VIP$ Coin FAQs
VIP$ Coin was created by Veteran International Petroleum Services LLC using the TRON blockchain platform as a way to protect the integrity of mineral-rich land – preventing its resources from being extracted, yet creating value that can be used to benefit the asset and Community Land Owners as well as the humanitarian projects that VIP$ is supporting.
VIP$ Coin is a digital currency, otherwise known as a cryptocurrency. Created as a token on the TRON blockchain platform and backed by assets to the value of $3.6 trillion (US dollars), it is a new breed of decentralised currency that in many cases can be used as an alternative to conventional currencies, including for new and novel Defi (decentralised finance) applications. It can be used in P2P (peer to peer) transactions and has a trading value just as a conventional FIAT currency does.
No. A stable coin’s value is generally pegged to a conventional (FIAT) currency such as the US dollar or the price of an assets such as gold. Although that gives investors and holders of a stable coin confidence that its value is unlikely to fluctuate in the way that cryptocurrencies such as Bitcoin do, there is also little potential for the value of their holding to rise.
VIP$ Coin is not pegged to any other currency and offers the best of both worlds. It has inherently stable value, derived from the $3.6 trillion of tangible assets that back it. In addition, the VIP$ Coin team aims to grow the underlying value of their cryptocurrency by steadily adding new assets to the existing $3.6 trillion and by adding utility to the token, so enhancing VIP$ Coin’s potential as a growth investment.
[20%] of the proceeds from the founders’ sale VIP$ Coin will be donated to humanitarian causes, via the [UN] IHRC who are funding humanitarian initiatives in some of the world’s poorest communities.
The donations from the initial sales of VIP$ Coin Tokens will be given to the [UN] IHRC, which operates completely independently as an NGO. The proceeds will be distributed between three key areas of the [UN] IHRC’s NGO network: Education, Qualification and Employment. The purpose being to improve the future welfare of citizens around the world by providing them with the tools to learn, find jobs and, in turn, enhance lives – not just for themselves but also the wider communities in which they live and work.
VIP$ Coin’s pre-trading value is determined by tangible assets valued at 3.6 trillion US dollars. These assets are valued by the US Government and ensure VIP$ Coin is tradeable based on real-world prices rather than speculative perceived value. Its value will also increase as greater utility – such as retail payments – is added to VIP$ Coin.
Once available to trade, the price of VIP$ Coin will be determined by investor demand and market forces, similar to the way that Bitcoin’s price is determined, although VIP$ Coin’s trading price is supported by its underlying asset value, something from which Bitcoin’s trading price does not benefit.
The assets are spread across 900,000 acres of land and comprise subterranean oil, gas, coal and other mineral reserves including Coalbed Methane, Bentonite, Limestone, Dolomite, Gypsum, Zeolites, Pumicite, Building Stone, Uranium, Helium and Nitrogen. The quality and volume of these assets have been verified by the US Geological Survey and have been independently valued at circa $3.6 trillion.
Rather than extract these assets, the rights to them have been contracted through blockchain to [300 million] VIP$ Coin, giving each coin a tangible indicative of value of $12,000. The validity and legal standing of these commercially sensitive Lease Agreements have been audited and certified by independent accountants and lawyers.
In addition, VIPS LLP is negotiating with a number of international owners of valuable assets, with the aim of adding their assets to the underlying reserves behind VIP$ Coin.
The assets used to back VIP$ Coin are subterranean resources under land administered by the Crow Nation in the State of Montana USA. Negotiations are currently underway with individuals and nation-states to add to these asset reserves globally.
Unlike other cryptocurrencies renowned for their massive energy needs, VIP$ Coin is designed to be environmentally friendly with as little impact on the natural world as possible. To ensure this is possible, all available VIP$ Coin are pre-mined and will be released to the market in a structured, time-controlled manner maintaining value whilst reducing the environmental footprint.
As well as reducing energy consumption, VIP$ Coin also provides landowners with property rich in natural resources an alternative source of income ensuring the minerals within the ground remain unmined, retaining the natural integrity of these environments.
VIP$ Coin is currently only available through the VIP$ Coin private exchange. These can be purchased and distributed to a wallet of choice and store for retained future value. In addition, holder of VIP$ Coin can make Peer-to-Peer (P2P) transfers when both parties hold Tron wallets until such time that VIP$ Coin is traded on the Exchanges.
In the coming months, VIP$ Coin is working to secure placement on notable exchanges allowing them to be traded and exchanged at liberty.
VIP$ Coin is valued based on physical assets worth $3.6 trillion. This ensures that as the value of assets increase or more assets are added to the network, the cost of the coin should also increase.
With VIP$ Coin’s value underpinned by tangible assets its value is likely to remain more stable than unbacked cryptocurrencies which can fall victim to substantial fluctuations in market price.
VIP$ Coin has been created as a digital token on the TRON blockchain platform. The TRON operating model has a much higher Transfer Processing Speed (TPS) so that transactions can be completed in fractions of a second and the costs of transacting are minimal in comparison to currencies created on the Bitcoin or Ethereum platforms.
This means VIP$ Coin is optimised for far more use cases such as retail transactions, DeFi (Decentralized Finance) propositions and to virtually eliminate the underlying costs of Forex transactions.
Currently, a Tron wallet is required to buy and initially store VIP$ Coin. They can then be transferred to other wallets that support Tron/TRC 20 protocols. We recommend that owners hold their crypto assets on a physical ‘cold wallet’, or on a widely recognised and reputable digital wallet.
When setting up VIP$ Coin a fixed and capped amount of 3 billion VIP$ Coin Tokens were created. A maximum of 300m VIP$ Coin will be released within the foreseeable future, on a phased basis in order to help maintain market liquidity. The remainder of the VIP$ Coin are being held in storage for the time being and will not be released to the market at present.
This price was indicated to us during our discussions with the Exchanges and is based on the 300m VIP$ Coin and $3.6 trillion assets. As we won’t be immediately releasing 300m VIP$ Coin, and we intend to add to the reserves, this figure is potentially quite conservative.