Q4-2023


Tokenomics


What is the current circulating, total, and maximum supply of VRA?


To find the current circulating, total, and maximum supply of VRA - https://coinmarketcap.com/currencies/verasity/


Why does the total supply sometimes exceed the stated amount, could this be the minting and burning?

Yes, that is correct. As PoV Marker tokens circulate, minting and burning happens at Oracle nodes as they travel from the ETH chain to VeraChain and back. This results in small variations in the total supply of VRA tokens, as PoV Marker tokens are always in transit. 


Is there a burn model implemented by Verasity?

Yes, Verasity has a  burn model in place. A portion of the profits generated from the Verasity ecosystem is allocated for the periodic burn of VRA tokens from the circulating supply, executed at the discretion of Verasity and subsequent to covering operating expenses. We do not disclose specific amounts or schedules for token burns ahead of time.


Updates regarding token burns will be communicated on a quarterly basis.


How many tokens has Verasity removed from supply through burning to date?

At the time of writing, Verasity has burnt a total of 512,196,553 VRA tokens.


What is the Warchest and why were these tokens burned?

The Warchest tokens, totaling 10 billion VRA, were burned. The Warchest was initially minted for potential acquisitions and strategic growth, but with VeraViews reaching a commercial stage the Warchest was deemed no longer necessary.


What is the significance of the Warchest burn for VRA token holders?

The burning of the Warchest, which consisted of 10 billion VRA tokens, is significant because it directly addresses the concerns raised during the community consultation about these tokens potentially entering circulation.


What are Proof of View (PoV)  tokens and why will they be moved to a different blockchain?

PoV tokens are issued on the same contract as VRA and are largely used for data transfer purposes to power the VeraViews ad stack. They have been identified as exerting pressure on Verasity's supply, affecting new investor confidence and causing confusion around the mint and burn functionality. Moving them to a separate chain would alleviate these issues and Verasity is actively exploring this implementation.


What criteria is Verasity considering for the blockchain home of the PoV tokens?

Verasity has outlined several criteria for a new blockchain for PoV tokens, including metadata functionality, transaction speed, scalability and interoperability, and open-source code. Additional considerations include a full node client software availability, a convenient blockchain explorer solution, and low overheads. The new blockchain should support high transaction throughput, efficient storage of metadata, and provide capacity for further scaling.


How will the changes to VRA’s tokenomics impact its future?

The changes, including the burning of the Warchest and the moving of PoV  tokens to a new chain are aimed at solving and simplifying the current tokenomics issues. To be compliant with exchanges and regulators, VRA must retain its utility. Since tokens largely act as data transfer mechanisms and  as the primary payment option for funding advertising campaigns within the VeraViews ad stack, Verasity believes it is one of the few utility tokens in the industry.


Why not distinguish between max and total supply? Instead, you added all your tokens: PoV  and tradeable tokens all in one pool.

All tokens are minted under the same contract address and are therefore essentially the same. 


Is VRA used to fund ad campaign escrow pools?

Yes, VRA from the circulating supply is utilized to fund escrow pools for ad campaigns. Advertisers have the option to fund these escrow pools either with fiat currencies or with VRA purchased from the market, depending on their preference. If advertisers choose to use fiat currencies, Verasity will use those funds to purchase VRA on their behalf to finance these ad campaigns. As a result, tradeable VRA is used to fund ad campaigns launched through VeraViews.


Why isn't the migration of PoV Marker tokens to a new blockchain taking place immediately?

We are actively exploring this implementation, although the technical effort required to do this is significantly larger than the burning of the Warchest, which we have already acted on. This is because, unlike the Warchest which was not utilized at any time, PoV Tokens are currently in active use and move data to the VeraChain — as can be seen by exploring our on-chain data. 


We are endeavoring to utilize a different chain to separate PoV tokens from VRA tokens and will have an announcement in the near future.


Why are PoV Marker tokens included in the total supply?

PoV Marker Tokens are included in the total supply figures because they are minted under the same contract as VRA and are essentially the same. Consequently, data aggregation platforms like CoinMarketCap and CoinGecko, adhering to their methodology, count them as part of the total supply. Once the PoV tokens are migrated to a new chain, they can be counted separately.


What is the utility of VRA?

The VRA token serves a multi-faceted role within the Verasity ecosystem, acting as a utility token with a wide array of applications. Tokens largely act as data transfer mechanisms and  as the primary payment option for funding advertising campaigns within the VeraViews ad stack, Verasity believes it is one of the few utility tokens in the industry. Further, it is utilized to fund advertising campaigns within VeraViews and staking through VeraWallet.


What is the source of VeraWallet staking rewards?

VeraWallet staking rewards originate from a reward pool.


What's the VRA smart contract address?

Verasity, VRA smart contract address: 0xf411903cbc70a74d22900a5de66a2dda66507255 Decimals: 18 

Token Ticker: VRA 


Caution! Any tokens sent to the contract address are irrecoverable.


