Building a ‘Blue Collar Blockchain’: Insights from Voi Network’s Co-Founder
Following the successful launch of Voi Network’s staking program, which offers 140 million $VOI tokens valued at $2.1 million, we sat down with Christopher Swenor, Co-Founder of Voi Network.
With the recent listing of $VOI on MEXC exchange and the introduction of their innovative “earned distribution” model, Voi is making waves in the crypto space. In this exclusive interview, Swenor shares insights on Voi’s unique approach to blockchain, community ownership, and long-term sustainability.
Q1: Are most blockchains on borrowed time? How is Voi preparing for the crypto shake-up of the decade?
“Yes. The true value of a blockchain is the ecosystem that is built on top of a blockchain. If the blockchain’s ecosystem isn’t the majority owner of a blockchain it becomes cheaper to relaunch the blockchain than to pay off the “bad equity” of the early investors and stakeholders if they are no longer adding value to a chain. This means that ecosystems are incentivized to organise and restart the chain rather than trying to stay on the existing chain. If this happens the original chain will no longer have any value and all the value will go with the ecosystem.
Voi is getting out in front of it. Rather than building a cult around the technology of a chain we decided to create an ecosystem of blockchains. Adopt the best free and open source tech all under the same economic system and make sure that the owners of the chain are the people that are actively adding value.”
Q2: “Blue collar blockchain” – that’s got a nice ring to it. What sparked this idea, and how does Voi walk the talk?
“I grew up in a blue collar family. People that go to work and put their blood sweat and tears into what they do, and it’s what I saw with Voi. The people that were involved are involved because of the mission, and they actively put their time and effort into the betterment of the ecosystem, and after they would get together on spaces and have a good time.”
Q3: Voi aims to be a whole ecosystem of blockchains. How does this multi-chain strategy give you an edge in the crypto space?
“One tech won’t rule them all. Some chains will focus on TPS, some will focus on security, some will focus on privacy. It is impossible for a single chain to be good at all of them. By being a single ecosystem of blockchains it allows the developers to pick the technology that best fits their needs. They won’t have to bend their projects to the tech of the chain that will give them the most monetary incentive.”
Q4: “Earned distribution” sounds intriguing. Can you paint us a picture of how this works?
“It’s pretty simple. It is setting a baseline of the value of your token based on the effort put into to earn those tokens. The majority of other tokens sell their tokens to early investors as the primary way of distribution.
By making it so that the majority of tokens are distributed through earning them you not only set a better baseline but you also make sure that the majority of the owners of the chain are people that earned them.”
Q5: Your governance system is inspired by the U.S. government. Should we expect heated debates and dramatic voting sessions on the Voi chain?
“When people are involved you will always have drama. So I don’t think it goes away just because you add blockchain to the mix. But I do think that through the dynamic stake distribution to delegates will allow for the people that are truly passionate about a topic to have a more direct hand in the way they want to see the chain go without having to do much politicking.“
Q6: The staking program offers some impressive bonuses. It’s almost too good to be true – what’s the catch, and how does this fit into Voi’s long-term vision?
“We wanted to make sure that the everyday person that truly believes in Voi can be rewarded if they lock in. This will incentivize them to actually care and stick around to help Voi grow. Because at the end of the day it is important to earn your tokens by putting in the effort.”
Q7: Voi is tackling the age-old blockchain problem of misaligned incentives. How are you bridging the gap between the early birds and the active users?
“We are making sure there is a long tail on the distribution. If we gave away all the tokens just to early adopters it wouldn’t be much better than giving all of the tokens to the early investors.”
Q8: A 20-year vesting schedule is practically unheard of in crypto. What inspired this marathon approach, and how do you plan to keep the momentum going?
We aren’t building a flash in the pan thing that will be gone next year. We want to build something that will be here forever through the ups and downs and is a platform that can last the test of time. You need to plan long term for something like that.
Q9: Voi can adapt to new blockchain tech as it emerges. How do you balance innovation with stability to ensure users aren’t left in the dust?
“You use the other chains as your testnet. You make sure that their changes are solid before you adopt them. Then you innovate on top of the protocols. You make the UX of using the blockchain perfect. That is really what the users care about anyway.”
Q10: Over half of your token holders are in it for the long haul with maximum lock-up periods. What’s Voi’s secret sauce for inspiring such loyalty?
“It’s pretty easy to have loyalty when they are all founders. Voi was created by the community, it wasn’t created for the community. This means that the people that locked up their tokens because they are betting on themselves.”
Final Word
As our conversation with Christopher Swenor concludes, it becomes clear that Voi Network is setting a new standard in the L1 blockchain space. With its innovative approach to token distribution, focus on long-term sustainability, and commitment to true decentralization, Voi is charting a unique course in the crypto space.
By allocating 75% of its token supply to the community over a 20-year period and implementing an “earned distribution” model, Voi is aligning incentives and culminating in a dedicated ecosystem. As the project continues to evolve and attract developers and users alike, Voi Network is poised to make a lasting impact on the future of decentralized technologies.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
