Viction
  • Getting Started
  • General
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    • Network Information
      • Viction Mainnet
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    • Viction RPC API
  • Smart Contract Development
    • Solidity
      • A Simple Smart Contract
      • Solidity by Example
    • Standards & Specification
      • VRC25 Specification
      • VRC725 Specification
    • IDEs and Tools
      • Remix
      • Ethers.js
      • web3.js
      • thirdweb CLI
    • Deployment & Verification
      • Hardhat
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  • DApp Development
    • Integration
      • Exchange/Wallet integration
      • VRC25 Exchange/Wallet integration
      • Viction Staking Governance
      • VIC ZeroGas
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    • Data and analytics
    • Embedded Wallet (MPC)
    • Walkthrough: Build a Dapp on Viction
      • Setup Environment
      • Write the Smart Contract
      • Interacting with the Dapp in a browser
  • Masternode
    • Requirements
    • Run a Full Node
      • Binary
      • Create a Viction Masternode
      • Tmn
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  • Viction Wallet
    • User Guide
      • Authentication
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      • How to restore a wallet?
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    • Developer Guide
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  • Viction Bridge
    • Spacegate
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    • Hyperlane
  • Viction Data Availability
    • Viction DA RPC API
    • DA Integration Use cases
      • Simple Guide for Integrating OP Stack Rollup with Viction DA Layer
  • How to
    • How to Connect to Viction Blockchain
      • Coin98 Super Wallet
      • Metamask
      • Ledger
    • How to troubleshoot when the node is up but couldn't begin to sync block
    • How to Vote for Viction Saigon Network Upgrade Proposal
    • How to issue a token via VICIssuer
    • How to verify if a contract has been issued via VICIssuer
    • How to deploy the VRC725 contract
    • How to apply ZeroGas for VRC725 contract
    • How to Migrate Dapps from Ethereum
    • How to register Token or NFT logo on Vicscan
    • How to verify a contract on Vicscan
    • How to confirm a project on Vicscan
    • How to check if a token is gas sponsored on Viction
    • How to verify gas sponsored transactions
    • How to create Telegram Mini Apps
    • How to use VictionSafe (Multisig)
  • FAQ
    • APIs
    • General
      • Viction
      • Ecosystem
      • VIC - Economics
      • Contact & Support
    • Masternodes and Voting
      • Masternodes
      • Voter
    • Products
      • VicScan (Explorer)
      • VicMaster
      • VicStats
      • VicIssuer
        • How to Verify & Publish Contract Source Code on VicScan
      • Viction Wallet
      • Viction Data Availability Network
  • Legal
    • Terms of Use
    • Privacy Policy
  • Whitepaper and Research
  • Archive
    • TOMOE
    • How to Deploy a VRC25 Token on Viction
    • How to deploy an ICO smart contract on Viction
    • How to deploy an NFT token
    • An Example of Building a Dapp on Viction
    • Migrate Ethereum Dapp to Viction
    • TomoMasterDAO
      • Introduction
      • Governance model
        • On-Chain vs Off-Chain Voting
        • Board
        • Proposals
        • Voting and Outcome
      • Tokenomics
      • How to utilize and trade tDAO
      • Proposal guidelines for TomoMasterDAO
    • Old Viction Testnet
    • Deploy on Viction
      • CLI Commands
      • Viction Private Testnet Setup
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On this page
  • What is VIC? Can you describe the functions and purposes of VIC?
  • Can I mine VIC?
  • What is the VIC circulating supply and total supply?
  • How is VIC distributed?
  • How are block rewards distributed?
  • What was the price in presale and ICO?
  • Is VIC an ERC-20 token?
  • How do I connect Metamask with Viction mainnet?
  • Where can I buy VIC?
  1. FAQ
  2. General

VIC - Economics

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Last updated 10 months ago

What is VIC? Can you describe the functions and purposes of VIC?

VIC is the native cryptocurrency of Viction and will be the reserve cryptocurrency for all third-party apps running on Viction. Being the protocol token for the Viction infrastructure, VIC will be needed by all parties utilising Viction to build apps or issue and integrate cryptographic tokens into their apps.

