$2.1M in Rewards: Voi Network’s Staking Program Debuts with $VOI Token Listing on MEXC
Lisbon, Portugal, September 26th, 2024, Chainwire
Voi Network, a highly performant L1 blockchain owned, run, and built by the community, is thrilled to announce the highly anticipated listing of its native token, $VOI, on the MEXC exchange. Trading is set to begin on September 27th at 4:00 AM UTC. Alongside the listing, Voi is launching a substantial staking program, offering 140 million $VOI tokens valued at $2.1 million based on the listing price.
Staking Program: $2.1M in Rewards Through Lockup
The Voi Staking Program is designed to incentivize early participation and long-term commitment. It presents two lucrative opportunities for participants to earn rewards:
- Lockup for Bonus Rewards: By locking up $VOI tokens in a smart contract, users can gain additional bonus rewards through an airdrop. The bonus is determined by the timing and duration of the lockup. Earlier participation and longer lockup periods yield higher rewards. Namely, by participating early, users can double their tokens through the bonus rewards system. The lockup options range from 1 to 18 months, with a maximum of 50 million $VOI tokens available for staking each week.
- Staking for Block Rewards: Users can stake their locked-up and bonus tokens to secure the network and earn block rewards. These rewards can be accessed freely without any vesting restrictions. When staking contracts are funded, users receive their full bonus for locked-up tokens upfront, allowing them to start earning block rewards immediately.
The vesting period for the bonus rewards begins after the lockup period ends, during which users can progressively access their locked tokens.
Addressing Fundamental Issues in the Blockchain Space
Voi Network’s approach to blockchain development is rooted in the belief that the true value of a blockchain lies in its ecosystem and the people using the product, rather than the underlying technology itself.
As Christopher Swenor, Co-Founder of Voi Network, explains, ““The main issue here is that when the ecosystem – essentially the value of the blockchain – doesn’t include the holders, it undermines the incentive model. If early stakeholders and investors stop contributing value, it turns the entire blockchain ecosystem into a mercenary one.”
By focusing on the community and ecosystem, Voi Network aims to address a core issue in the blockchain space: the misalignment of incentives between early stakeholders and the actual users who drive the network’s value.
Voi’s unique token distribution model, which allocates 75% of the total token supply to the community over a 20-year period, ensures genuine decentralization and aligns the interests of all participants, culminating a strong sense of ownership within the community.
Voi Network’s commitment to genuine decentralization and community ownership is exemplified by its innovative governance model, which ensures that the 75% token allocation reserved for the community is truly under the community’s control. Voi empowers its users to directly manage and distribute these tokens through a transparent and democratic process, which is modeled after the tripartite structure of the United States government, with separate judicial, legislative, and executive branches.
A Multichain Future and Rapid Ecosystem Adoption
As a highly performant L1 blockchain, Voi Network has plans to bring together multiple blockchain technologies under a single economic framework. This approach offers developers the flexibility to choose the technology stack that best suits their projects’ needs, enabling seamless interoperability and harnessing the strengths of various platforms.
Additionally, since its launch in June 2024, Voi has achieved significant growth across various metrics, including a tenfold increase in Twitter followers, Discord members, and Kibisis wallet installations. The Voi ecosystem has already witnessed the launch of more than 25 projects, showcasing its ability to drive innovation and collaboration.
Notably, during the testnet phase, 30 NFT projects were successfully completed, and there are 300 active participants in community committees, showcasing Voi’s ability to drive innovation and collaboration.
About Voi Network
The Voi Network is a L1 blockchain that prioritizes community ownership, interoperability, and long-term growth. By allocating 75% of its token supply to the community and embracing multiple blockchain technologies, Voi aims to build a decentralized and inclusive ecosystem built, run and owned by the users.
To learn more about the Voi Network and participate in the staking program, please visit:
Website – https://www.voi.network/
Discord – https://discord.gg/voi-network