In this issue of "Vernacular Big Coffee", we invited Vidy co-founder & Asia Pacific CEO Matthew Lim to share his unique insights on the current situation of VidyCoin and what new gameplay it will bring.
About Vidy : Vidy has established the world's first invisible embedding layer, which can be seamlessly connected to any website in the world. Users can watch any online video by long pressing the text link without leaving the page. The tracking technology of its embedded layer records the time that each user watches the advertisement, and the advertisers reward publishers, advertisement content publishers (miners) and users according to the advertisement viewing time.
VidyCoin is built into a dual-token ecosystem by VIDYX and VIDY, enabling data owners to become data owners. The emergence of VIDYX may completely change the current situation where data owners cannot conduct fair data transactions and profitability operations on the Internet.
Introduction to the Vernacular Blockchain : The Vernacular Blockchain is a popular science introductory media serving the blockchain vertical industry. The official account has 200,000+ precise users. If you have friends around you who want to get started with blockchain, you are also welcome to recommend "Vernacular Blockchain".
The following is the original text of this dialogue:
01
Vidy's positioning and development
Vernacular Blockchain Sanli : First, ask Matthew Lim to introduce himself briefly.
Matthew Lim: Hello everyone, thank you for taking the time to participate in this AMA. My name is Matthew and I am the co-founder of Vidy. My partner and I founded this company from San Francisco in 2016 and we moved to New York last year. Today, we have offices in Shanghai, Singapore, Indonesia and New York. I am from Singapore and worked as an investment banker for about 3 years after graduation.
Vernacular Blockchain Sanli : As a video ad embedded layer, Vidy is redefining the digital advertising model. Compared with the traditional advertising model, what kind of advertising experience will Vidy bring us? What pain points can be solved in the advertising industry?
Matthew Lim: Vidy is the world's first distributed video advertisement distributor by embedding video advertisements into webpage text through the NLP consensus layer, and has exclusive patented technology. Vidy's patented content distribution model will forever change the way the Internet works. It is based on a new form of hyperlink, which is inspired by many years of use and practical experience of hyperlinks in the global field. On the basis of improving the limitations of traditional advertising, the patent realizes the utility of providing users and publishers with unparalleled convenience, practicality and simplicity.
Vidy is committed to building a distributed system that records the time when each user views an advertisement through its embedded tracking technology. Advertisers motivate publishers, advertisers, and users in the form of token rewards based on the viewing time of advertisements. We are committed to bringing the 600 million people who use ad blockers back to the market and helping users to effectively realize the neglected value of attention.
Vernacular Blockchain Sanli : What are the important developments since the establishment of Vidy? What is the overall development status now?
Matthew Lim: On July 8, 2019, we completed an excess IEO of 4.2 million USD on gate.io for the first time and successfully launched our first token, VIDY. Then, in October 2019, we launched Huobi. In December of the same year, we launched Indonesian fiat currency and VIDY trading pairs on Indonesia's largest digital currency trading platform INDODAX.
2020 is a difficult year for all industries around the world. Many companies have even gone bankrupt. People are isolated at home and cannot go out. The market has begun to realize that the traditional business model needs to be truly transformed into a digital model. In the middle of the year, many publishers came to us and asked, for example, when will the Vidy reward system go live? When will their customers and users start earning cryptocurrencies? When can they start using reward tokens in the ecosystem?
Because of this, we seized this opportunity during the epidemic and accelerated the construction of the Vidy ecosystem . We are very happy to cooperate with the famous Singapore "VOGUE" magazine at the beginning of the month and open the function of watching videos to earn Vidy coins. Users can use the earned Vidy coins to directly purchase products, donate to the foundation, forward to friends, and withdraw. Trading platform. At present, five days after the first wave of advertisements were launched, our statistical data found that the user response was overwhelming, and the interaction data was amazing. The 30 invisible micro videos embedded in VOGUE gained 400 million seconds of active views from users, which was obtained by VidyCoin wallet. A total of 78,000 new users registered.
