Let us stake with vidulum v-staking

Let us stake with vidulum v-staking

As you all may know by now Vidulum is a tipping app/wallet that let’s you tip on discord and even directly by sending the funds peer to peer, like any other wallet. The amazing thing about Vidulum is that in the future they will be adding more services, services like decentralized or self-custodian swaps, but one feature that is available right now is v-taking.

V-staking is a feature that let’s you stake your coins in this case BitcoinZ (btcz) for Vidulum (vdl) currency, this is great because there is no need to change our protocol which is proof of work, but we need to do is just ask Vidulum to add our project to their v-staking feature. At this moment I don’t know the cost of such services, but for my initial inquiries it seems admins at Vidulum are eager to help, once again I don’t know what the fee will be, or if our budget at VaultZ will be even enough to cover for the cost. At this moment I am just trying to see if the community is interested in such possibility.

The way v-staking will benefit BitcoinZ is very simple, those that are holding btcz at the moment are receiving nothing, but if this service is available those who are already holding may indeed remove coins from exchanges and move those coins into staking, which will release selling pressure, those that have no BitcoinZ may want to buy because now they can get some interest by just holding their position. And people who have coins at exchanges may be incentives to remove coins from exchanges so that exchanges don’t pocket the staking like some exchanges do.

Many people are interest into buying coins that stake because they see it as income, and in this world of DeFi, staking has become very popular.

This proposal is not gonna cost any amount because it is just a inquiry into the community to see if we as a whole are interested in staking with Vidulum.

You can vote yes or no.

If you vote yes and it is approve that will mean that either myselft or BitcoinZ representatives can start the process of requesting Vidulum to add us to v-staking. If this proposal passes than the next proposal will be to see if there are fees than to ask the community for funding. If the answer is no, no harm done and the staking possibility will has be ignore.


UPDATE.

I wrote to CoreyM about pricing with v-staking, and the price is really cheap.

HERE WE GO.

For $250 for the first year BitcoinZ can get into v-staking feature. This is official from the devil’s mouth.

So counting for transaction fees, taxes, price fluctuations, exchange fees, a funding of $250 to $300 will cover for the fees to add our selves.

This is the price for v-staking $300, and if you vote yes in this proposal it means that you also agree into also to contribute to collect this fee.

To me this is a deal, and I think the community should fully fund the $300 fee by tomorrow.

There you have it, that is the cost, I will ask for the details about how many coins you will have to park and how many vidulum you will get once the community fully agrees on collecting the fee for admission.

guadalupeleopard

Other
If there is anything else you’d like to share, please do so and post your comments to this proposal.


Should BitcoinZ be added to v-staking? And should Vaultz finance in full this feature?

You will be answer both questions at the same time, because both questions depends on each other as well, so both will have the same end result.

UPDATE 2.

I CLOSE THE POL.

A community member has made the pledge to pay the whole admission fee, and right now we are working into the details to make the transition.
As such you will have the option to participate into staking but since is not a protocol change you can always choice not to participate.
It has been fun posting this proposal.

I will update you all to when we can all start v-staking. Thank you.

UPDATE 3

The admission process has started and Vidulum is testing v-staking at this moment. Soon we will have even more news. I will let you all know the moment the news comes.

FINAL UPDATE.

YOU CAN START STAKING YOUR BITCOINZ WITH V-STAKING FROM NOW ON FIR A WHOLE YEAR.

After 12 months contract must be renewed. Untill that time stake baby stake.

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I’m using staking, I’ve invested in a coin and put in staking. I find it a great way to decrease the pressure of sales.

Agreed! The only other coin I currently hold, is a staking coin. I have earned almost as much money staking, as I have mining BtcZ. As long as there is no potential negative impact to our coin value, or overall network hash rate (if that’s what it is called), I think it is a good idea. However, I n the end, cost will be a huge determining factor. :heart:

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Many thanks Guadelupeleopard for contributing to BtcZ forum and coming up with a very interesting idea.

Two questions from my part (for now):

  1. One will keep BtcZ in Vidulum wallet and obtain VDL in return? According to which formula? In other words how many BtcZ will yield how many VDL in a given time unit?
  2. What is the cost of enabling this function?

I already have the cost for this IT IS REALLY CHEAP, you will park your btcz and you will receive vdl.

So BitcoinZ protocol won’t change.

I have been busy

I still don’t know about how many BitcoinZ you will need to park and how much vdl you will get.

I will update this post for the cost of the v-staking

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V-staking is already working, you can stake your btcz from now on for a whole year.

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By just holding btcz on a regular wallet you get nothing in return, with vidulum you get a small reward, but 8f btcz goes up in price and vidulum as well, let’s say $1 each than you gain something that you didn’t expect and that otherwise you wouldn’t have gotten.

The reward you will receive will depend on how much coins you are staking and the number of people who are staking.

I would say this is perfect for those who like to receive free money, because people in the giveaway most often than not just collect their tips and go to exchanges, with v-staking maybe they get a little encouragement into holding up their coins.

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Quote from Corey (VDL):

How does it work?
When using your Vidulum App to manage your coins it allows Vidulum to verify that address actually holds those coins. We simply confirm this balance against a BitcoinZ full node using the power and security of your blockchain to confirm that really is your balance. We add the total BTCZ balances together and then use some simple math to figure out what % of that is yours. That is how we know what % of the 100 VDL daily payout you will earn :smiley:

Where does the VDL come from?
The Vidulum blockchain is setup to fund all Vidulum Rewards programs as part of the block reward. Instead of a founders fee the chain sets aside a Rewards Fund for feature like V-Staking.

TLDR: BTCZ holders on the Vidulum App who have at least 100 BTCZ will be part of the daily VDL rewards earned. 100% non-custodial just like our tip bot and any other service we provide

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