vARRR Overview

Welcome to the mainnet launch of vARRR, a groundbreaking initiative aimed at fostering seamless interoperability between decentralized exchanges (DEXs) and facilitating the fluid movement of assets across different ecosystems. This subpage provides comprehensive details about vARRR, its features, and how to participate in the network.

vARRR is a unique new coin with its own independent blockchain. Its built on the Verus platform for the Pirate Chain community, and fully backed by ARRR. It is swappable 1:1 with ARRR via Komodo Wallet's Atomic Swap based exchange, which means it is easy to move funds between the Pirate Chain network and vARRR whenever you decide.

Our friends at Verus have developed Public Blockchains as a Service (PBaaS). Coins provisioned through this service are not tokens running on a single increasingly congested network, but rather it is its own layer 1 blockchain that inherits all the features of the Verus platform.

Among the features vARRR inherits are smart transactions. These are like smart contracts on Ethereum, but without some of the associated drawbacks. All PBaaS-chains, including vARRR, are interoperable and interconnected. This opens the door to more possibilities as to how ARRR and the Pirate Chain Network can interact with the world.

One of those doors vARRR opens is being connected to Ethereum in a trustless and non-custodial way, via the Verus-Ethereum Bridge; a provable, decentralized, cross-chain communication protocol. Like other bridges this allows for value to easily be moved between vARRR and Ethereum, but unlike other bridges it doesn't require users to trust a third party with their funds, and no single entity has control over the assets being transferred. This is a major advancement over typical bridge services.

Additionally, vARRR provides Pirates an opportunity to earn a active income by CPU mining, or earn a passive income staking. The vARRR network is a hybrid consensus mechanism that is 50% PoW (utilizing a ASIC/FPGA resistant algorithm) and 50% PoS.

PBaaS Chain: vARRR

• Total Supply: 10,000,000
  • Circulating supply: 9,400,000
  • Bridge Converter Issuance: 500,000
  • Reserved for Mining Rewards: 100,000

Block Reward:

• Mining: PoW/PoS 50/50
• Mining Reward Era: 3
• 0.08 vARRR until block 1125000
• 0.002 vARRR until block 6125001
• 0 thereafter

Liquidity Basket:

• Primary: vARRR-VRSC-tBTC-Bridge.vETH
• Bridge: Launch period of 12 days for preconversion, followed by the bridge going live on Verus block 2,986,660

Verus ID tech for vARRR:

• ID Registration Fee: 100 vARRR (20% discount with referral)
• ID Referral Levels: 3
• ID Staking: Yes, only *.vARRR@ IDs with funds can stake

• 10 Million ARRR will be locked in a zs address, with the viewing key published for verification purposes. Each vARRR will be backed by 1 ARRR.*
• AtomicDEX (Komodo Wallet) will be used to convert ARRR <> vARRR at a 1:1 ratio, with mm2 orders set up in both directions.
• Staking will work only when funds are stored in an ID, offering enhanced security compared to R addresses.
• .vARRR@ IDs can be used to create NFTs and can be traded on the onchain marketplace.

* How to verify: Viewing key is below. You can run the following command in you Treasure Chest wallet Debug Console to verify the funds are there.

z_importviewingkey zxviews1qvmhdzarqyqqpqrgheu7zc4ceh6lefcnczymwqu8mr05ngajmvyxxqsmjx72e8t53jnlkcjwtvs6f5agjxpt7h955d8ps4pfzsvuju2a49gafmz3fvgnkf03h5eaqqc7wqfxv6fwm5ft59gxffvxs7q5mtd9y03uuskq607qpc0jn8wfvxe4vdqcwjaypqy5gkgxrkh7zh5t5ndqqtqne9w2s4rd8fx7vz6rg9mtfn5908jh09s382gast0dh8nmwvgwsn4plmww4gqkeyp2k yes 2648978

vARRR marks a significant milestone in advancing the Pirate & Verus ecosystems as the first ever PBaaS chain launch!

The vARRR PBaaS-chain launches at the Verus block height 2,986,660
(estimated between March 31st and April 1st, 2024).

Effective now, vARRR is in a pre-conversion period, with funds locked until the launch. Participants in the pre-conversion will receive a 5% protocol discount. After the launch the initial 80,0000 Bridge.vARRR tokens will be distributed equally by the protocol to all users that preconverted.

For more information, and instructions to preconvert: How to preconvert into bridge.vARRR

vARRR Stats: varrr.piratechain.com
Verus Wallet: verus.io/wallet
Guide: How to Participate
Lock-up Period: During the pre-conversion, participants' funds will be locked for 12 days.