Vanity AMA Transcript

” First token ever released on any blockchain to provide Custom Wallet Addresses for Bitcoin, Ethereum, Binance Smart Chain, Litecoin and Dogecoin Chains as either collectibles and functional”

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with Vanity! Today we have @JVanity joining us to talk about their exciting new project. Great to have you here 🙂

Joseph ~ $VNY Dev / Founder

Hello everyone, and thanks for having me today here. It’s a pleasure to be the guest for this AMA. A huge thanks to the BSCNews community!

Stephanie (BSC.News)

Welcome! So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you beforehand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway, Sounds good with you?

Stephanie (BSC.News)

Great, so to kick things off…

1. Please introduce yourself and the team behind Vanity.

Joseph ~ $VNY Dev / Founder

Hi everyone and welcome. I’m Joseph, co-founder with my wife Lili of Vanity. I’m 23, from Italy, Tech and Crypto enthusiastic. Vanity is a project that was born in May 27th 2021, with the goal of implementing revolutionary technologies inside the crypto world. Based on BSC, Vanity is a BEP-20 token available for purchase on Pancakeswap.

The team is composed by 5 core team members and some team partners. Me and my wife Lili are the co-founders of the project, developing the products.

We have two Chief Operative Officers, CMOs, which are Sandro and Teetop, already doxed to our community, doing the work of the product advisors and networking.

Marius is our Chief Marketing Officer, CMO. The main head for marketing, taking his IRL work to market our products and ideas.

As partners, Vanity is partened with Solidity.Finance, to take care of the secure aspect of our products. Vanity is also listed on Safemoon Wallet, CoinMarketCap, CoinGecko, and has been featured on many Crypto journals such as BSCNews, CryptoDaily, CryptoNews, and more.

Stephanie (BSC.News)

Awesome! Thank you for that amazing introduction, sounds like you have an amazing team behind you with great partners

2. What is Vanity and what are you trying to accomplish with your project?

Joseph ~ $VNY Dev / Founder

Vanity is the first token ever released on any blockchain to provide custom wallet addresses as a service. A custom wallet address is a non-proxy address visible on chain explorers, with a custom prefix that can contain readable words. Different from domains addresses or proxy addresses, with Vanity you are able to import your private keys inside your wallet and use it wherever you want.

We use a technique called Split-Key to generate custom wallet addresses for our customers, meaning that the only key needed for us to work with is a public key, which is stored in our DataBase smart contract in the BSC ecosystem

Back in September 2021, Vanity has released its first VNY Shop, where our customers were able to purchase and generate custom wallet addresses, and on the 14th of February, we are launching our new shiny product, the Vanity Marketplace.

Stephanie (BSC.News)

That’s very impressive. Let’s unpack a bit as there was a lot I wanted to touch on. So fir st let’s talk about your token

3. What is $VNY? Can you tell us about tokenomics?

Joseph ~ $VNY Dev / Founder

Sure!

$VNY is the token that brings everything alive. Used to purchase the products on our platform, at the moment the only tokenomics tax applied to the token smart contract is a 5% fee, redistributed to the holders.

While the total supply being 10B tokens, only around 7.8B are circulating in the market.

Stephanie (BSC.News)

Okay neat! Thanks for the clarification

4. Is your token deflationary?

Joseph ~ $VNY Dev / Founder

The token was born as an hyper-deflationary token, utilising a classic burn function. With the soon release of the VNY Marketplace, the platform will bring a new Tokenomics with burn and constant buy pressures.

While not having burns from each transaction anymore, Vanity will encounter in even more token burns thanks to the VNY Marketplace.

But we’re going to talk in depth only once introduced the marketplace to the BSCNews Community!

Stephanie (BSC.News)

Awesome! So to touch more on the ecosystem using the $VNY token

5. Please tell us about $VNY marketplace. When do you expect it to open?

Joseph ~ $VNY Dev / Founder

The Vanity Marketplace is a one-stop platform to buy custom wallet addresses to use across different blockchains and for minting Vanity Addresses NFTs as collectibles.

A Vanity NFT is a Non-Fungible Token that has been coded to be the idea of your possible Custom Address. This means, you will be able to mint an NFT with the prefix you would like to have in case you decide to generate a wallet, and store it to earn rewards.