02
Why Vidy launched VIDYX
Vernacular Blockchain Sanli : It is understood that on December 12, Vidy's new token VIDYX was officially launched on Gate.io. Why did Vidy choose to issue a new token VIDYX, and choose TRON instead of the more ecologically powerful ether Fang, what kind of considerations did the team make such a decision based on?
Matthew Lim: Our initial token, VIDY, was developed as an ERC20 token on the Ethereum blockchain, benefiting from Ethereum's ease of use and smart contract development ecosystem from the beginning. However, as Vidy's influence has grown significantly, it is becoming more and more obvious that the distributed infrastructure supporting the Vidy platform must be rethinked from the ground up to expand the scale of production. As mentioned earlier, after we opened up the function of rewarding Vidy coins for watching advertisements in VOGUE, we gained 78,000 new user registrations. This user-scale milestone has brought an insurmountable performance bottleneck to Ethereum-based operations.
These records confirm that in order to become the first widely used cryptocurrency project, it must be built on a blockchain infrastructure that can support Vidy's scale-up. By building VIDY on TRON, users of the Vidy platform will not be annoyed by the soaring GAS fee, nor will they endure unbearable transaction waiting time when redeeming VidyCoin revenue , especially considering Vidy’s experience and real website Seamlessly integrated, these websites provide services to users by responding to their actions instantly. We need a blockchain that can support large-scale development and can completely achieve low GAS fees or even 0 GAS fees.
As a micro-transaction platform, Vidy has established our own payment channel to replace the block congestion on the Ethereum chain. When our users are trying to conduct on-chain transactions, they need free and fast transaction support capabilities, in a few seconds Withdraw VidyCoin to your personal wallet within the hour. Out of anticipation of the market, we chose to develop a TRON-based token VIDYX for various rewards, transactions, marketing advertisements, payments, etc. within the ecosystem . VIDYX will become the world's largest cryptocurrency reward system. We believe that TRON will not only be faster and more scalable than Ethereum, but we will also benefit from the blue ocean of its network and the large-scale activities we bring to it without paying GAS fees.
Vernacular Blockchain Sanli : As a new Token built on TRON, what is the difference between VIDYX and the previous VIDY, and what is the relationship between the two? How does it work?
Matthew Lim: In Vidy's VidyCoin dual-token system, VIDYX and VIDY are closely related but different.
VIDYX is a pass in the Vidy ecosystem, which can be used for various rewards, transactions, marketing advertising, payment and other projects. Holding VIDYX is the only way to own the ownership of TDC and earn the benefits of other users of the Vidy platform. VIDYX can be earned by watching videos and can also be used for online shopping on related e-commerce platforms. In addition, video buyers and sellers on the Vidy platform, such as advertisers and media partners, must use VIDYX, and can directly supply or obtain related revenues paid by VIDYX.
VIDY is a holding mechanism for withdrawals, rewards, discounts and marketing activities in the Vidy ecosystem. For example, to withdraw VIDYX from an "invisible wallet", the Vidy platform does not charge a miner fee, but requires at least 1,000 VIDY in the user's account, that is, VIDY is regarded as the fuel for all VIDYX transactions and withdrawals. For users, holding VIDY, users can also get corresponding bonus rewards, while video sellers or buyers holding VIDY can get corresponding discount rewards, or the priority of keyword or field selection in marketing activities privilege.
The official website will open a limited-time one-way exchange channel from VIDY to VIDYX in the near future, and then everyone can exchange directly on the official website. The latest news will be released in the Chinese community as soon as possible.
Vernacular Blockchain Sanli : What is the value of VIDYX supported, and what is the economic model? What will support the currency price?
Matthew Lim: As a sustainable token economy, the VIDYX framework will empower publishers, video owners, consumers and e-commerce at the same time . Our original keyword hidden video embedding layer technology can be used seamlessly with any website in the world, with excellent compatibility. And after two years of preparations, we have accumulated more than 100 partners , and now after the official launch of VIDYX, you can directly access the Vidy video layer.