Are there upcoming team token unlocks scheduled?

Presently, Verasity holds approximately 2.16 billion VRA, designated as team tokens. These tokens are subject to a vesting schedule, with 25% becoming available annually, contingent upon meeting an undisclosed strike/exercise price each year. The earliest potential unlock date is February 2024, provided that the aforementioned conditions are met.


Is it possible to send VRA to any private wallet?

VRA, being an ERC-777 token, is compatible with any ERC-20 private wallet due to its backward compatibility with the ERC-20 standard. Wallets such as MetaMask, MyEtherWallet (MEW), and even Ledger and Trezor are suitable options for storing your VRA tokens.


VeraWallet


What is VeraWallet?

VeraWallet is a proprietary staking economy and a simple-to-use custodial wallet for managing VRA. Over 300,000 users trust VeraWallet and use it for staking, with a 15% yield until April 2025.


Where can I stake my VRA?

If you have a VeraWallet account, you can create a stake from the ‘Wallet’ or ‘Staking’ tabs by clicking on the ‘Staking’ button.


What's the APY provided by VeraWallet?

Investors can enjoy 15% staking rewards (or about 0.0411% daily) with VeraWallet until March 31, 2025.


Can US residents stake VRA?

No. US residents cannot create a VeraWallet account, nor any other service provided by Verasity or VeraWallet.


How much time does a withdrawal take?

  • Manual Withdrawals: Approximately 24 hours, as it includes an added security layer. You can also cancel the withdrawal while it is on review and is not processed yet.
  • Automated Withdrawals: Typically within minutes, but occasionally up to 12 hours due to our security protocols.

Both methods have a fee of 2700 VRA.


Will the withdrawal fees decrease in the future?

As the value of VRA changes, we will periodically adjust the withdrawal fees.


Is there a VeraWallet mobile app?

We've chosen to offer VeraWallet as a web-based solution mainly for security reasons. Nevertheless, it's optimized for both mobile and desktop browser versions.


How do I reset my 2FA if I lose access?

Log into your VeraWallet, click "Lost authenticator" on the 2FA page, and follow the prompts.


Is there a lock-out period for un-staking?

Yes, un-staking involves a 72-hour lock-out during which your VRA is held and no staking rewards accrue. After this, your VRA moves from the Staking balance to your Available balance. Stake removes to a ‘History’ tab so that you can review a history of your previous staking when needed.


Are there any staking/unstaking fees?

No, we don't charge fees for staking or un-staking.


What if the staking program is full?

As users frequently join or exit the staking program, spots become available


I see an error stating "too many login attempts". Why?

This is a security feature. If you've had several unsuccessful login attempts, this message will show. Access is restored after a certain period, ranging from a few minutes to 24 hours, depending on the number of failed tries.


How secure is VeraWallet?

VeraWallet implements security measures and safeguards user holdings through cold storage and Verasity guarantees against breaches that are not user initiated. Our token-guarantee policy adds an extra layer of protection by ensuring that tokens will be replaced if a hack occurs on the VeraWallet side.


Is KYC required?

Yes, we require basic KYC details during registration. However, in situations like account recovery, further KYC may be necessary for verification using the details you provided at sign-up.


When will my VRA arrive after a bank transfer purchase?

We use Transak for card services. Some transactions can take hours. If there's a prolonged delay, contact support@transak.com.


Issues with receiving verification code or email confirmation?

First, check your spam/junk. If not found, click "resend code". If the issue persists, reach out to support@verasity.io.


How can I reset my VeraWallet password?

Go to the “Sign in” page on VeraWallet, click “Forgot password?”, provide your email, and proceed with "Change password".


What deposit methods are available for VRA in VeraWallet?

  • Deposit from any third-party exchange or wallet.
  • VRA purchase using BTC, USDT, and ETH. 
  • Purchase VRA via bank transfer using the services of our partner Transak. 

All deposit and purchase methods are available on the main screen of your VeraWallet account.


What are the staking limits?

The minimum staking amount is 10,000 VRA, and the maximum is 200,000,000 VRA.


Verasity


What is Verasity?

Verasity is an open-ledger ecosystem designed to fight advertising fraud, provide open access to infrastructure for publishers and advertisers, and reward users for watching video content. Verasity also provides payment solutions and a rewarding staking ecosystem with 15% yields through to April 2025.


Powered by a mix of artificial intelligence (AI), machine learning (ML), and blockchain technologies, Verasity is building the most powerful advertising ecosystem in the world through VeraViews; developing an open-access payments platform through VeraWallet and enhancing the attention economy through its patented Rewarded Video module.


Is Verasity equipped to withstand a bear market?

Verasity has a six-year operational expense runway and isn't solely reliant on the crypto market. Our product verticals are mainly aimed at the rapidly expanding digital advertising ecosystem.


What are Verasity’s main business objectives?

