VRYNT Token

Overview

The VRYNT Token is a functional utility token that is used as the medium of exchange between participants on the VRYNT platform in a decentralized manner. The goal of introducing the VRYNT Token is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the VRYNT platform.

There is a fixed supply of 10,000,000,000 (ten billion) tokens on the AVAX Blockchain.  The token has no designed inflationary or deflationary aspects.

The VRYNT token address is: 0xe457c5fe85d0563b2ca389354da307516a8edd87

How to get the VRYNT Token

VRYNT Tokens can be purchased directly on the MEXC exchange.  Additional exchanges may be added in the future. 

Outside of purchasing tokens on exchanges, VRYNT tokens can be obtained by swapping VRYNT Proceeds for VRYNT Tokens on VRYNT.io in the following manner:

1. User sells a VRYNT NFT, Component or Pack on the platform
2. The seller receives VRYNT Proceeds for the sale.
3. The VRYNT proceeds can then be swapped for VRYNT Tokens
4. When the user claims the swapped VRYNT Tokens, it's sent to the wallet (Torus, MetaMask, etc.) that is linked with the account.  
5. The user can trade the VRYNT tokens on supported exchanges for USDC or other supported tokens.

Token Uses

VRYNT Credit Purchase

VRYNT Tokens can be used to purchase VRYNT Credits (VC) on the platform.  

Staking

Token holders can use VRYNT tokens to stake on the platform.  For securing the quality assurance mechanism, staking allows rewards in VRYNT tokens and various other rewards.  There are three levels of staking that can be achieved:

• Bronze Level:  Purchased with $25 worth of VRYNT Tokens
• Silver Level:  Purchased with $250 worth of VRYNT Tokens
• Gold Level:  Purchased with $1,000 worth of VRYNT Tokens

Holding one of these levels entitles the user to earn additional rewards by referring other users to the platform.