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We need it to be perfectly understood that the Veritaseum token rental facility is a vehicle for conducting peer-to-peer, over-the-counter token transactions. It is not an exchange, nor an offer to buy nor sell securities. Now that we have gotten that out of the way, we would like to prepare to introduce the rental app ahead of both the more institutional VeADIR and research offerings (reference Veritaseum Autonomous Distributed Interactive Research (VeADIR)).

Active rent offers

 

The following is is a simplified tutorial for using the the Veritaseum token rental facility. It is functional, yet still a very early beta with the usual bugs and usability issues that go along with such a build. The demo will work on mainnet, but offer expiration won't work and it's possible that “Exposure profit calculations” may have some errors. We will solve these issues tomorrow. This build is untested, hence I am looking for large holders of VERI to beta it in and attempt to help us ferret out bugs and usability issues that escape our internal QA processes. With that being said, DO NOT use any materially large amounts of VERI no ETH in testing this app.

If you hold over 1,000 VERI tokens and are interested in helping us perform very early beta tests of the app, please email Reggie Middleton and you will be asked to send a very small amount of VERI (ie..001) from your wallet that holds the >=1,000 tokens in order to verify your holdings. The reason why we are limiting the beta is that we want the feedback on the user experience from the larger VERI holders to ascertain if we are moving in the proper direction.

If you are interested, This email address is being protected from spambots. You need JavaScript enabled to view it..

  • General setup

  1. Open your Google Chrome browser and setup MetaMask.

You can find tutorial here (https://www.cryptocompare.com/wallets/guides/how-to-use-metamask/)

  1. Once you have your account ready navigate to VeRent app and verify your active account in the right panel.


  1. VeRent consists of two areas, one for token renters “Get Veri Tokens” and one for token owners “Offer Veri Tokens”

  • How to offer VERI Tokens

  1. If you would like to offer rental of your VERI tokens navigate to “Offer VERI Tokens” tab and  fill the form in the right panel which requires you to provide Amount, Price, Duration and Expiration. Expiration is not mandatory, by default your offer never expires but you can cancel it before it is accepted. On the top of the form you can also find the current ratio of VERI to ETH. After you fill the form, press Order to create new Offer.

 

  1. MetaMask plugin will ask you to confirm your transactions in a popup window. There are two transaction to confirm, token transfer approval and offer creation. Until transactions are complete and added to the blockchain , you will see a pending transaction in My offers table. Processing on Blockchain takes considerable amount of time, so please arm yourself with patience, usually your transaction should be completed within around 20 seconds.


  1. When processing is complete you will see your offer in “My offers” table.


  1. On the right side of the row you can see available actions. To see the transaction in blockchain explorer click “open in new” icon. To cancel the offer click “trash” icon.


  1. Once your offer is accepted it will be moved from “My offers” table to “Opened exposures”. At this point ether and VERI tokens are transferred to the contract. You can track the status of exposure in columns “Time Left” and “Projected ROI” calculated based on the average ROI.


  1. After the exposure time has elapsed, the status changes to “closing”. It may take some time until the exposure is finalized and the funds locked in it available.

  1. Once exposure is closed, it is moved to “Closed exposures” and updated with the actual ROI. You can withdraw your funds. In order to do that, click “coin” icon in the right side of the table row.


  1. Alternatively to creating new offer, you can accept existing ones, You can find them in  “Get Veri Tokens” tab “Offers” table. To accept an offer click “shopping cart” icon.

 

  • How to get VERI Tokens

  1. If you would like to rent VERI tokens, fill the form in the right panel with Amount, Price, Duration and Expiration. Expiration is not mandatory, by default your offer never expires and you can cancel it before it is accepted. On the top of the form you can also find the current ratio of VERI to ETH. After you fill the form, press Order to create new Offer.


  1. MetaMask plugin will ask you to confirm your transaction in a popup window. Until  the transaction is completed and added to blockchain, you will see a pending transaction in My offers table. Processing on Blockchain takes considerable amount of time, so please arm yourself with patience, usually your transaction should be completed within 20 seconds.


  1. When processing is completed you will see your offer in “My offers” table, and given that its not expired yet you can also see it in “Offers” within “Offer Veri Tokens” tab.


  1. On the right side of the row you can see available actions. To see the transaction in blockchain explorer, click “open in new” icon. To cancel the offer click “trash” icon.


  1. Once your offer is accepted it will be moved from “My offers” table to “Opened exposures”. At this point provided ether and VERI tokens are transferred to VeRentExposure. You can track the status of exposure in columns “Time Left” and “Projected ROI” calculated based on the average ROI.
  2. After the exposure time has elapsed, the status changes to “closing”. It may take some time until the exposure is finalized and the funds locked in it available.


  1. Once exposure is closed, it is move to “Closed exposures” and updated with the actual ROI. You can withdraw your funds. In order to do that, click “coin” icon in the right side of the table row.


  1. Alternatively to creating new offer, you can accept existing ones, You can find them in  “Offer Veri Tokens” tab “Offers” table. To accept an offer click “shopping cart” icon.

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