Verasity, through VeraViews, is committed to addressing the rising issue of advertising fraud, projected to hit $100 billion by 2025.


Where can I see Verasity's roadmap?

Verasity’s roadmap can be viewed here: https://verasity.io/roadmap.


Are there any new exchange listings on the horizon?

Our team is always actively working on securing more exchange listings. However, due to non-disclosure agreements and the terms of our listing agreements, we cannot provide specific details or timelines until official announcements from the exchanges are made.


What is the reason for the lack of updates on GitHub?

Most of our tech is proprietary; as such, we refrain from updating on GitHub to safeguard our codebase and uphold its commercial value.


What is the location of the Verasity headquarters?

As a global and remote business our place of incorporation is San José, Costa Rica; previously having moved from the British Virgin Islands.


What is the reason for Verasity's registration in an offshore jurisdiction?

Offshore jurisdictions are more favorable for crypto projects.


Who are the members of Verasity's team?

Verasity has nearly 50 members, from developers to executives. Meet the leadership here: https://verasity.io/team.


What is Proof of View (PoV)?

Proof of View, or 'PoV', is a patented technology that detects and prevents fraudulent views during ad campaigns, ensuring that ads are shown to real viewers. It utilizes a blend of blockchain, AI, and ML technologies to verify real ad views and stores this data on our sidechain, VeraChain.


What patents does Verasity hold?

Verasity currently holds multiple patents worldwide for two core pieces of technology: Proof Of View (PoV) and Rewarded Video.


In which countries or regions does Verasity have these patents?

For the Proof Of View (PoV) patent, Verasity has secured rights in:

  • USA
  • China
  • Europe
  • South Korea
  • Hong Kong
  • Eurasia

For the Rewarded Video patent, Verasity has rights in: 

  • USA

What is the significance of the Rewarded Video patent?

Verasity's Rewarded Video patent encompasses videos offering users rewards, like in-game currency, for viewing, including ad-containing videos. U.S. spending on such videos is expected to reach $4.2B by 2024, mainly for in-game currencies. This patent lets Verasity sell or license its solution, creating a new stream of revenue.


Is Verasity currently conducting any airdrops?

There are no current airdrops by Verasity. Beware of scams suggesting otherwise.


How do I contact Verasity support?

For questions or support, email support@verasity.io.


VeraViews


What is VeraViews? 

VeraViews is an open ledger video advertising ecosystem built around Verasity's patented 'Proof of View' (PoV) technology, aiming to prevent ad fraud and ensure ads are viewed by real individuals.


Will Verasity provide publisher data from VeraViews?

We will share this with our community in an abridged format, provided our partners (i.e. PoV/VeraViews customers) agree to share data from their ad campaign. To protect our partners’ privacy and business interests, we cannot share any information without their express written permission. 


What happens if a business does not use all allocated PoV tokens for a campaign?

They would be recycled into the PoV Marker token pool to be used in other ad campaigns.


Where can I find the wallets designated for VeraViews?

Many of the addresses that we will generate for PoV implementation will belong to our ad stack customers and therefore may contain information that is sensitive to their business interests. We will not be sharing these addresses in a public capacity to protect our partners. Simply put it would make VeraViews an unattractive platform if company ‘A’ could see exactly what company ‘B’ spent on advertising last quarter, for example.


Do PoV tokens fund ad campaigns?

For the purpose of running advertising activity, they are then ascribed arbitrary utility value within the VeraViews ad tech stack. Ad campaigns still have to be funded separately through escrow pools. Advertisers have the option to fund these pools using fiat or VRA bought from the open market. In case they choose the former, we will exchange their fiat for VRA on exchanges and transfer it to their pool on their behalf.


How will the profits Verasity will generate from VeraViews impact VRA?

A portion of the profits generated from the VeraViews ad stack will be used to burn VRA tokens from our circulating supply at Verasity's discretion after operating expenses. Quarterly burn updates will be given.


What does it mean to be an Amazon Ads Partner?

In October 2022, VeraViews achieved the esteemed status of joining the Amazon Ads Partner Program, which has enabled us to leverage an exclusive suite of partner-specific resources, including access to the Amazon Ads API and a prominent listing in the partner directory. As a result, prospective clients can now easily discover our innovative solution, which was previously unknown to them.


What makes VeraViews different from other IVT solutions?

VeraViews leverages Verasity's proprietary Proof of View (PoV) technology, securely recording advertising data on the blockchain. This provides transparency, verifiability, and immutable metrics like the campaign IVT rate. As a result, publishers in some cases may experience faster payment settlements compared to traditional months-long waits. This blockchain approach ensures greater integrity and accountability in advertising metrics, giving VeraViews an edge over traditional solutions.


How many modules make up the VeraViews ad stack?

VeraViews has over 13 separate modules that make up its ad stack, powered by a mix of artificial intelligence (AI), machine learning (ML), and cutting-edge blockchain technologies.