VIDYX will be the core token of the Vidy platform and the reward currency for users to watch videos: every time you long press the marked entry to watch the video, the reward VIDYX will be directly deposited into the user's wallet. Users can view income in real time, and can directly conduct online transactions, shopping and other operations on websites that support VIDYX. And this wallet is hidden in every website with Vidy embedded video, "Where does the user go, where to follow", a single entry, easy to operate.
Even if you use Vidy for the first time, users do not need to install any plug-ins, applications, or browsers. VOGUE’s test of the water proves that our prediction of the market is still very accurate. After the launch of the VidyCoin wallet, 78,000 new registrations were obtained within 5 days. As more platforms are launched on our video reward system, we will give coins. The circle brings more new currency holders.
After the release of VIDYX, Vidy rewards users for watching micro videos into three categories : VIDYX Rewards (VIDYX Rewards), Owner Rewards (The Owner Rewards) and Platinum User Status (Platinum User Status).
VIDYX reward means that users will get 5/6 of the corresponding number of seconds of VIDYX immediately after watching the video, and the other 1/6 VIDYX will automatically enter the "TDC bonus pool".
The holder reward means that when you hold a TDC, 1/6 VIDYX of the total revenue of the corresponding user group belongs to you. For example, if there are 50 users in a TDC, then 1/6 of the rewards that these users get every day belong to the TDC holder.
Platinum user identity is a special identity given to the top 10% of platform users who earn the most VIDYX by watching videos, which means they can share an additional 15% of the TDC bonus pool. These platinum users can get a share of the income of other TDC users, but they don't need to hold VIDYX. We hope to motivate users to develop their habits and encourage them to become daily activists. The value of VIDYX also revolves around the three actions of farming, burning and staking to form a sustainable development system.
03
Advertising + DeFi new ways
Vernacular Blockchain Sanli : Vidy combines its own business with DeFi mining mechanism. What kind of mining mode does VIDYX support?
Matthew Lim: The DeFi component of our token economy is unique, it is based on our actual users and active economy. What makes us different is that unlike many other DeFi tokens on the market, VIDYX is a utility token that has practical functions. We will also have components of the token destruction mechanism to ensure that the currency price remains within a reasonable range of fluctuations.
Vidy also plans to release a decentralized trading platform in the near future. Users can pledge the currency paired with VIDYX to our DEX to mine VIDYX. In this way, everyone can mine VIDYX conveniently, not just watching video mining. Our decentralized trading platform can also pledge TDC. This trading platform is expected to be launched early next year.
Vernacular Blockchain Sanli : DeFi is in full swing this year . What do you think of the follow-up development of DeFi?
Matthew Lim: I think DeFi has taken over and disrupted many blockchain specifications . Although it is still in its early stages, it will stay here for a long, long time. It makes us have to look at things from a very different perspective. The innovation from the blockchain industry is very special. I think this will force encryption technology, and many encryption businesses have to rethink their business models and structures.
Although DeFi currently has many shortcomings and limitations, such as high GAS fees and slow transaction speeds, these problems will be solved with the gradual development of blockchain infrastructure, such as Layer 2 protocols. I think DeFi's prospects are still very good.
Vernacular Blockchain Sanli : Ask a question that everyone is more interested in. In the future, in what ways will VIDYX try and which richer gameplay? Which trading platforms will be considered in the future?
Matthew Lim: I think the most interesting part of VIDYX is the actual mining : based on user operations (watching the video), based on economic activity (the advertiser actually paid VIDYX to the user who watched the video), and the important VIDYX has a price Sustainable, because there is always real demand. These rewards will stimulate user engagement on the site and advertisers. Another interesting part is that our company has established our own wallet, our own DEX , which will incentivize everyone to staking tokens. We have established a complete ecosystem. Eventually we will build a distributed e-commerce market, allowing our users to exchange their VIDYX for goods and services provided by advertisers and media on our platform. This is the application of our token in the real world, and not many projects on the market can do this.
