In this article we will talk in detail about PVY, the ERC-20 token that forms the backbone of the PornVisory ecosystem:
- Ticker: PVY
- Standard: ERC-20
- Decimals: 18
- Total Supply: 100,000,000
- Contract Address: 0x7bf878a25f7d34D392EBC8d14E33478966c7CA75
The total Supply will be divided as follows:
- 30%, equal to 30,000,000, for the development and maintenance costs of the project. They will be progressively placed on the market through liquidity pools (such as Uniswap) fed by a programmed inflation ranging from a minimum of 1000 to a maximum of 5000 tokens per day.
- 5%, equal to 5,000,000, will be subject to airdrops programmed in several stages within the first 24 months of the project life. The remaining amount will be burned.
- 10%, equal to 10.000.000, to give the rewards to the active users in the gamification actions, including the viewing of the videos inserted in our website.
- 10%, or 10,000,000 will be used to reward the tokens staked to participate in the decentralised governance of the platform.
- 10%, or 10,000,000, will be allocated to the Pornvisory team and released in quarterly tranches (2,500,000 every three months).
- 1.50%, equal to 1,500,000, already allocated to the DFO team for the opening and management of the decentralised governance structure
- 33,50%, equal to 33.500.000, allocated as a strategic reserve to feed any further attributions to users for the above-mentioned reasons (airdrops, rewards, staking), support future partnerships or further technological developments of the platform.
Now, let’s see with more details about the token usage.
- LIQUIDITY POOLS
We started to use Uniswap V.2 where we have a first pool for the ETH/PVY pair, which is already active. We plan to add another pool very soon, with a pair of PVY and a stablecoin chosen by the community among USDT, DAI or USDC. We will then open pools on Bancor and other DEXs.
Liquidity Pools will be fed by a programmed inflation that will follow the spending needs related to the development and maintenance of the project. When issuing new tokens, we will never go below or above the established range (a minimum of 1000 to a maximum of 5000 tokens/day).
We studied several forms of free allocation of tokens, untied by the performance of specific actions, which will be carried out periodically during the first 12 months of life.
We will not give all the details in this post, so as not to spoil the surprise, but we can say that we will reward both token holders and those who actively participate in our communication channels, without forgetting the members of specific communities connected to us today (for example DFO HUB) and in the future.
The first claim of our project is “PornVisory, the first site that rewards you for watching pornographic videos” and so it will be because we will develop the technical tools so that every user who goes to watch one of the videos we reviewed, will get a reward in PVY.
In addition, we will ask our users to actively participate in the life of our project, doing actions that will have both promotional and communication purposes, and the creation and selection of content such as articles and video reviews for Pornvisory.it and Pornvisory.com.
These actions will also be rewarded with the free assignment of PVY.
One of the most innovative aspects of PornVisory is the fact that its governance is decentralized and the community of token holders can interact and decide about the development of the project through a particular form of DAO: the Decentralized Flexible Organization, created by the DFO HUB team.
Thanks to this system of governance, we will make it possible to propose and vote on several aspects that will regulate the life and functioning of the platform.
In a next article, we will give more details on this topic, but for now, we just need to know that to participate in the governance will have to put the PVY tokens in staking, so that each address can prove to have the minimum amount required and thus acquire the powers attributed to the token holders.
As it happens in many projects where it is asked to block tokens for a certain period, also in PornVisory we think it is right to reward with “staking rewards” the token holders who will actively participate in the management of the initiative.
The members of the Team, that is the Founder of the project as well as the management core of the initiative, will be rewarded with a token share equal to a total of 10% of Total Supply.
However, this share will be transferred in 4 quarterly tranches, in order to avoid creating sudden increases in Circulating Supply that could negatively affect the price.
6. DFO HUB
As per the operating practice of this platform, all DFOs created within this platform must pay DFO Hub team a fee of 1.50%, which is paid in the same tokens created for the project.
7. STRATEGIC RESERVES
We decided to keep a rather substantial stock of tokens, because during the growth of the project there could be a series of events that would require additional amounts of PVY, for example:
- Our decision to proceed with additional airdrops even after the allocated quantities have been used up.
- Massive participation in the gamification activities, which will absorb — faster than expected — the quantities set aside for the rewards.
- The finalization of partnerships with external subjects (aggregators/content producers, suppliers of products or services, etc.), which make their involvement also appropriate through the “donation” of an amount of tokens.
- The conception of new initiatives, which involve the need to dedicate additional resources to software and graphic development, as well as to their maintenance.
INFLATION and DEFLATION
So far, we have seen how the Circulating Supply of PVY tokens will be established and increased over time. Now let’s analyze two other equally important aspects: the actions aimed at deflation/shortage and the uses of PVY tokens.
The staking, necessary to obtain the governance powers in PornVisory’s DFO, will be a considerable cause of scarcity as it will take out of circulation — for variable periods of time — a not indifferent amount of tokens.
Having fewer tokens on the market reduces supply and creates positive repercussions on quotation prices, also compensating the inflation generated by the staking rewards themselves.
But that’s not all, because in order to create deflation and progressively reduce the amount of existing tokens we decided to implement several “burning” events, i.e. the definitive elimination of lots of PVY from Total Supply, linked for example to:
- The number of registered subscribers to the platform: each month, we will burn a total of tokens multiplied by the number of new total users, i.e. the increase in subscribers compared to the previous month.
- The turnover of purchases made with PVY: we will burn half of our margin on products offered for sale made with PVY. However, up to a percentage of 5% of the sales value.
- Exceptional Burning, decided by the Team or the Community, with or without ties to external events.
And finally, we see the use of PVY tokens.
We have already talked about the governance powers granted to token holders after the tokens have been deposited and blocked for a certain period of time. Those who want to vote to take decisions on the development of the platform will have to hold PVY in order to have governance powers.
Staking will be remunerated at an annual rate (APR) of 5%, and the reward will be paid in PVY.
As announced several times in the preparatory phase of the initiative, our website will contain a section where it will be possible to purchase services and products on third-party platforms, using PVY directly.
Among these products, Pornvisory will also have its own NFT, as partworks that can be purchased with PVY. This will be the subject of a subsequent article to explain what they are for, how to use them and where to buy them.
In fact, we will finalize agreements with external partners to accept our PVY tokens as a means of payment in their e-commerce.
We are really excited — forgive the pun — to start this initiative of ours, and we want to listen to your opinions, suggestions and criticisms to make PornVisory and its ecosystem ever closer to your wishes.