Vodra Token will officially be migrating to the Solana Network. After spending three years on the Ethereum network $VDR will receive a much-needed upgrade. The decision was made for the superior speed, functionality, and ecosystem that the Solana Network provides.
Why The Switch?
In 2021, we launched VDR on the Ethereum Network as an ERC-20 token due to its popularity and decentralization. However, Ethereum’s issues with scalability, congestion, and high gas fees were never properly addressed, making it less practical over time. Solana, designed for speed and efficiency, offers faster transactions and lower costs. Moving Vodra Token to Solana means a better and more reliable experience for everyone.
There’s so much we wanted to achieve with Vodra that simply wasn’t possible with Ethereum’s high gas fees. Basic platform functions like creator sign-up rewards, donations, and subscriptions were challenging to implement, as our users were understandably reluctant to pay high fees. We also attempted to implement basic community features such as airdrops and staking pools, but these often excluded smaller holders which didn’t feel fair or inclusive.
Beyond fees, there’s also the issue of Ethereum’s transaction times, which can be especially frustrating during live streams. The average time to finalize an Ethereum transaction is around 90 seconds. Since live broadcasts already have inherent delays, adding an extra minute or two is disruptive. In contrast, Solana transactions take just under 1 second, making it an easy choice.
Switching to Solana allows us to retain the decentralization of the third-largest cryptocurrency network, after Ethereum and Bitcoin, while enjoying far faster and cheaper transactions. Micro-tipping, a core part of creator compensation, can finally be implemented without sacrificing funds to gas fees.
We’re also excited to integrate the token more deeply with the platform. Our goal has always been to make VDR a reward token, distributed for all user actions. Whether it’s signing up, tipping, subscribing, or accepting new campaigns, we want to incentivize and reward our community.
The Solana Ecosystem
Solana’s extensive ecosystem unlocks a world of possibilities for Vodra. It allows $VDR to connect seamlessly with other platforms, opens new doors for potential partnerships, and lets us work on several community-driven innovations that weren’t previously possible.
Greater Decentralization
With the existing token on Ethereum, our holders were forced to rely on centralized exchanges which added a lot of extra requirements to access. In some cases, the exchanges would restrict users from many countries from participating at all. Even though we had a Uniswap listing it was expensive to use and we noticed it was being under-utilized.
Solana has an amazing collection of decentralized exchanges such as Raydium and Meteora, and aggregators like Jupiter. This makes trading and swapping any token on Solana a breeze (seriously, try it for yourself).
We believe it’s not just enough to have a decentralized platform if users are forced onto a centralized exchange to obtain, trade, or send their tokens. Now we can finally offer the truly decentralized experience we have always imagined.
Partnerships
It’s no secret that all of the top companies and projects are flocking to the Solana network. A notable example is PayPal’s USD stablecoin launching on the Solana Blockchain. This is an extremely promising sign of adoption and evidence of Solana’s commitment to real-world use cases; much like we’re working on addressing at Vodra.
Since making our decision to switch to Solana, we have begun talking with a large number of potential partners. These will open Vodra’s ad network to a wide variety of projects that demand advertising. We’ve heard from numerous projects that have struggled to advertise with Google AdSense or Amazon ads due to their sweeping crypto bans.
Community
The Solana community is incredibly active and supportive. From their leadership in DAOs to a heavy emphasis on community rewards; the Solana ecosystem has always made an effort to prioritize their community. That falls very much in line with our vision for Vodra and the token's utility. Low fees and great tools give us the ability to offer a lot more to our community than ever before.
What Happens Next?
A new version of Vodra Token ($VDR) is being created on the Solana Blockchain as an SPL token. The existing ERC-20 tokens will need to be bridged over to Solana through a cross-chain bridge. Existing holders of the ERC-20 token will be able to deposit their tokens to the bridge and receive back a corresponding amount of VDR SPL tokens.
SPL ca: 5a6LTLwdMJBY2JDLjw8B1w4JwFRdZszGF9W56ZzrriS1
Solscan Link: https://solscan.io/token/5a6LTLwdMJBY2JDLjw8B1w4JwFRdZszGF9W56ZzrriS1
Swap Ratio: 1:1
Snapshot Time: 11pm EST, January 14th, 2025 (14/1/2025)
Swap Process: Ethereum wallet holders included in the snapshot can use our bridge to transfer Solana $VDR to their specified SOL address. The bridge location can be found here after January 17th: https://claim.vodra.io
TOKENS HELD IN STAKING POOLS, VESTING CONTRACTS, OR ANY OTHER WALLET THAT ISN’T IN THEIR OWN CONTROL WILL BE INELIGIBLE.
More information about the new token can be found in our updated tokenomics here.
Holders will have 3 months to bridge their ERC20 tokens to SPL — The bridge will close after April 17th, 2025.
Wallets: We recommend using a multichain wallet (ones that support multiple blockchains) such as Phantom, Trust Wallet, or Ledger Live. Check to make sure that your wallet of choice can support Solana SPL tokens.
Listings: We are working to ensure that existing trading pairs, such as VDR/USDT, remain accessible after migration. We also have a new listing already planned; more information on this will follow soon.
Platform Functionality: We will move all platform features to Solana including staking/rewards. This means that while the current ERC-20 tokens can still be sent/received, they may not benefit from new platform updates or any of our potential reward initiatives.
Moving Forward
This migration to Solana marks a new era for Vodra, one that allows us to fully realize our vision for a dynamic, user-friendly platform that benefits creators and fans alike. By leveraging Solana’s scalability and low transaction fees, we can introduce more accessible features and user incentives, such as instant micro-tipping, reward programs, and interactive campaigns, without the limitations imposed by Ethereum’s gas fees.
Beyond just a technical upgrade, the move to Solana enables us to be more agile in adapting to the needs of our community and expanding Vodra’s ecosystem. We’ll be positioned to partner with other projects within the Solana network, exploring new integrations, collaborations, and opportunities for our users. Looking ahead, we’re excited to build out Vodra as a platform that continually evolves with the changing landscape of blockchain technology, putting the needs of creators and communities at the forefront.
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