Vitruveo rolls out the World’s First Auto-rebasing Protocol
18 January 2024 / Tortola, British Virgin Islands: Vitruveo is not just another blockchain platform; it is a dedicated Blockchain for Creators, utilizing an EVM-based protocol as the bedrock for constructing a decentralized ecosystem. Focused on empowering creators in various domains, Vitruveo aims to unlock sustainable income for visual artists, musicians, gamers, filmmakers, and beyond, by fostering trust, leveraging technology, and building a vibrant community.
What sets Vitruveo apart is its groundbreaking rebasing mechanism. Unlike other protocols that implement rebasing through smart contracts, Vitruveo has integrated rebasing directly into its core protocol. This innovative approach prevents the risk of inflation, providing a sustainable model for long-term growth.
In simpler terms, Vitruveo’s rebasing can be likened to “compound interest.” However, to avoid the pitfalls of inflationary cryptocurrencies, Vitruveo has ingeniously tied rebases to epoch-based transaction volume.
The block time on Vitruveo is 5 seconds, with each epoch comprising 17,280 blocks, equivalent to 24 hours. The protocol sets a transaction goal for each epoch, and if achieved with a +/-25% variability, all $VTRU (the native coin) holders experience an automatic increase of 1.00087671.
To ensure sustained performance, Vitruveo incrementally increases the transaction goal by 500 every epoch. The rebasing mechanism continues until the circulating supply reaches 250 million $VTRU, providing users with a unique opportunity for “Early Adopter Rewards” – a form of passive income for $VTRU holders during the initial 5-7 years.
The auto-rebasing feature is seamlessly integrated into the protocol, offering a highly performant and user-friendly experience. Crypto Wallets such as MetaMask will reflect the increased balance in real-time during a rebase event.
$VTRU, the native cryptocurrency of the Vitruveo blockchain, plays a central role in the platform’s functionality. It is used to pay for every transaction, serving as gas with a nominal fee. Additionally, all sales transactions on Vitruveo are conducted using $VTRU, ensuring a streamlined process where artists are paid in $VTRU directly from the platform’s treasury.
Vitruveo’s unique utility-driven approach, coupled with the auto-rebasing protocol, positions it as a frontrunner in the DeFi space. As the first blockchain to implement such a revolutionary mechanism, Vitruveo is set to redefine the dynamics of decentralized finance and create a sustainable ecosystem for creators across various domains.
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About Vitruveo
Vitruveo is a vertically-integrated ecosystem for Creators, founded on the principles of trust, technology, and community. It employs an EVM-based protocol to establish a decentralized ecosystem. With blockchain technology at the foundation, Vitruveo offers dApps, learning materials, workshops, events, marketing help and more in its stack, giving it a unique competitive advantage when onboarding creators and professional art organizations to Web3. Vitruveo’s core protocol has rebasing built-in, making it the world’s first auto-rebasing protocol, ensuring long-term sustainability and passive income opportunities for creators and investors.
Media Contact:
Company Name: VTRU (BVI) PTE LTD
Email: info@vitruveo.xyz
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
