Viction PriceVIC

What is Viction?

Viction (VIC) is the native utility token of the Viction blockchain, a high-performance, EVM-compatible layer-1 network designed for mass adoption with a focus on zero-gas transactions for users.

Viction is a public blockchain platform that combines high throughput, Ethereum compatibility, and a unique economic model to foster mainstream decentralized application (dApp) adoption.

Key takeaways

• Viction is a scalable, EVM-compatible layer-1 blockchain formerly known as TomoChain.
• Its core innovation is the use of Proof-of-Stake Voting (PoSV) consensus, which lets VIC holders stake to become masternode candidates or vote for candidates.
• The network is designed around zero-gas transactions for end-users, and its VRC25 token standard lets network fees be paid using the token itself.
• VIC is used for staking, governance, and paying for developer-initiated transaction fees on the network.
• Viction aims to be a foundational platform for building user-friendly Web3 applications.

Key Specifications & Tokenomics

Token Distribution: Initial distribution allocated 50% to the governance treasury and 21% to the TomoMasterDAO team, with the remainder spread across other departments.

Who created Viction (VIC)?

TomoChain Pte Ltd., the parent company of TomoChain Labs, was founded in 2017 by Long Vuong, Tung Hoang, Le Ho and Son Nguyen; the project itself launched in 2018 as TomoChain and was rebranded to Viction in November 2023. Long Vuong was also a co-founder of the NEM blockchain project. Co-founders include Le Ho (CFO, CFA charterholder), Nguyen Sy Thanh Son and Tung Hoang; Kyn Chaturvedi serves as Director of Operations and Development. In November 2023, TomoChain was rebranded as Viction; the ticker change did not involve technical changes to the smart contracts, tokenomics, or token supply.

Funding: The project raised $8.5 million in its ICO; it is tagged as part of the DWF Labs portfolio, and DWF Labs and Arche Fund reportedly participated in later rounds (details undisclosed).

How does Viction (VIC) work?

Viction operates on a consensus mechanism called Proof-of-Stake Voting (PoSV). PoSV lets VIC holders stake to become masternode candidates or vote for candidates; 150 elected masternodes validate transactions and produce blocks, and the design uses double validation and randomization to support chain finality.

• Consensus (PoSV): VIC token holders can stake their tokens to become candidates or vote for other candidates to become Masternodes. A set of 150 Masternodes is elected to validate transactions and produce new blocks.
• Zero-Gas for Users: A standout feature is its zero-gas fee model for end-users. When interacting with dApps, users do not pay transaction fees. Instead, developers pre-pay for gas in VIC tokens to sponsor these transactions, removing a significant barrier to entry for new users.
• VRC25 Token Standard: Viction's VRC25 token standard lets users perform token actions without holding the native token, since network fees can be paid using the token itself; for dApp interactions, developers can pre-pay gas in VIC to sponsor users.
• EVM Compatibility: Viction is fully compatible with the Ethereum Virtual Machine (EVM). This allows developers to easily port their existing Ethereum smart contracts and dApps to Viction with minimal changes, leveraging its higher speed and lower cost structure.
• High Performance: The PoSV consensus and Masternode architecture enable the network to achieve high throughput (over 2,000 TPS) with a 2-second block time, making it suitable for high-demand applications.

What makes Viction (VIC) unique and valuable

Viction distinguishes itself through a combination of user-centric design and robust technology.

• Zero-Gas User Experience: By eliminating gas fees for users, Viction directly tackles one of the biggest pain points in Web3. This model can drive mainstream adoption by making dApps as frictionless as traditional web apps.
• Proven PoSV Consensus: The Proof-of-Stake Voting mechanism has been operational for years, providing a stable and secure network. It encourages active participation from the token holder community in network governance and security.
• Strong Developer Appeal: Full EVM compatibility means a vast pool of Ethereum developers can build on Viction immediately. The developer-pays gas model also allows dApp creators to design better user onboarding flows.
• Rebranding and Vision: The transition from TomoChain to Viction reflects a clear, forward-looking vision focused on becoming the foundational layer for the next billion Web3 users, moving beyond its initial technical roots.

What is Viction (VIC) used for?

The VIC token is integral to the security, operation, and growth of the Viction ecosystem.

• Staking and Securing the Network: Users stake VIC to participate in the PoSV consensus, either by becoming a Masternode candidate or voting for candidates. This process secures the blockchain and earns staking rewards.
• Governance: VIC stakers have voting rights on key protocol upgrades, parameter changes, and ecosystem fund allocations, participating in the decentralized governance of the network.
• Developer Gas Fees: Developers need to hold and spend VIC tokens to pay for the network fees (gas) of the transactions they sponsor for their dApp users. This creates a fundamental demand for the token.
• Transaction Fees: For non-sponsored transactions or other network services, fees are paid in VIC.
• Ecosystem Utility: VIC is used across various dApps built on Viction for payments, rewards, and access to premium features.

How to buy VIC Coin?

VIC is listed on several major exchanges. To buy it, open an account on a reputable exchange that lists VIC, complete identity verification, deposit fiat or a stablecoin such as USDT, and place a spot order for a VIC trading pair. Always verify the contract address (0x05d3606d5c81eb9b7b18530995ec9b29da05faba) when withdrawing to a self-custody wallet.

Risks

VIC is a volatile crypto asset; its price has fallen sharply from its all-time high and can fluctuate widely. Risks include market volatility, regulatory uncertainty, smart-contract and consensus risks, and the project's dependence on continued developer adoption. This article is for information only and is not investment advice.