As stated before, the VNY Marketplace will be live on the 14th of February. Here, i would love to leave a teaser / premier of the VNY Marketplace for the BSCNews community

Stephanie (BSC.News)

Make sure to remember VNY Marketplace will be on live on the Feb 14th, Valentine’s day everyone! 😃

Joseph ~ $VNY Dev / Founder

The perfect Valentine’s Day gift ^^

Stephanie (BSC.News)

It’s an important concept for the users to understand.

6. What kind of unique functions or features does your platform offer?

Joseph ~ $VNY Dev / Founder

With the introduction of the VNY Marketplace, we took the chance to develop a new tokenomics that can be applied to the tokens itself. First of all, all transactions fees both for buy and sell has been set to 5%, as stated before

Which everything goes to reflection to the holders

Then, utilising a Hybrid payment method based on half VNY and half BNB, we applied this new tokenomics structure: all the VNY used to purchase a custom wallet address, either in the NFT version or generated address, will be instantly burned, reducing drastically the circulating supply. That is why, we said burns will still occur even without a native burning function active.

Less tokens are in circulation, the more each token is worth. Then the BNB are splitter in several parts to sustain the project, as also explained in this graph:

30% of BNB are used to Liquidity Providing, where 15% buybacks the Vanity Token, and uses the other 15% to deposit the pair in the LP VNY/BNB.

30% is going to buy $VNY and store them to distribute the Royalties from the Royalty Reward System to the NFT Holders.

20% is stored in BNB in the Hydra, the smart contract function of the Vanity BuyBack&Burn, to strike and maintain a sustainable price floor.

The last 20% is sent to the team controlled wallet as Project Revenue.

We’ve talked about the Royalty Rewards, but did not explain the System:

When someone mints an NFT, they are going to chose a prefix, which we call “Needle”. This will be both the Identifier for the Royalty Reward System and the prefix of the address that you could generate.

For example, let’s say you’ll mint an ABC NFT Address: once minted, you will get a rank based on your minting position of that prefix. In case you’re the first minter of the ABC Needle, you will have Rank 1.

Each time a user mints a ABC NFT, you will get a percentage of the buy in VNY, claimable on our marketplace. The higher your rank is, the more will be your rewards.

This not only generates a passive income just by minting and holding an NFT, but also a value to your Token, which you will be able to sell on Lootex, our technical partner.

Each minting of different Needles creates a new ranking chain, so in case there will be someone minting an ABCD NFT, and be the first one to do it, then it will be a new Rank 1 NFT.

From our marketplace, users will be able to check the Leaderboard, to decide if they want to mint a most or least minted NFT, the most profitable one, or start a new chain. The needles are case-sensitive, so uppercase ABC will be different from lowercase abc.

Stephanie (BSC.News)

Okay neat! Most importantly

7. How can users be assured the product generated on the $VNY shop is fully secure?

Joseph ~ $VNY Dev / Founder

Security is the main aspect for Vanity. From managing only public keys to be sure our investors are safe, all the smart contracts made from Vanity has been previously audited by our technical partner Solidity.Finance before the deploy on mainnet.

Having smart contracts managing Vanity Token, Binance Coin but most importantly our investors money, we made sure to have the right auditing company. All the smart contract have passed the security audit with no issues, making sure that we can safely having them on the blockchain storing funds.

While generating custom addresses for our customers, the project utilise the Split Key Generation, meaning that only and only the public key from the customer is exposed to the team and used to generate the new custom wallet address.

This means that the Vanity team will never ever have access to any wallet created. For in depth technical explanations, you can check our Whitepaper at

Stephanie (BSC.News)

Thanks for sharing the whitepaper!  Last but not least

8. Any exciting news you would like to announce here today?

Joseph ~ $VNY Dev / Founder

The Vanity Marketplace is just one of the many products we have in the list of our goals. Many other things have not yet been disclosed to avoid stealing ideas. We aim to bring revolutionary technologies inside the Blockchains

With that being said, VNetwork, which will be revealed after the release of the Vanity Marketplace, but only partially, is one of them

We’re very excited to have build such an amazing platform, with a never-seen product out there, ready to explode.

We really hope that Vanity will be able to reach the multitude and spread the word on our work!

Stephanie (BSC.News)

We will look forward to it!  Would you be able to provide us with social media links so that our community could follow?

Joseph ~ $VNY Dev / Founder

Sure thing!

Socials

Telegram:

Twitter:

Youtube:

Website:

Stephanie (BSC.News)

Awesome! If you haven’t already make sure to go and check out Vanity everyone! Super exciting project that you don’t want to miss out on 

Source : bsc.news