Viction ecosystem Q1/2024: Increasing pieces of the puzzle are showing up
Viction has made important developments after changing its name from TomoChain. This article will provide a general picture of the Viction ecosystem in Quarter 3/2023 and Quarter 1/2024.
Overview of Viction
On November 1, 2023, at The One event, TomoChain changed its name to Viction. The combination of "Victory" and "Vision" into Viction symbolizes the project team's efforts and aspirations to lead in the blockchain space.
After investment and brand repositioning, Viction plays an important role in the Ninety Eight ecosystem. Blockchain Viction allows for seamless integration of in-house products developed by the company, creating a synergy of benefits and mutual complementarity between products in the ecosystem.
From a technical perspective, Viction has a relatively similar approach to other EVM chains, the blockchain retains the foundational elements of Ethereum such as P2P Network design, transaction mechanisms, Ethereum Virtual Machine (EVM), core data structures.
What makes Viction different is the adjustments in the consensus rules & consensus algorithm, the network economic model associated with the VIC token (economic security).
These modifications are fine-tuned to cut transaction fees, increase Viction's throughput, and maintain seamless interoperability with the broader EVM ecosystem (EVM compatible). At the same time, this also reflects the project's vision and development orientation focusing on end users.
The VIC ZeroGas feature in Viction is a groundbreaking innovation designed to eliminate the need for users to pay gas fees directly in VIC. Instead, VIC ZeroGas allows dApp owners to cover transaction costs for their users.
The “VIC ZeroGas” feature ensures that users can interact with dApps without the hassle of managing or even holding VIC to pay transaction fees, significantly improving the user experience, helping to increase ease of use and accessibility of decentralized applications (dApps).
Viction's focus in Q4/2023 and Q1/2024 is on community development and ecosystem expansion and avoiding complex technical debt at the infrastructure layer. This strategic approach has yielded impressive results as evidenced by Viction's onchain statistics.
Outside of onchains, some other notable activities include:
- Viction Horizon: Hackathon is held at the end of 2023 with more than $300,000 in prizes distributed across various fields including social, gaming and DeFi. The hackathon had more than 300 registrations, with 78 submissions and 9 winning teams
- The first prize in the DeFi & Stablecoin category is Hakifi, it is a hedging protocol that offers delta neutral strategies to make profits. First prize in the Gaming category was Buzzkill, a strategy game themed on bees and honey. First place in the Social category was Givefund, a cryptocurrency fundraising platform that allows individuals and nonprofits to launch and support fundraising campaigns. You can search about the remaining projects here.
- Ambassador Program: Viction Vanguard program organization focused on finding talented and diverse individuals to collaborate and develop the Viction ecosystem.
- 10+ campaigns: Collaborated with various partners on initiatives to grow the Viction ecosystem, in total there were 10 campaigns held, over 128,000 participants and $60,000 in prize money distributed for users.
Overview of the Viction ecosystem
The period Q3/2023 - Q4/2024 can be considered the launch process of the Viction ecosystem, mainly focusing on laying a solid foundation through the integration of important infrastructure and other middleware, including industry pioneers in crosschain interoperability such as Hyperland and LayerZero, along with prominent Oracle services such as Pyth.
In addition to the infrastructure and middleware layers, the application layer also has notable developments.
Q1/2024, Viction has almost integrated all of Ninety Eight's in-house products including Baryon (DEX), One ID (Identity), CUSD (stablecoin), Daggora (NFT marketplace), Coin98 Wallet (Wallet) , Spacegate (bridge), Starship (LaunchPad).