The supply of VIC is fixed, long-term and non-inflationary.

In addition to the above, VIC is an integral part of the Viction network for a number of reasons.

  • VIC will be used to fund the development of Viction and its ecosystem (VicScan, VicMaster, Vic Wallet, etc.).

  • VIC will be used as a reward to incentivise the building of the Viction engine/ecosystem.

  • VIC will be used as a long-term, decentralized governance instrument of the Viction network.

You can check our for more details.

Can I mine VIC?

VIC is not mineable but mintable by Masternodes. Masternodes are responsible for creating, verifying and finalizing the blocks created within a period, called an epoch. Masternodes and Stakers will receive block rewards.

What is the VIC circulating supply and total supply?

The initial circulating supply at the genesis block was 55,000,000 but the current circulating supply is increasing every epoch.

After 8 years, VIC total supply is fixed at 100,000,000 VIC.

How is VIC distributed?

The token allocation is split as follows:

  • 55 millions VIC was already allocated after the token sale period;

  • 12 millions VIC are reserved for the team vested over 4 years;

  • 16 millions VIC are reserved for strategic partners and an ecosystem building fund;

  • 17 millions VIC are reserved as block rewards for 8 years

How are block rewards distributed?

17 millions VIC are reserved as block rewards with a halving schedule over 8 years.

  • 1st and 2nd year: 4 million VIC annually

  • 3rd, 4th and 5th year: 2 million VIC annually

  • 6th, 7th and 8th year: 1 million VIC annually

Will Viction have inflation?

The total supply is fixed at 100 million VIC in the first 8 years (non-inflationary). 17 million VIC which are reserved as block rewards will have been all distributed after 8 years. At that time, we are expecting that block rewards will come from the exchange fees. But the Masternode Council can decide to increase the total supply by 0.5-1 million VIC per year (which will be used as block rewards) (~small inflation, 0.5%-1% annually).

How often are block rewards paid out?

Block rewards will be awarded every epoch, which lasts for 900 blocks at roughly a two-second-block time rate (~30 minutes). Both Masternode operators and Stakers will be rewarded.

If Viction has near zero fees, how can Masternodes get rewards?

The block rewards will be emitted from a reserved fund of 17 million VIC for the first 8 years. The block rewards are as follows:

  • 1st and 2nd year: 4 million VIC annually

  • 3rd, 4th and 5th year: 2 million VIC annually

  • 6th, 7th and 8th year: 1 million VIC annually

We plan to have a built-in DEX, the revenues from the DEX will go to the Masternodes as well.

After 8 years, the block rewards will come from exchange fees. Also, the Masternode Council can decide to increase the total supply by 0.5-1 million VIC per year (which will be used as block rewards).

What was the price in presale and ICO?

Presale Price: $0.20

ICO Price: $0.25 (0.0003125 ETH)

Is VIC an ERC-20 token?

No. Since Mainnet, VIC has become the native coin of the Viction blockchain.

Where can I store VIC? How can I send VIC to my wallet?

You can store VIC in Viction Wallet, TrustWallet, MetaMask, MyEtherWallet, Ledger and Trezor and more wallets

We recommend to store VIC in Viction Wallet.

How do I connect Metamask with Viction mainnet?

The following is information used for configuring Metamask to connect to Viction Mainnet.

  • RPC endpoint: https://rpc.viction.xyz

  • Chain ID: 88

  • Symbol: VIC

  • Network Name: Viction Mainnet

Where can I buy VIC?

You can trade VIC on various exchanges. Please refer to the information below:

Exchanges
Trading Pair

Binance

Binance

HTX

Biconomy

MEXC

BingX

Bitget

BTSE

Bitmart

Bybit

StealthEX

Aliniex

Giottus

Lbank

SimpleSwap

Please, read more details

If you're unable to add the Viction Mainnet using the previous instructions, you can try an alternative method by connecting through .

You can find the info about our Mainnet or Testnet .

Also, you can find out more detailed information about how to use different wallet types to connect to Viction Mainnet on

technical whitepaper
here
https://chainlist.org/?search=viction
here
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