A Landmark Decision For Verasity’s $VRA
Verasity, represented by the ticker symbol $VRA, made headlines by burning 50% of its maximum supply. This decision came after one of the most significant community consultations in the realm of cryptocurrency. The consultation involved over half a million community members and token holders. The outcome? A strategic move that not only strengthens Verasity’s position in the market but also emphasizes its commitment to commercial adoption and transparent communication. Read more
The Impetus Behind the Burn
The decision to burn 10 billion $VRA tokens, which were originally part of a strategic reserve wallet for future business endeavors, was a significant one. The reason? Verasity’s commercial success with its innovative anti-bot advertising technology. This technology, powered by the patented ‘Proof of View’ blockchain system, has already garnered attention and adoption. With its increasing commercial success, Verasity found no need for the 10 billion strategic reserve tokens, opting instead to fund its expansion through the revenue generated by its technology.
The Role of $VRA in the Ecosystem
The circulating $VRA, now standing at approximately 10 billion, continues to play a pivotal role in the VeraViews advertising ecosystem. It serves as a payment option for clients, a staking option within the VeraWallet ecosystem, and a deflationary token subject to periodic burns. In the first half of 2023 alone, over 155 million VRA was burned.
A Glimpse into the Future
Verasity’s recent burn is a testament to its community-centric approach, aiming to deliver value to its token holders while also preparing for commercial expansion. The team at Verasity has also hinted at exploring alternative blockchains for the transfer of 90 billion ‘Proof of View’ marker tokens, essential for its advertising stack.
RJ Mark, the CEO and Founder of Verasity, shared his insights on the matter:
“Our commercial rollout is bringing greater utility to $VRA through its primary use as a payments option for VeraViews campaigns. Now, our community consultation and subsequent burn of our strategic reserve tokens, some 50% of our maximum supply, proves that we’re also listening to our community and improving our crypto ecosystem. This is part of our growth strategy for 2024, where we expect huge demand for our advertising solutions, and we’re now laying the foundation for that growth.”
About Verasity
Verasity stands out as an open-ledger ecosystem designed to combat advertising fraud, offer open access to infrastructure for publishers and advertisers, and reward users for viewing video content. With its patented ‘Proof of View’ blockchain technology, Verasity has carved a niche for itself in the advertising and video player industries. The $VRA token, central to the Verasity ecosystem, finds its use in funding advertising campaigns, staking through VeraWallet, and distributing Watch & Earn rewards. Learn more about Verasity
A Recap On Verasity
In Conclusion
Verasity’s decision to burn 50% of its maximum supply is not just a bold move in the crypto landscape, but a testament to its commitment to its community and vision for the future. By aligning its strategies with commercial success and community feedback, Verasity has showcased adaptability and foresight in an ever-evolving market. As the crypto world watches, Verasity’s actions serve as a reminder of the power of community consultation, transparent communication, and strategic innovation.
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