Frequently Asked Questions

Explore the common questions and answers

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What is Cryptocurrency?

Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central authority. It leverages blockchain technology to ensure transparency, immutability, and decentralization.

Cryptocurrencies are typically used for secure online transactions and investments. VOTON integrates cryptocurrency into charitable giving, allowing users to donate using VOTON tokens. This approach reduces transaction fees, increases speed, and adds transparency and accountability to philanthropy.

By using VOTON tokens, donors ensure their contributions directly reach the intended causes, without the high fees associated with traditional financial systems, maximizing the impact of their generosity.

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What is a smart contract?

A smart contract is a self-executing agreement, where the terms between buyer and seller are written directly into code. It operates on a blockchain, ensuring transparency and security.

  • Smart contracts automatically execute actions when predefined conditions are met.
  • In VOTON, smart contracts enhance transparency in digital philanthropy.
  • Funds are allocated properly and tracked securely.

This guarantees that donors and charities can trace every step of the donation process, building trust and efficiency in charitable giving.

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What is a DAO?

A DAO (Decentralized Autonomous Organization) is an organization managed by its members through rules encoded as smart contracts. DAOs operate without central authority and are transparent and decentralized.

VOTON’s DAO governs platform decisions, ensuring the community participates in shaping the platform's direction. This includes protocol changes and strategic decisions, fostering democratic and transparent decision-making.

The DAO empowers the VOTON community to actively participate in governance, ensuring the platform remains aligned with users' needs and values.

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How does the blockchain work?

Blockchain is a decentralized digital ledger that records transactions securely and transparently across multiple computers.

Here's how it works:

  1. A transaction is made.
  2. It is transmitted to a network of computers (nodes).
  3. The nodes verify the transaction using algorithms.
  4. Verified transactions are grouped into a new block.
  5. The block is added to the blockchain and becomes unalterable.

VOTON uses blockchain to ensure transparency in donations, enabling donors to track contributions securely. This guarantees funds reach their intended destinations without high fees or mismanagement.

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What is burning and how does it work?

Burning refers to permanently removing tokens from circulation, reducing the total supply. This is done by sending tokens to an inaccessible "burn address."

VOTON applies a 2% burn on donations made with VOTON tokens. This mechanism reduces supply, potentially increasing the token's value over time.

Token burning helps regulate supply, supporting the sustainability of VOTON’s tokenomics.

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What is liquidity?

Liquidity refers to how easily an asset can be bought or sold without affecting its price.

In cryptocurrency, liquidity is often facilitated through exchanges and liquidity pools, where users contribute assets to support trading.

High liquidity allows users to trade or donate with ease, ensuring smoother transactions and more stable prices for VOTON tokens.

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How do web3 wallets work?

Web3 wallets store cryptocurrency and private keys, allowing users to interact with decentralized applications (dApps) securely.

Key features include:

  • Secure storage of private keys.
  • Direct interaction with dApps.
  • Management of transactions and digital assets.

Most Web3 wallets are non-custodial, meaning users control their private keys and assets.

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How can I buy Crypto?

To buy cryptocurrency:

  1. Choose a reputable exchange.
  2. Set up and verify your account.
  3. Deposit funds.
  4. Buy cryptocurrency.
  5. Transfer to a Web3 wallet for security and interaction with dApps like VOTON.

This allows users to engage with blockchain platforms while securely holding their assets.

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How will CryptoGiving disrupt the crowdfunding industry?

CryptoGiving revolutionizes crowdfunding by:

  • Enabling global reach for charities.
  • Providing direct, fee-free donations.
  • Offering transparency through blockchain.
  • Incentivizing donors with rewards like raffles.

VOTON’s decentralized platform enhances accountability, efficiency, and community engagement in the philanthropic space.

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How do the DAO and CryptoGiving work together?

VOTON's DAO oversees the CryptoGiving platform:

  • KYC verifies the identity of fundraisers.
  • DAO approval ensures campaigns align with VOTON’s values.
  • The DAO monitors campaigns, ensuring transparency and proper use of funds.

This system ensures trust, transparency, and accountability in digital philanthropy.

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Why the name VOTON?

"VOTON" signifies "vote-on," emphasizing the platform's democratic structure. Token holders can vote on key decisions through the DAO, shaping the platform's future.

This reflects VOTON's commitment to transparency, community participation, and democratizing philanthropy.

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How can I connect with VOTON on social media?

You can connect with us on:

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What’s your marketing strategy?

VOTON’s marketing strategy includes:

  • Social media engagement.
  • Advertisements and SEO campaigns.
  • Community interaction through blogs, educational videos, and partnerships.

The strategy aims to build awareness and trust in the VOTON platform, fostering a global community of donors and charities.

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How do I know your token will go up in value?

VOTON's token value may increase through:

  • Effective tokenomics, including token burning.
  • Growing demand as the platform expands.
  • Strategic partnerships and adoption.

Market sentiment and trends in the cryptocurrency space also influence token value.

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Can I use my donations as a tax write-off?

Donations made through VOTON may be tax-deductible, depending on your country's tax laws.

It’s recommended to:

  • Confirm the charity's eligibility.
  • Keep detailed records of donations.
  • Consult a tax professional for guidance.
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When will you launch?

VOTON plans to presale its token soon, with the Initial Coin Offering (ICO) following approximately 3 months after.

This timeline aims to optimize market conditions for a successful launch.

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How do you know charities will want to sign up?

Charities are likely to join VOTON due to:

  • Easy, cost-free onboarding.
  • Direct, fee-free donations.
  • Transparency and global reach.
  • Incentives for participation through the charity pool and monthly draws.
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How will you prevent scammers on your platform?

VOTON prevents scammers through:

  • Strict KYC procedures.
  • DAO-based approval for charities.
  • Transparent, traceable transactions.
  • Continuous monitoring by the community and re-approval for charities exceeding donation thresholds.

This multi-layered approach ensures the platform remains secure and trustworthy.

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