After going through 2020 with various interesting activities and achievements, the Vexanium Team is ready to look forward to designing a development plan for the Vexanium blockchain in Q1 2021. After discussing with Vexanium block producers and core developers, the Vexanium blockchain roadmap has been set for Q1 2021.
Table of Contents
1. DIP using USDV Token and Smart Contract Training
First Vexanium Team will focus on the DApps Incentive Program. The program carried out in 2021 will be a little different from the previous year. In 2021, Vexanium will promote the use of the USDV token. By replacing the VEX coin with USDV (which is backed by USD value), people who are new and want to enter the blockchain world can find it easier to find out the reward value of the program. It will be easier for new users to join this program because it uses a stable coin as a reward.
We will also continue to hold Smart Contract Training, so all the users who are participating in the Smart Contract Training can immediately join the DApps Incentive Program.
2. VEXSwap Launch – Decentralized Token Exchange
VEXSwap is a decentralized token exchange based on the Vexanium protocol. This decentralized finance application will be launched in Q1 2021. With this application, users can fill the liquidity pools and by doing so users can get transaction fees from this application. All of this runs automatically using a smart contract. There are lots of features of this VEXSwap, like Instant Swap, Unlimited Liquidity and many more.
3. VEX Coin Burn
There will be 35 million VEX coin burn in Q1 2021. It will be from 2 sources: first, approximately 15 million VEX consists of VEX Saving worker proposals (inflation from mining); second, 20 million VEX will come from the Vexanium core developers wallet. This was done in order to reduce the supply of VEX coins.
The 15 million VEX was the result of inflation from the Vexanium blockchain mining. As we know, every year there is about 5 percent of total inflation from the Vexanium blockchain, of which 5 percent is divided into a pool called worker proposals. So this is a reserve fund. 3 percent of the 5 percent of inflation will be burned. Meanwhile, the 2 percent will be divided equally among all miners or block producers.
4. Block Producers Stimulus Program
The fourth is that there will be new mechanisms for block producers of program stimulus in Q1. First, we invite technical block producers from other blockchains. There will be rewards for you BPs who can invite other BP blockchains into the Vexanium ecosystem. The second is technical BP. Third, BP universities and other educational institutions. Fourth, BP is the maker of DApp and DeFi. And finally, the existing BP as BP in Vexanium, this is done to give rewards to the old BP so that it can continue to run on the Vexanium blockchain.
5.VYNDAO Block Producers
Fifth, VYNDAO Block Producers. This block producer is for all the VYN token holders. With VYN Token, users can stake their tokens and get mining rewards from the VYNDAO ecosystem, just like at the Vexanium block producers.
6. VEXBridge – Other Blockchain Integration
Sixth is VEXBridge. So Vexanium will be a bridge for several other blockchains. For example Bitcoin, Ethereum, and EOS. In hope, Vexanium can become the bridge for other blockchains. For example, if you have an EOS token, then you can store the token on the Vexanium blockchain.
In Q1 it will start from the Ethereum blockchain. That way, some ERC 20 tokens can also run on the Vexanium blockchain. Then the smart contract that you build on Ethereum or EVM can also run on Vexanium. This integration process is in progress at the moment.
7. Vexanium Global Community Contributor Program
The seventh is the Vexanium Global Community Contributor Program. This program aims to increase the global influence of Vexanium because currently, Vexanium focuses more on Indonesia. So in 2021, the focus of Vexanium is to further introduce Vexanium to crypto and blockchain communities abroad. Further details of this program will be announced later, such as KOL, business connectors, developers and so on. It is hoped that all of this can be a positive part of the growth of the Vexanium blockchain.
8. BP and Community Discussion Proposal
The eighth is a proposal that continues to be discussed through regular BP discussions. These discussions are trying to improve the rules on the Vexanium blockchain because all the rules on the Vexanium blockchain can be updated depending on the agreement of 21 active BPs. There are several discussions that are being carried out continuously by the community.
Here is the list of the proposal that is currently being discussed:
- VEX Fixed Supply
- Periodically Halving of VEX Rewards
- Increasing Number of Active Block Producers
- Block Times
These proposals are still tentative and are being discussed by all BP. After completion, the decision will be announced in the near future to the community in Q1 or Q2 2021. This discussion was held because Vexanium is already running in a decentralized manner and its votes are determined by active block producers.
That is the roadmap for Q1 in 2021. We believe that together we can build the future of decentralization. That’s all from me, thank you and goodbye.