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Our community believes that there is no better, scalable, solution to the centralized control of currency issuance than the economic model enabled by $VOW.
$VOW enables the expansion of an ecosystem that is often referred to by the Vow community as The Vow Ecosystem.
The Vow Ecosystem is an independent, holistic, decentralized, closed loop, alternative financial system, which is arising within the current system, as its antithesis.
It comprises on the one hand, a central (deflationary) token; $VOW; which serves as a decentralized reserve currency for the entire ecosystem. And on the other hand, multiple “discount voucher currencies” (eg vINR, v$, v£, v€) orbiting $VOW.
The Vow ecosystem is a brand new, multi-tentacled creature, which is spreading around the world.
Its head is not a global, unelected, and hidden elite, but instead a very public group of token holders who buy and hold $VOW. The community refers to such token holders as $VOW Maximalists.
$VOW Maximalists buy and hold $VOW, not for purely speculative purposes; but because of its unique real-world utility of providing businesses with a competitive advantage and a better way of driving sales.
Any business can opt to deposit $VOW into a smart contract and receive ecosystem discount vouchers in return.
They then begin distributing these transferable ecosystem digital discount vouchers to their customers. They do this for the most basic commercial reason of attracting customers to their business in a cheaper and more sustainable manner. Every time one of these discount vouchers is issued, or subsequently moves from business to business or person to person, the $VOW supply is reduced and demand on $VOW itself is increased.
The unique manner with which these transferable discount vouchers interact with real world commerce is unparalleled. Digital discount vouchers are, of course, immunised from crypto, stablecoin and emoney legislation, neatly side-stepping ever increasing regulation for the same. They provide a reduction in price for consumers, acting as a deflationary force at the retail level. In addition, because they also afford price stability in relation to fiat, they can rapidly eat their way into the supply chains of every business around the world.
The ecosystem’s ultimate and lofty goal is to decentralise the issuance of (fixed value) currency internationally in a manner which complements banks, governments, businesses, and consumers, and make this happen at unprecedented speed and scale. The method in which this is to be done is commercial, infinitely practical, and shouldn’t result in unnecessary challenges from regulators.