VREM Foundation
VREM token
"Network effects will ultimately stem from ecosystems and applications built upon financial and identity infrastructure. However, initial tokens will be distributed to all network participants to foster network growth and help solve the 'cold start problem.' VREM is tied centrally to SecretID, a privacy-centric global user identity network. Using SecretID, individuals can prove their user identity to any platform integrated with the protocol. This promotes fair airdrops, prevents bot/witch attacks on social media, and ensures the fair distribution of resources. Collaboration between platforms will amplify the network effects."
VREM Wallet and Eco-Partner Apps
- Web3.0 Wallet: A Web3.0 wallet utilizing the VREM SDK.
- ScanM: An NFT project that incorporates invisible code.
- Theia: A financial app that integrates a mobile POS (Point of Sale) system with a Web3.0 wallet.
Foundation and Governance Initial Contributors
VREM aims to provide a comprehensive user identity verification network for all users and platforms. This requires a decentralized protocol and ecosystem. Ensuring flexibility and maintaining harmony with participating users and platforms can only be achieved through decentralization. A critical step towards such decentralization is the establishment of the VREM Foundation. This section introduces the foundation and its governance philosophy, which will be shaped by community participation. Initial contributors consisted of developers, individuals, economists, and technology experts, notably, the tech experts clinched a victory at the Ethereum hackathon in 2022.
The VREM Foundation, a decentralized entity ("Foundation"), was established on October 15, 2023, to act as a non-profit steward of the VREM protocol, supporting growth goals until the ecosystem can sustain itself. Its primary goal is to expand a comprehensive identity and Web3.0 network as a public utility leveraging decentralized governance.
VREM Ecosystem Collaboration Platform
"VREM' hardware and software will both become open source, possessing a restrictive license to prevent misuse. Through this, the foundation will be able to collaborate with other organizations and platforms to build the VREM cooperative ecosystem platform."
Data
Shared governance of the VREM token is paramount. The foundation acts as a 'data controller' for any personal data after the launch of the VREM network. Decisions about this data will be managed by the community. As a non-profit organization, user data will never be sold.
Whitelisting Ecosystem Collaboration Platforms
In the initial network launch phase, the foundation management will have the authority to add cooperative platforms to the network, enabling a balanced regulation of decentralization, security, and growth. VREM operates in a quasi-decentralized manner, managed by various organizations worldwide. By establishing standards and incentives for developer organizations that develop, produce, and operate VREM, the foundation enables decentralization of the ecosystem.
VREM Protocol Research
The foundation is actively addressing open research questions to advance the VREM protocol. Through this, it is forming a support program to nurture the ecosystem: to encourage individuals and organizations that will contribute to the VREM ecosystem through research, development, production, or system auditing, the VREM Foundation will establish donation and support programs.
Decentralized Governance Process
Decentralized governance of the VREM protocol, as infrastructure for biometric authentication of user identity, is both essential and an unprecedented challenge in lowering barriers to Web3.0 usage and enhancing user-friendliness. Establishing a DAO-based governance system for VREM may be one of the most challenging tasks of the project, and this process is still in its early stages. The foundation must play an active yet constrained role in the governance of the protocol. To this end, the foundation's charter includes provisions for DAO-led governance. These provisions allow the DAO to propose recommendations to the foundation through a defined process. The foundation must do its utmost to 'observe, implement, enforce, act, and execute' all DAO recommendations, while adhering to fiduciary duties and legal requirements.
Token Economic Model
The VREM project aims to establish a global decentralized user authentication and Web3.0 network. Through this, it intends to enable all users to own their identity and allow every developer to connect with users. As a decentralized identity infrastructure for Web3.0, VREM is poised to play an increasingly central role in the evolution of Web3.0.