Regarding the relevant trading platform plan, it is still confidential. Please pay attention to the official channels.
04
block chain floor applications
Vernacular block chain three Li: using the new currency VIDYX base around its advertising business, it can be said to promote the further development of the block chain entities ground application, do you think there are some specific areas in which the impact?
Matthew Lim: I think Vidy shows to the crypto and non-crypto world that cryptocurrency is not just a speculative financial tool for making money or raising funds. In fact, in our case, when it is used with a truly acceptable product, it can inspire very good results, which can also greatly stimulate user participation in the digital environment. Vidy showed how to make the user experience more gamified and direct traffic to the right place . I think we broke the myth that cryptocurrency projects cannot become mainstream because we just did it! In "VOGUE" magazine, we brought more than 168,000 new users to the cryptocurrency industry. This is a major breakthrough in all aspects, letting people know that the encryption industry may become mainstream. We hope to become a leader in this market.
Vernacular Blockchain Sanli : Recently, Bitcoin is approaching $20,000. Many people think that this wave of bull market is brought by overseas institutions. What do you think of the development of the blockchain industry next year? Do you think the breakthrough of Bitcoin will give the entire industry What changes did it bring? How will your team embrace this change?
Matthew Lim: I think the rise of Bitcoin is inevitable. The facts over the years have proved that this is a good distributed investment method for people who want to store assets. The amount of money printed by the bank is incredible, but people cannot feel it. Bitcoin is transparent, its supply is limited, and it is being adopted and accepted more and more widely.
I think its effect on the entire crypto community is that it will open a new window of opportunity for crypto projects to go mainstream. But my only concern is that many encryption projects are not long-lasting, and they are never intended to become mainstream or long-term landing projects. Therefore, I hope we can see more projects become mainstream, because the environment has changed and traditional industries are increasingly accepting and welcoming real encryption applications and projects. This is evident in our cooperation with "VOGUE" magazine. In the coming weeks and months, you will see more and more publishers and advertisers starting to use our cryptocurrency for advertising.
05
community questions
1. Vidy launches VIFYX based on TRON. Will there be in-depth cooperation with Sun Ge in the future?
Matthew Lim: After we move to the TRON blockchain, we will try our best to cooperate with the TRON team as much as possible. We hope that we can also let the world see that TRON is actually helpful for projects that are really going to be implemented.
2. What is the total amount and circulation of VIDYX?
Matthew Lim: The total circulation of 1 billion is now 3%, but VIDYX is released every day according to the amount of videos watched.
3. VIDYX has recently been listed on the Gate trading platform. Do you have any plans to follow up? Is it convenient to disclose?
Matthew Lim: Definitely, waiting for news.
4. Are there any plans to go up to a decentralized trading platform?
Matthew Lim: Yes. We also have our own decentralized trading platform. You can also hold VIDYX there. Waiting for the announcement!
Award-winning interaction
Have you understood the application of blockchain in the advertising industry? How do you see his future development? Welcome to write down your opinion in the message area. The editor will place the top 2 excellent messages, and each will receive one of the following books. Event deadline: December 20th.
Academician Chen Chun of the Chinese Academy of Engineering and other industry experts strongly recommend authoritative works focusing on the core principles and application technologies of blockchain.
Previous post: The DeFi dark horse that caused the most people to "shoot thighs": launched in 2017, it will only explode in 2020
▎Recommended reading
What is the sudden rise of DeFi (decentralized finance) this year?
Dancing with Zhuang, an article to understand the nine kings held by the "encrypted whale" Gray Fund
DeFi can't stop! Ethereum's financial "building" is gradually taking shape
——End——
"Disclaimer: This article is the author's independent point of view, and does not represent the vernacular blockchain position. This content is only for the popular science learning and exchanges of encryption enthusiasts, and does not constitute investment opinions or suggestions. Please treat it rationally, establish a correct concept, and increase risk awareness. The copyright of the article and the final interpretation right belong to the vernacular blockchain. 』
Dear, it is said that 99.9% of interesting people have ordered "Watching"????