Contribution Tokens: Definition

Contribution tokens are tokens coordinating a community that collaborates with the leading team of a yet unproved project.

Continuously issued tokens…

They are continuously issued and distributed in exchange for contributions that are proposed and described by the leading team. Those needs can be diverse: funding of course, but also marketing, audit — debugging, UX test, translations, content creation, etc. The team will propose milestones with specific contributions required and a the “price” equivalent in contribution token.

…attributed by the project team to contributors…

The only way to acquire Contribution tokens is therefore to contribute by fulfilling those demands for contribution. Contributors should therefore be seen as active members of the project working hand in hand with the leading team to bring the project to production.

…for a limited time period…

Life duration of contribution tokens should be foreseeable for an extended period of time, fixed between a few months and several years. During this period, the Contribution tokens are illiquid and will give access to special gifts and features. We are also exploring the opportunity to give those tokens a role in the governance of the projects — which would help validate or invalidate ideas, initiatives from the team. But one the most interesting feature of those contribution tokens is that they will be converted into the future liquid asset created by the team.

…that will end with the launch of the product and attribution of the final token.

Indeed, the Contribution tokens will ultimately be transformed into another liquid and valuable asset — most likely a utility token (i.e liquid tokens that give access to a service or protocol), and could also be structured as “reward tokens” giving right to a portion of the products’ revenues if no utility token makes sense in the final product. The final token will reward contributors proportionally to the success of the project.

VCT During the Open Alpha

Contributions offered will be kept at low-scale during the Open Alpha release of VariabL. Simple tasks like testing the UI, providing feedback, hunting bugs or creating and sharing contents will be rewarded. Once a satisfying design and legal frame will be found for VariabL Contribution Tokens, we will offer larger VCT bounties and open new forms of contributions such as financing specific milestones.

Biggest VCT holders will very likely benefit from various features such as early access to new features and special gifts, VariabL goodies, priority passes to future trading challenges etc.

The Attribution scope and the VCT issuance Journey during the open alpha are detailed below.

Attribution Scope

We are still designing the allocation cases but the main idea is to reward every contributor who helps us to improve and test our product. Exact VCT amounts given to specific contributions have not been set in stone yet and will be determined along the way following one rule: the VCT are distributed proportionate to the value brought by the contributor to the project.

Bear in mind that these attribution rules are given as examples and will also evolve with the project and the community that will help us building them.

Here are a few examples of VCT attribution rules from initial specs:

Referral: Referring our product is probably the easiest way to earn tokens, ant it is absolutely essential to help us grow our community. We decided to give our members small, yet attractive, perks for helping us spread our vision: (The value of these contributions will be determined by the team. Contributors can notify the team for any referral work on the slack channel #variabl-vct-rewards).

Referring our product is probably the easiest way to earn tokens, ant it is absolutely essential to help us grow our community. We decided to give our members small, yet attractive, perks for helping us spread our vision: (The value of these contributions will be determined by the team. Contributors can notify the team for any referral work on the slack channel #variabl-vct-rewards). Ranking: You can win VCT by performing in our trading challenges. In our Open Alpha coming out on September 8th, the rankings will be refreshed every two week, so that every trader will have to chance to be among the bests.

- The three best traders of every period (2 weeks) will earn rewards respective to their positions.

- Special medals (with VCT) awarded for best, worst and unusual performances. These rewards will be disclosed every two weeks.

You can win VCT by performing in our trading challenges. In our Open Alpha coming out on September 8th, the rankings will be refreshed every two week, so that every trader will have to chance to be among the bests. - The three best traders of every period (2 weeks) will earn rewards respective to their positions. - Special medals (with VCT) awarded for best, worst and unusual performances. These rewards will be disclosed every two weeks. Joining: You can also earn some VCT tokens simply by participating to the Open Alpha. Here a few more examples of allocations cases where you can win VCT:

- Create an account on the Open Alpha

- Complete the slack form and join our channels

- Subscribe to our Newsletter

You can also earn some VCT tokens simply by participating to the Open Alpha. Here a few more examples of allocations cases where you can win VCT: - Create an account on the Open Alpha - Complete the slack form and join our channels - Subscribe to our Newsletter Trading: When using our main features aka Trading, you will also earn VCT. The more orders you place, the more liquidity we will have on the platform and the closer we will be from the user experience of a mature trading platform.

- Create an order: place a short or long position

- Create a contract: matching an order

When using our main features aka Trading, you will also earn VCT. The more orders you place, the more liquidity we will have on the platform and the closer we will be from the user experience of a mature trading platform. - Create an order: place a short or long position - Create a contract: matching an order Troubleshooting: (You can ask for it on the slack #variabl-vct-rewards)

- Bug bounty: find a way to stall or steal money from the contracts deployed on the VariabL platform, or find a way to significantly undermine the activities of our website and server.

- Give a relevant feedback to the team on slack (cf example below)

Many more use cases will appear while building the solution and designing VariabL Contribution tokens specs. Again, you can help us setting Attribution Rules (and earn VCT for it) on this document.

The VCT Journey

Let us walk you through the VCT Journey of an alpha trader. Few examples will provide you with a better understanding of how VCT issuance concretely works on our Platform and Slack Channels.

After registering, each alpha tester earns 50 VCT Tokens and the VCT balance is updated accordingly and is displayed in the main user interface.

The example below shows the screen displayed when the trader Nethan decides to place an order. He is placing an order through the fonction “Instant Trade”, through a “Short x4” with a “Premium” of 0.499%.

“Instant Trade” order: “Short x4” and 0.499% “Premium”

Once the contract has been mined, the position is open for a maximal duration of 24h and the VCT balance is updated accordingly.

As previously mentioned, you will mainly earn VCTs by Trading, so each time you will place an order, either by trading instantly or matching an existing position, you will earn an amount of VCT tokens proportional to the amount of ETH traded. In this example, the increase corresponds to 1/10 of the ETH Quantity in the position. (cf updated VCT balance)

In addition to trading rewards, VCT rewards are managed with a bot and given for contributions on a public channel (#variabl-vct-rewards).

For instance, Nethan found a bug in the trading interface, notified it to the team and claimed his rewards on the #variabl-vct-rewards channel (by sending us the information). We will credit his account accordingly and send him a notice.

The screenshot below illustrates it: our bot “VCT Rewards” automatically informed the trader “Nethan” that his accounts had been credited with 50 VCT.

Your balance can be checked directly on the channel by typing “balance pseudo”. Other features and interactions with the bot will be implemented soon.

Join the discussion

As previously mentioned, we are currently maturing the idea and are collaboratively building specs for our Contribution Tokens. A wide variety of topics will be discussed, among which: future VCT/USD Value, price increasing rate, liquidity, KYC (Know Your Contributor), Fair Distribution, Governance etc. Join the discussion and give us your input!

Contributors will be rewarded according to VariabL’s success so it is in everyone’s interest to make it successful.