VeGO Ride Token
Contents
Application working mechanism 5
Abstract
VEGO SERVICES LTD incorporated under the Companies Act 2006 as a private company, that the company is limited by shares, and the situation of its registered office is in England and Wales.
Company Number 13422636 Given at Companies House, Cardiff, on 26th May 2021.
VEGO SERVICES LTD is registered as a technological service provider with the intention of providing services locally and internationally.
Introduction
VeGo ride is the new solution penetrating the transportation market, bringing extraordinary ideas into the segment where both customers and drivers shall gain ultimate freedom of bargain and choice.
We have created VeGo ride with the hope of improving the transportation market by giving more power to the community. Vego ride is an application which connects both customers and drivers together for the purpose of getting someone from point A to point B. What has been written might sound familiar as the service itself is available by other companies, so how is VeGo ride different? And what do we bring to the market?
To better understand the answer, we need to address the problem. Transportation service providers are gaining billions of dollars annually without any regard for their drivers nor their customers. To better understand the issue, we will divide it into two parts. One: transportation service providers are taking a high percentage from its drivers. Two: they charge customers higher prices compared to other available means of transportation.
Here at Vego ride we give our customers and drivers the freedom they deserve by embedding the element of bargain into our service, where customers have the power to propose trip prices through the application instead of being forced on a fixed price for each trip. Our drivers also have an equal amount of freedom where they can choose to accept the trip for the price set by the customer or by asking for a higher price.
Sounds great isn’t it? Well it doesn’t stop here. VeGo ride has lowest service fees across the world, which means more profit for drivers and less cost on the customer and that is our ultimate goal of customer and driver satisfaction.
VeGo Projects
We are committed to follow latest technological advancements and trends; therefore, we are pleased to announce that Vego services will start its own projects entering the new era of decentralization and metaverse.
Our approach is divided into two main projects:
1. VeGo token
VeGo ride will have its own decentralized token which will be generated on Binance smart chain using BEP-20 standards. We have decided to go with BEP-20 because it’s a much better alternative to Ethereum’s ERC-20 counterpart. Seamless swapping between BEP-20 and BEP-2, can be game changers for the entire ecosystem.
Vego tokens will have many useful functions. We have set up a plan to ensure that VeGo token value will continue to rise with time. Vego token will be integrated into our VeGo ride application allowing customers to pay by Vego token for their trips and collect rewards simply by our application.
What makes our tokens valuable is the fact that anyone who uses our services will be rewarded for doing so, simply put it’s a Ride To Earn application. With us everyone’s a winner, whether you are a customer who is getting rewarded for using our application or you are an investor who made a profit by purchasing our token or even a driver who will be receiving tokens in exchange for a good performance.
Details about our rewarding system are listed under the Tokenomics section below.
2. VeGo NFT`s
Another part of our project is to release our own collection of NFT`s, and what is better to represent our VeGo ride application than our own hot collection of cars. The collection will be divided into multiple tiers; each tier will give different privileges starting from getting free rides (with ability of gifting them), to the ultimate privilege of getting free VeGo tokens simply by being the owner of one or more of our NFT`s.
We will be releasing 3000 NFT`s in the second phase of our project, we will include our ambitious road map for our NFT`s on our website soon. More financial details are listed under the Tokenomics section below.
Phases of the business plan
Our plan is divided into four main Phases throughout a specific timeline. Those phases are shown in the table below:
Phases
Description
Timeline
Phase One
- Token release and IDO
- Release on multiple platforms
February 2022
Phase Two
- Release VeGo NFT`s to the market
- Partial integration between VeGo token and VeGo ride application. (Ride to Earn)
2Q / 2022
Phase Three
- Full integration between VeGo token and VeGo ride application.
- Full integration with between VeGo ride application and VeGo NFT`s
3Q / 2022
Phase Four
- Seek partnerships with other transportation application for token integration
4Q / 2022
Partnerships
Our team is working on partnerships with other transportation applications such as Uber and Careem in order to integrate our token into their applications. This means VeGo token will be accepted as a payment for transportation services. This is a huge part of our futuristic vision to make VeGo token the first Ride to Earn internationally recognized token. We are expecting to conclude our negotiations with multiple applications anytime between 4Q of 2022 and 2Q of 2023, and for those applications to be fully integrated with our application by the end of year 2023.
Application Details
VeGo ride application is currently active in multiple countries with more than 124,550 successful trips and more than 6000 drivers and 19000 registered customers.
Application working mechanism
Tokenomincs
VeGo tokens
VeGo tokens does have a strong plan for token distribution for the reason of price stability. The plan revolves around encouraging early investors to hold onto their share of tokens without selling them for a specific time. Early investors will be rewarded for each transaction that happens within the pool. The other part is profit generating NFT`s, as an owner of VeGo NFT`s you will be rewarded with tokens simply for having the NFT.
VeGo tokens will have a total supply of 45,000,000,000 tokens.
Token distribution will go as follows:
Category
Total amount of tokens
Percentage
Marketing and Operational
4,500,000,000
10%
Owners and Advisory board
4,500,000,000
10%
Ride to Earn
9,000,000,000
20%
Early investors
4,500,000,000
10%
NFT rewards
4,500,000,000
10%
Initial market supply
11,250,000,000
25%
Tokens burn
6,750,000,000
15%
VeGo NFT`s
VeGo will be releasing its own collection of NFT`s, those NFT`s will be divided into five main categories each category will give access to rewards based on category level. The higher the level the more rewarding NFT will be.
Total number of NFT`s will be 3000 divided as follows
NFT category
Percentage of NFT`s released
NFT`s price
Rewards
Common
50%
50$
.1 token daily
Uncommon
25%
100$
.9 token daily
Rare
13%
500$
1.5 token daily
Legendary
8%
1000$
2 token daily
Mythical
4%
5000$
5 token daily
Rewarding system
VeGo will have token rewarding system for early investors who hold onto their VeGo tokens, the rewarding system will have more than part:
First part: Pre sale rewards which will include selling Vego tokens for less price and higher reward percentage.
Second part: Investors who will buy VeGo token after the release. Those investors will buy Vego token with original market price but they will be entitled for a standard reward percentage.
