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Token Design

Everything you need to know about your $VERA token.

What's the utility of $VERA token?

$VERA is the original utility token for the Vera network and entered the market on September 23, 2021 as both an ERC-20 and BEP-20 token. Additional networks may be supported over time.

Staking $VERA will be required to participate in the Vera DAO which governs the treasury, Lending Pool (of cryptos from liquidity suppliers), NFT Rental Pools, and Mortgage Pools. For instance, DAO members may decide which NFT collection or asset type may be serviced or removed from our network. Complete details of our DAO and token design will be released at a later date.

Meanwhile, feel free to join the discussion about token design on our Discord.

What blockchains does $VERA support and what are its token contract addresses?

$VERA is currently compatible with Ethereum, Binance Smart Chain, and Polygon wallets. The official $VERA token contract addresses for these blockchains are:

You may swap between ERC-20 and BEP-20 $VERA at any time using our Vera Swap secure cross-chain bridge powered by ChainSwap.

$VERA tokens that do not have either of these contract addresses are scams or fakes. Please be careful and do not be tricked!

What is the total supply of $VERA?

1,000,000,000 (1 billion) $VERA tokens.

Note that $VERA tokens combined on all chains will never exceed this amount.

What is the current market cap or circulating supply of $VERA?

The latest up-to-date information about $VERA's market cap or circulating supply are reported on CoinGecko or Coin Market Cap.

How much did Vera raise and who are the top backers?

Vera raised $4 million USD before its IDO public sale. Top backers include Web3 Foundation (grant), Animoca Brands, Sky Vision Capital, Infinity Ventures Crypto, Shima Capital, and several others world-class venture capital and private equity funds.

What were the presale investment vesting terms?

Multiple presale rounds for Vera have concluded:

  • Strategic Round: 15% released after 24 months, followed by 21.25% each quarter over 12 months (total vesting of 3 years)

  • Private & Strategic 2 Rounds: 20% released after 12 months, followed by 20% each quarter over 12 months (total vesting of 2 years)

When and where did the IDO take place?

Vera's IDO occurred on September 23, 2021 at 13:00 UTC on Polkastarter. Be careful, there are a lot of scam and phishing sites pretending to be Polkastarter so be careful of Polkastarter links you find on social media or search engine results.

What were the IDO public sale details?

Vera raised US$500,000 by accepting only ETH at it's Polkastarter IDO.

The maximum investment allocation per whitelisted investor was US$500 or 0.159 ETH ($3,144.65/ETH) and there was no minimum investment.

The $VERA public token price was $0.05 at a US$50 million valuation.

40% of the purchased tokens were immediately unlocked and the remaining 60% will be distributed quarterly over 6 months (30% every 3 months).

1,200 individuals out of about 80,000 whitelist applicants were randomly selected to participate in the IDO.

Are there countries banned from buying VERA’s IDO?

Individuals from the following countries were not allowed to participate in the IDO:

Afghanistan, Angola, Azerbaijan, Bahamas, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Cameroon, Canada, Chad, China, Congo, Congo (Democratic Republic), Cuba, Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Japan, Lao People’s Democratic Republic, Libya, Madagascar, Mozambique, Nicaragua, North Korea, Pakistan, Serbia, Seychelles, Somalia, South Korea, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Tajikistan, Trinidad and Tobago, Tunisia, Turkmenistan, Uganda, Ukraine, United States, Uzbekistan, Vanuatu, Venezuela, Virgin Islands (British), Virgin Islands (US), Yemen, and Zimbabwe.

What does Vera plan to do with the funds raised?

Vera plans to use the funds raised for product development, securing and auditing its smart contracts, and working with strategic investors such as Animoca Brands to expand its ecosystem into several upcoming major NFT games, metaverses, and consumer brands.

Here is a breakdown of the proposed usage of the $VERA tokens:

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