Tokenomics

VITC was minted with a max supply of 1 billion tokens; no more than this amount will ever exist. Having a pre-minted supply, in practice, means a lower carbon footprint compared to coins that require “mining”.

A large portion of VITC’s total supply is currently under the control of the Vitamin Coin team. These tokens are slated to be placed into a VITE smart contract soon. The earliest this is possible is in Q4 of 2021, after an upcoming hard fork in the VITE network. This fork is required to enable the deployment of the large locking contract, which is not deployable on the present VITE Mainnet. The Vitamin Coin team values transparency, and invites its holders and investors to regularly monitor the distribution of VITC on the publicly visible blockchain.

The Vitamin Coin team’s goal is to distribute 80% of the total supply over the course of the next five years. The distribution max currently stands at 25% each for the first and second years, and 10% each in the third to fifth years. Any undistributed tokens at the end of a year will be relocked and added to distribution in year 6, and so on. This schedule is designed to maintain flexibility and a steady pace of token distribution. Of course, changes will be made after due notice is given on all of our outreach platforms.

Some funds (totalling 20%) are reserved for the VITC treasury. Treasury funds will be used for the development of the VITC project and community, such as listing costs, liquidity, and payment of non-team member contributors.