VIRTUSE is releasing VIRTU mining & Dividend plan as of 15th June 2019
What is VIRTU
VIRTU is an exchange token that can be used on the Virtuse Exchange. VIRTU can be either purchased or is rewarded for any user that trades the exchange.
Possession of VIRTU entitles holders to receive a dividend, calculated as the total of 70% of the exchange’s revenue. Users holding large amounts of VIRTU will also receive Superholder dividends on top of the standard one.
400 millions of VIRTUs are to be distributed within 3 years, that means 365 297 daily.
VIRTU Allocation / Mining Rule
We will distribute 400 millions of VIRTU within the next 3 years. That is 365 297 daily. It will be distributed to people according to their trading volume (buy-side only). Whoever trades the most, will get the highest amount. The distribution will occur daily (based end of day amounts) after all trades are settled.
For example, total daily traded amount of all cryptocurrencies equals 10,000 ETH (BTC, ETH, and others). A trader buys amount equalling 1,000 ETH, the trader will receive 36 529,7 VIRTU.
VIRTU Airdrop Rule (Dividend plan)
VIRTU are highly valuable mainly because their holders will receive a monthly dividend. The total dividend will equal 70% of the platform`s revenues (mainly from trading fees).
On top of that, 10% of revenues will be distributed as a dividend to the superholders (i.e. users holding more than 200,000 VIRTU).
Dividends will be paid in ETH.
Non-minable tokens (Pre-mining, Operation, and Team tokens) are initially locked, meaning they cannot receive airdrops. Each will be unlocked as below:
- Team tokens will be unlocked 50% after 1 year since opening day, another 30% after 2 years, and the final 20% after 3 years.
- Partner incentives will be unlocked 50% after 1 year since opening day, another 30% after 2 years, and the final 20% after 3 years.
- Institutional investors tokens will be unlocked from day one.
- Liquidity reserve tokens will be unlocked for 3 years
Superholders are users possessing more than 200,000 VIRTU. On top of the standard dividend, they are entitled to receive a superholder dividend. Total superholder dividend equals 10% of total revenues and is distributed to the superholders depending on their ….average daily balance.
Virtuse is incentivizing traders to trade on the exchange and motivates them by giving them VIRTU in return for the fees and by paying dividends to the VIRTU holders.
- Every trader pays a Trading fee (0.15%) in the form of BTC, ETH or USDT. Total of 400 million VIRTU are allocated throughout 3 years (i.e. 365,297 daily)
- Every trader becomes a VIRTU holder; large traders become Superholders
- Revenues are used as follows:
- 10% is paid out as a dividend to the Super holders (in the form of BTC, ETH, USD)
- 63% is paid as a dividend to all holders (super holders and standard holders) ; (in the form of BTC, ETH, USD)
- 27% is used to cover the costs and make a profit to the exchange