductions. All of this is subject to Governance changes and on-chain proposals.

Source: Article of Joselito Lizarondo in Medium

The Distribution of VRT Airdrop.

According to the article of Joselito in Medium, the distribution will start from May 17, 2021 and will finalize on May 24, 2021 - that means that in just a week, all valid holders will receive that airdrop that have at least 0.01 XVS in the wallet.

All XVS holders in a non-custodial wallets like Trust Wallet might receive it during the distribution time but with participants that holds XVS in a custodial exchange like Binance, it might take some time. It might be distributed within the given time or it might be extended for some days.

What Would Be The Initial Price of VRT Tokens?

Currently, VRT tokens still doesn't have any data shown in Coinmarketcap and no one really knows what will be its price if ever it gets listed or ready to be traded.

So with this, I'll have my own prediction.

The total supply of VRT tokens is 30,000,000,000. That's a lot! And with that amount of supply, at least $0.1 seems impossible to be an initial price.

However, since VRT tokens are to incentivize stakers, borrowers and suppliers Venus protocol, there's a high chance that it can reach to a cent overtime. Especially of there is an announcement of burning tokens.

And since Venus protocol marks a good work in the Binance Smart Chain ecosystem, and Binance CEO Changpeng Zhao commends the work of Joselito, there's a high chance that VRT tokens will also be listed in the Binance Exchange.

In my opinion, it's price, if it gets listed on Binance, can be seen around $0.1 to $0.2 as the time goes by.

How Much XVS I Bought and Is It Worth It?

All in all, I have bought a total of 11.5 XVS with my investment of around $1,300. So when distribution happens, I can have 11,500 VRT tokens.

Is it worth the risk? Currently, no. Since I bought some XVS in the top and some at around $90, it made me put at a huge loss. So currently, I am holding my 5 XVS in my Binance account and staked my 6.5 XVS in Harvest Finance.

But I have a strong faith that it will recover because right now, the market is experiencing a correction.

Final Say.

As we know, trading is a very risky play. And participating in this kind of airdrop is not an exception.

So whenever you wanted to participate in this, make sure you are strong enough to handle your emotions when everything doesn't go the way you expected it to be.

Always manage your risk.

Image Source.

END.

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Comments

Grabe dami.. Sana malaki value ng vrt

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2 months ago

Dzaaa pabulong san ka nagpapart time hahahahahahahah sana all nlng ko dring dapita.

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2 months ago

Hahaha wa gani trabaho, tambay ra 😂

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2 months ago

Waa mag tambay nlng pd diay ko hahahaha laban lng jd ta sa market rn n pula paz rose hhaha

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2 months ago

Gani, sakit sa boot oy haha

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2 months ago

As in. Sakit jd ako gani na ginagmay lng mga $10-$20 n lost nq since nag bear sakit gni kaau... Unsa nlng m g ahak

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2 months ago

Grabe dami mo pera hahaha laki ng xvs mo ah

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2 months ago

All in, bahala na dis 😂

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2 months ago

Iba ng mayaman, naols $1300 😂. Sakin 0.42 XVS lang, walang kwarta ee haha. Pero sana naman masali ako dun, sa trust naman ako nag buy ee. Sana sana, kahit anong price pa yan basta melon goods na haha. Pero sana katulad din ni FORTH yan, may the FORTH be with you sh!t 😭😭

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2 months ago

Nag all in kasi ako, not recommended 😂 Sana nga kahit 2$ lang Isa e hahaha

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2 months ago

Sana nga all may pang all in talaga aguyy. Goos Luck nalang at sana ngay mag kahit $5 manlang sana 😂

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2 months ago

Ez milyones pagkaganon hahaj

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2 months ago

Naysuuuu sana haha

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2 months ago