Nick Chong · 2 hours ago · 2 min read
Market Cap $343,072
24H Volume $16,769
Circulating Supply 176,415
Total Supply 1,000,000
Announced Apr 25, 2020
Vether is designed to be a store-of-value with properties of strict scarcity, unforgeable costliness and a fixed emission schedule. Vether mimics characteristics of Bitcoin, where miners compete to expend capital to acquire newly-minted coins and chase ever-decreasing margins.
Instead of expending capital, Vether participants compete to purchase it by destroying capital on-chain. As a result, all units of Vether are acquired at-cost and by anyone. This mechanism is called Proof-of-Value.