What Is vEmpire DDAO (VEMP)?
vEmpire DDAO is a decentralized metaverse investment platform. The platform claims to be the first organization that allows traders to earn yield on their digital assets held within the metaverse.
Metaverse is a virtual world made of technologies like virtual reality and augmented reality that users can access using digital computers and VR devices. The vEmpire protocol aims to decentralize the metaverse by deploying various strategies that incentivize crypto staking within the virtual space. The platform seeks to protect decentralized technologies by acquiring digital assets on the metaverse. In fact, according to the vEmpire DAO’s whitepaper, the blockchain platform aims to invade the metaverse by acquiring virtual real estate on a large scale to establish its significance in the virtual space.
vEmpire functions as a democratic, decentralized autonomous organization (DDAO). A DAO is a community-driven organization that aims to run without central leadership or authority, seeking to ensure autonomy and transparency. vEmpire DDAO is a DAO system designed to provide monetary rewards to metaverse users loyal to the organization while simultaneously empowering the community.
VEMP is the native cryptocurrency of vEmpire DDAO. The protocol uses the token to reward liquidity providers and stakeholders, aiming to make VEMP an influential cryptocurrency within the metaverse. VEMP holders can also stake their tokens to acquire xVEMP, the governance token required to partake in voting to control the protocol’s development and expansion. Additionally, users also receive VEMP tokens as rewards for playing the trading card battles within the vEmpire space.
History of vEmpire DDAO (VEMP)
vEmpire DDAO was launched in June 2021 by CEO Dominic Ryder, a former venture capitalist and wealth management expert. Apart from Ryder, the core team consists of COO Mike Ryder, marketing and operations head Harvey Woods, creative content lead Jack Dolby, and research analyst Petar Gavrilov. VEMP has a maximum total supply of 810,720,000 tokens, out of which 96.5 million were during the initial offering. Of the initially sold tokens, 55% were staked on the platform.
