Vid (VI) Litepaper

  • On a mission to democratize money by providing a real world solution to the ‘earning problem’.
  • Paying all app users daily to use social media.
  • Building ‘One’ wallet to hold all crypto, fiat and VI, enabling one-click transfers from crypto to fiat, opening up spending on the One debit card.
  • Paying users interest on all currencies stored in the One wallet (coming Summer 2021).
  • Enabling micro-transfers between users, as they ‘like’ each others’ content.
  • Selling NFTs in the form of hashtags/tags, which can be bought for future recurring revenue streams.
  • Over 71,451 users
  • 25% user growth in January ‘21
  • Over $200,000 earned by Vid users
  • >200k Vids created so far

Terms

What is Vid?

Vid is on a mission to democratize money. That means helping people to earn, invest and grow their wealth as easily as possible.

  • The VI token
  • The One wallet
  • The Vid app
  1. Vid offers a unique combination of social media experiences:
  • A video feed like TikTok’s, optimizing for quick and entertaining video snippets.
  • Micro-payments, like Patreon and Only Fans, allowing users to tip one another with tokens they earn in-app.
  • Groups, similar to Telegram, encouraging further interaction and conversations.
  • Network effects, with the potential of growing into the next Facebook, with new features being added throughout 2021.
  • Unlike any other social media platform, on Vid every user who logs into the app, earns.

VID, the App

There are to be 6 core areas within the Vid app.

  1. The Profile Page holds a user’s draft and all finalised Vids, the user’s impact score, and information on their following and follower lists. It’s the user’s home base and personal journal.
  2. The Following and Explore Feeds are where users can view Vids from the users that they are following, and explore Vids from other users in the wider community.
  3. Search allows users to search among hashtags to discover Vids with common themes, and search among usernames to look up any Vid user directly.
  4. The Camera allows users to capture content, to create new Vids.
  5. Storyboard, where users edit and create their content adding text, music and soon a range of other editing features.
  6. Groups, due to launch in Spring 2021, will allow users to create and join public and private communities, to share Vids and conversations along a particular theme.
  • Every day, 7,000 VI is released from a smart contract, and 45% is shared among that day’s active users in vibes, resulting in a total of 3,465,000 vibes a day. Users earn different amounts of vibes depending on their activity compared to other users.
  • Users receive vibes from other users, sent as likes to their shared content. At the time of writing, each of these likes can be as small as 50 vibes, or as high as 10,000 vibes.
  • Users who successfully invite others to join the app will earn 500 vibes per signup, and the new user will receive 500 as well.
  • Users who purchased hashtags as NFTs will receive residual income, earning 1% of all vibes gifted to Vids featuring that tag. Those vibes are not taken from the part of the content creator (he/she will always receive the same), but taken from the part of the foundation.
  • Users will soon earn interest on fiat and cryptocurrency held in their One wallet, which will be released in Summer 2021.
  • Consistency, or how many consecutive days (meaning time blocks of max 24 hours) that user has been active in the app, and compared to other users.
  • Viewing, or how often the user views other users’ Vids.
  • Reach, or how often the user’s Vids are viewed, relative to other users.
  • Creating, or how often the user makes Vids, compared to other users.
  • Engagement, which is a calculation based on the view-to-follower ratio

The VI Token

Token Key metrics (as of March 15th, 2021)

  • They’ll always be able to claim the top position for that tag’s search result. If a user posts a Vid tagged with their own tag, that Vid will automatically appear at the top of that tag’s page. Every person who searches for that tag, or clicks on it somewhere else, will see the Vid of the tag-owner first. When tag following is build, the Vid of the tag-owner will appear first in the feed for people who follow that tag. This brings interesting advertising opportunities later on.
  • Tag owners will also receive 1% of all vibes sent to any Vids with their tag on them. This percentage comes directly from Vid’s cut of the transaction, and doesn’t impact the recipient user.
  • Tags can even be sold by the current tag-owner and then provide the same benefits to any new owner.

One Wallet

Vid’s One wallet is a digital wallet, in development, to hold users’ USD, EUR, GBP, BTC, ETH, and VI at first and gradually also other crypto and fiat currencies. Vid’s cutting-edge “DeFi in one click” technology will bring high DeFi interest rates (>10%) to all Vids users, with none of the complexity of blockchain and DeFi. One wallet users will also be able to use their One debit card to spend these currencies.

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Vybit Community

Vybit Community

1.3K Followers

Vybit is a social media app that rewards users and creators with Vibes for the value they generate. Vibes can be swapped to VI, a Solana based cryptocurrency.