Vid Foundation Starts Staking

There will be other additions to the network.

Creator of the Vid social media app, Vid Foundation, has said that apart from the usual rewards users get, an improvement on its VI token staking has come to stay.

The CEO, Jag Singh, said the new staking rules can also be benefited by new comers who have gotten some coins.

The CEO said 14 million Vi tokens are to be staked from September 1 to December. He told stakers already on the system not to feel disadvantaged because they are also eligible for it. He said nothing has changed with the APR.

Apart from updating the staking requirements, Vid Foundation will be correcting some of its lapses on the VID app. It is also a time for it to take the app to the market, make its token the currency of the app, introduce a verification system for account owners and bring out a whitepaper. Vid Foundation also wants to tighten its security measures by introducing authentication requirements that must be passed before a withdrawal request is granted.

Singh was optimistic about having one million users for the app by December.

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