Frequently Asked Questions
Find answers to common questions about Voi Network
FAQ Categories
General
Voi is a Layer-1 blockchain network and Smart Contract platform designed to provide fast, secure, and scalable transactions. It aims to solve common blockchain issues such as high fees and slow transaction times, by offering:
- An average block time of approximately 2.8 seconds
- The resiliency of the AVM (Algorand Virtual Machine)
VOI tokens can be obtained via one of the following methods:
Option 1: Purchase VOI tokens on a centralized exchange. VOI is currently available on
Option 2: Purchase VOI from a decentralized exchange and bridge to Voi Network using the . VOI is currently available on the following networks:
- Algorand (, )
- Base
- Arbitrum
Option 3: Bridge USDC to Voi Network from Algorand, Base, or Arbitrum using the . Then swap aUSDC (which you'll receive in your Voi Account after bridging) to VOI on . For more information on bridging, please view the .
There are many things you can do with your Voi, and more being added every day! The Voi token's primary purpose is to be the currency used to pay for transactions on the Voi blockchain.
You can also stake your Voi and operate a node to earn Voi as a reward each week, participate in Decentralized Finance (DeFi), purchase and trade NFTs, and more.
For more information about staking in the Voi Staking Program, please refer to the
.Visit the following applications to explore the Voi ecosystem:
Blockchain
Wallets
DEX
- - Coming Soon
NFTs
- - Coming Soon
Bridge
Staking
The Voi Staking Program is a key initiative designed to incentivize early participation and long-term commitment to the Voi network. It offers two main ways to earn rewards:
- Locking up tokens: By locking VOI tokens in a special contract, you can earn bonus rewards through an airdrop. The bonus depends on when you stake (earlier weeks offer higher rewards) and how long you lock up (longer periods provide higher bonus rates).
- Staking for network security: By staking your locked and bonus tokens on a node, you contribute to network security and earn block rewards.
Key features include:
- Exclusive access through partner exchanges
- Incentivized early lockup with decreasing weekly bonuses
- Flexible lockup durations (1-18 months)
- Weekly cap of 50 million tokens with an overflow mechanism
- Immediate bonus and block rewards
The program started on September 30th, following the exchange listings on September 26th. For detailed information and participation instructions, refer to the
.Staking in Voi refers to the process of delegating your VOI tokens to support the network's operations. By staking, the tokens in your account will contribute toward voting for the inclusion of new blocks. The proposer of each block will be rewarded for each block that is proposed.
For additional information about running a Node and staking, please refer to the
section of this website.Locking in Voi refers to the process of locking up your VOI tokens in a Smart Contract until a specified date and vesting period. By Locking tokens, you will earn an up-front bonus on the locked tokens, and the full future value of your tokens may be used to Stake on the network and earn block rewards. For additional information on the Voi Staking Program, please refer to the
on the Voi Staking Program.Vesting is the process of gradually releasing tokens from a locked account over a specified period of time. This is a common practice in blockchain projects to ensure a smooth transition from the initial token distribution phase to the mainnet launch.
Tokens typically vest over a period of 12 months, with an equal portion of the tokens being released each month.
For example, if you received 12,000 VOI tokens during Testnet Phase 2, then after any optional lock-up period ends you would receive 1,000 VOI tokens each month for the next 12 months. On Voi, locking and vesting is done using Smart Contracts, and as such at the specified interval (usually once per month) your vested tokens will be available for withdrawal from the contract.
All tokens in the locked contract can be staked, and any block rewards earned from staking will be added to the contract's balance. This allows your vested tokens to automatically compound, and earned rewards above your locked and/or un-vested balance are available for withdrawal at any time.
Yes, tokens locked in a Voi Locking and Vesting Contract can earn block rewards by staking the contract's account on a node. This allows the contract's Voi tokens to contribute to the network's security, and for each block proposed by the contract's account the contract will receive a portion of the block rewards.
All tokens in the locked contract can be staked, and any block rewards earned from staking will be added to the contract's balance. This allows your vested tokens to automatically compound, and earned rewards above your locked and/or un-vested balance are available for withdrawal at any time.
Node Operation
Running a node on the Voi Network is an excellent way to participate in the network's consensus and earn rewards. Here's a comprehensive guide to help you get started:
1. Choose Your Setup Method
There are several ways to set up a Voi node:
- Voi Swarm (Recommended for Linux users): A streamlined setup process for Linux.
- For troubleshooting:
- Aust's One-Click Node (Recommended for Windows users): Easy setup for Windows.
- For troubleshooting:
- Manual Setup: For advanced users who prefer more control.
