Who issued the ViciCoin (VCNT) currency?

VICI Foundation, a Cayman Islands-based non-profit, created ViciCoin (VCNT), a utility token used within the Vicinity platform for financial interactions and business operations.

Jan 07, 2025 at 03:53 pm

Key Points:

• ViciCoin (VCNT) is a virtual currency issued by VICI Foundation.
• VCNT is a utility token that provides access to the Vicinity platform and its services.
• VICI Foundation aims to facilitate direct financial interactions and streamline business operations.
• VCNT is available for purchase on various cryptocurrency exchanges.
• The total supply of VCNT is limited to 20 billion tokens.

Who Issued the ViciCoin (VCNT) Currency?

ViciCoin (VCNT) is a digital currency issued by VICI Foundation, a non-profit organization registered in the Cayman Islands. VICI Foundation was established with the mission to advance financial inclusion and empower businesses through blockchain technology.

Purpose and Functionality of VCNT

VCNT serves as a utility token within the Vicinity ecosystem, a comprehensive platform that encompasses a global financial system, a social network, and a marketplace. VCNT grants users access to the following services:

• Financial Transactions: VCNT allows for seamless cross-border transactions with low fees and fast settlement times.
• Social Networking: VCNT enables users to connect with businesses and individuals, share information, and build relationships.
• Marketplace: VCNT can be used to purchase goods and services from vendors within the Vicinity marketplace.
• Platform Governance: VCNT holders can participate in governance decisions regarding the Vicinity platform by voting on proposals.

Acquisition of VCNT

VCNT is available for purchase on several renowned cryptocurrency exchanges, including:

• Binance
• KuCoin
• Gate.io
• Huobi Global
• Bittrex

To acquire VCNT, users need to create an account on one of these exchanges and follow the listed procedures to buy VCNT using fiat currencies or other cryptocurrencies.

Tokenomics of VCNT

VCNT has a limited total supply of 20 billion tokens, ensuring its scarcity and potential value. The distribution of VCNT is as follows:

• 50%: Available for purchase by the public through token sales.
• 30%: Reserved for the VICI Foundation for ecosystem development and research.
• 10%: Distributed to the founding team and early contributors.
• 10%: Allocated for strategic partnerships and incentives.

Benefits of Using VCNT

Utilizing VCNT within the Vicinity ecosystem offers several advantages:

• Reduced Transaction Costs: VCNT transactions incur significantly lower fees compared to traditional banking methods.
• Cross-Border Efficiency: VCNT facilitates swift and cost-effective transfer of funds across borders, eliminating the complexities associated with cross-currency conversions.
• Secure Transactions: VCNT transactions are secured by blockchain technology, providing immutability, transparency, and protection against fraud.
• Enhanced Privacy: VCNT transactions are pseudonymous, preserving user privacy while maintaining transparency on the blockchain.

FAQs:

Q: What is the purpose of ViciCoin (VCNT)?

A: VCNT is a utility token that empowers users to access the diverse services offered by the Vicinity platform, including financial transactions, social networking, marketplace purchases, and platform governance.

Q: Who created VICI Foundation?

A: The identity of VICI Foundation's founders has not been publicly disclosed.

Q: How can I buy VCNT?

A: VCNT is available for purchase on reputable cryptocurrency exchanges such as Binance, KuCoin, Gate.io, Huobi Global, and Bittrex.

Q: What is the total supply of VCNT?

A: The total supply of VCNT is capped at 20 billion tokens.

Q: What is the price of VCNT?

A: The price of VCNT fluctuates based on market conditions and supply and demand dynamics. Refer to cryptocurrency exchanges for real-time price information.