What is VIP token?
VIP Service token is the utility token for the VIP Service project, a community support and VIP voting whitelist for the hive blockchain
What does VIP do?
VIP Service boosts content creators by giving VIP token holders up to one daily upvote on their posts. VIP Service also has a free curation trail which you can follow on Hive.vote to earn passive income by piggybacking our community - click curation trail and search for "vipservice" to follow
How does VIP work exactly?
Buy and hold at least 100 VIP tokens for a VIP Pass which will whitelist your account. When posting new content you will automatically get a daily upvote from the @vipservice account
Where do post rewards and curation rewards go?
All rewards go directly back into the @vipservice account Hive Power to continuously compound and grow the value backing the VIP tokens
Can you sell back VIP tokens?
Yes of course you can always sell back your VIP tokens at any time, but the hive-engine liquidity will vary depending on the market conditions so contact @hotsauceislethal for buybacks. Selling back your VIP tokens will remove you from the whitelist and revoke your VIP Pass
Where does the Hive from token sales go?
100% of funds from tokens sales, minus 0.25% platform withdrawal fee, go into the Hive Power for the @vipservice support account
What is the price or value of VIP token?
VIP token is a fully backed token meaning it always has a guaranteed value in Hive Power, held by @vipservice, representing each VIP token circulating. The starting price of VIP was 1.0 Hive (SWAP.HIVE) and it will be sold in incremental stages leading up to a final price of 2.0 Hive or until all 100,000 VIP have been distributed
Where can people trade VIP?
VIP Tokens available here on Hive-engine
What is the vote value of VIP Service?
See the account stats and vote value here on Hivetasks.com
Do you need to stake VIP?
Nope, VIP token does not have staking enabled. Simply buy and hold it in your Hive-engine wallet
Who created VIP?
The project was created by @hotsauceislethal
Is VIP Token a security token?
No, VIP Token is not a security according to current Unites States regulations. Token holders are required to create digital content and post it to the blockchain under their personal accounts in order to gain any sort of value from the VIP token utility and the @vipservice account. Simply buying and holding the VIP Token does not guarantee or promise any sort of profit or returns to the holder. The VIP token may decrease or increase in value over time to mirror on-chain inflation to account Hive Power plus accumulated curation rewards, or to incentivize early participation by limiting token sales to stages
Why can't I buy less than 1 VIP Token?
VIP Tokens are not divisible because they have a decimal precision of zero. This is because they are not for speculation or for currency purposes, they are purely a utility token for the VIP Service project whitelist
When did VIP Service come out?
Originally created in 2019 as a VIP tier curation service for @canna-curate and @canna-collective. The actual VIP Token was created in 2020 following the STEEM/HIVE fork.
Why was VIP Service created?
As part of a community-wide support effort we needed to create a content creator solution. Many people who join the blockchain quickly leave because they feel the rewards simply aren't worth their time, or they can't find the right resources. VIP Service and the VIP Lounge Discord channel were created to help smooth the process of onboarding and retaining Hive users by building value in different ways
What kind of content does VIP Service curate?
VIP Service does not discriminate when it comes to content creation, however there is a strict set of rules in regards to plagiarism and spam. If your posts are deemed to be spamming or copying/plagiarizing in any fashion then VIP Service reserves the right to revoke your VIP Pass
What are the technical specifications (tokenomics) of VIP?
VIP Token has a total maximum supply of 100,000 tokens which only trade on Hive-engine.com for SWAP.HIVE tokens. No tokens were pre-sold, it cannot be staked, mined or minted. The total supply is held by @vipservice and sold in stages as needed to supply the project with Hive Power. All tokens circulating will always be redeemable for at least 1 Hive Power at all times. It has a block speed and transfer time of 3 seconds with no transaction fees. You can also send or receive VIP tokens on Discord using Banjo bot without any fees or using Hive Keychain mobile wallet or browser extension
Does VIP Service do anything else?
Yes, VIP Service invests into various crypto ecosystems such as Splinterlands by providing liquidity, also supporting Binance Smart Chain projects like IceBreak-R and NFTs such as Hive Punks and our sister project WePix. Recently VIP Service launched the Punkmaster Token (PUNKZ)
Join the VIP Lounge Discord Server!
In my server I do #airdrops, #giveaways plus there is tons of invaluable information to be learned. Want to learn more but just don't know where to start? Come ask questions and join a group of experienced traders and crypto experts :)
This post is brought to you by IceBreak-R - Break The Ice On DeFi and join the BSC community!