2. System Requirements
Ensure your system meets the minimum requirements:
- 4 CPU cores
- 8 GB RAM
- 100 GB SSD storage
- Stable internet connection
For detailed requirements, check the
.3. Installation Process
Follow the guide for your chosen setup method. Generally, the process involves:
- Installing necessary software
- Configuring your node
- Starting the node and syncing with the network
4. Node Management
After setup:
- Monitor your node's performance
- Keep your node updated
- Participate in consensus (if running a participation node)
5. Troubleshooting
If you encounter issues:
- For Voi Swarm: Check the page
- For Aust's One-Click Node: Refer to the page
- For general help: Join the and ask in the #node-runners channel
6. Advanced Topics
7. Additional Resources
Remember, running a node is an ongoing process. Stay updated with the latest Voi Network news and updates through the
, , and .For any additional questions or support, the Voi community is always ready to help in the
.Accounts
A Voi Account is a unique digital identity on the Voi network. It is associated with a Voi Wallet and a 25-word mnemonic or secret key. The mnemonic is used to access your Voi Account, and the secret key is used to sign transactions. Your Voi Account is necessary to participate in the Voi ecosystem, including staking, locking, and voting.
The mnemonic for your Algorand account can be used on the Voi Network to generate the same Voi Account Address. It is important to note that the re-key state of your Algorand account will not be preserved on the Voi Network, and you will not be able to access your Algorand account from your Voi Account. Your Voi Account will be a separate entity from your Algorand account, sharing only the same Voi Account Address.
In other words, while one mnemonic will result in a Voi Account Address that is the same as your Algorand Account Address, the Voi Account is not the same as the Algorand Account. The Voi Account is a separate entity with its own set of assets, transactions, and other data.
NOTE: It is generally recommended that you use a new, separate account on Voi Network for all Voi Network activities to avoid confusion and for improved security.
Wallets
A Voi Wallet is a digital wallet that allows you to access your Voi Account. It is necessary to have a Voi Wallet to participate in the Voi ecosystem, including staking, locking, and voting. Voi Wallets allow you to access dApps using your Voi Network account(s). Voi Wallets can be used to generate new accounts, or you may import existing ones.
There are multiple wallet options available, including:
- (browser extension)
- (webapp and extension, with Ledger support)
- (webapp)
To create your first Voi Account, you will first need to choose a Voi Wallet. There are multiple wallet options available, including:
- (browser extension)
- (webapp and extension, with Ledger support)
- (webapp)
For more information, visit the
. Each wallet will allow you to create one or more Voi Accounts, and each account will have a unique 25-word mnemonic, or secret key. Store this secret key in a secure location, and do not share it with anyone. You will need this secret key to access your Voi Account.Yes, your account is interchangeable between Voi wallets. In fact, since your Voi Account is entirely contained on the blockchain, meaning when you move between wallets you're just using a different program to "view" your account information and sign transactions, you can use your mnemonic to move your account between wallets or even use the same account with multiple wallets.
Bridges
A Bridge is a tool that allows you to transfer assets between different blockchain networks. The Aramid Bridge is a bridge that connects the Voi Network to the following networks:
- Base
- Arbitrum
- Algorand
For more information and a guide to using the Aramid Bridge, please refer to the
.Development
Voi Network is an AVM (Algorand Virtual Machine) based blockchain, and as such it supports all Algorand developer tools and documentation. This includes the Algorand SDKs such as the
and .To make development easier, public endpoints are available for the Voi Indexer and Algod API, which are used to read data from and interact with the network. For larger projects, we recommend using your own Algod and/or Indexer instances or subscribing to
.The public endpoints are available at:
- Voi Node API Base URL:
- Voi Indexer API Base URL:
Additionally, Voi has embraced the ARC-72 Smart NFT standard, and a public indexer endpoint is available for correlating and reading Smart NFT token and collection data. Documentation for the ARC-72 indexer can be found at
. Smart NFTs contain an underlying smart contract that is capable of enabling additional functionality and features.For more information about building on Voi Network, please refer to the
.ARC-200 and ARC-72 are the standard token formats adopted by Voi Network. These "Smart Assets" offer enhanced functionality compared to traditional blockchain assets:
- ARC-200: This standard is used for fungible tokens, similar to ERC-20 (Ethereum) or ASAs (Algorand). These tokens can represent various fungible assets like cryptocurrencies or tokenized commodities.
- ARC-72: This standard is used for non-fungible tokens (NFTs), allowing for unique digital assets like digital art or collectibles.
Key features of ARC-200 and ARC-72 tokens:
- Programmability: Unlike "Plain Assets," these Smart Assets can have additional logic and metadata encoded directly into them.
- Versatility: They can represent a wide range of assets with complex behaviors. For example, an ARC-200 and/or ARC-72 token could include built-in subscription or royalty systems.
- Standardization: These assets use a set of standardized smart contracts, making them easier to create, transfer, and manage within the Voi ecosystem.
The main advantage in using these standards on Voi is the ability to create more sophisticated and flexible digital assets compared to simpler token standards. This opens up possibilities for complex financial instruments, unique digital collectibles, and tokenized real-world assets, all with built-in programmable features.
Complete documentation on these standards can be found on the Algorand Foundation ARC registry:
Voi Network operates a public ARC-72 indexer, which can be used to search for ARC-72 tokens and metadata information such as owners, creators, collections, images, and more. The complete documentation on this indexer can be found here:
While the use of these standards is not mandatory, they are recommended as a mechanism to ensure interoperability and compatibility within the Voi Network. By conforming to ARC-200 and ARC-72 when creating digital assets, tools and wallets within the Voi ecosystem are able to identify and interact with the assets without additional customization.