Launched = December 27th, 2021Initial Token Supply = 1 billion tokensActual Circulating Token Supply = 43 million tokens (last confirmed amount couldn’t find new number)Market Cap = $50 million USDCoin Market Value (CoinMarketCap) = $0.04573 USDActual Supply of Circulating Market Cap = $1.9 million USDDay Trading Volume = $780,000 USDPercent of Supply Trading per Day = 39.7%Node Cost:

ROI/Year in Tokens (If Compounding) = 3,678%ROI/Year (If not Compounding) = 365%ROI/Day = 1%Tokens (if compounding every day) at the end of year = 36,780 VPNDPayback Period (if compounding) = ~70 daysNodes Hosted at this time = 42,835 (42,835,000 million tokens in nodes minimum)Sell Tax = 10%Buy Tax = None

• Sell Pressure: — Sell pressure from investors claiming and swapping VPND for other token — Of the 10% tax 9/10ths of that is swapped for AVAX. — At node creation 20% of the 1000 tokens spent is swapped for AVAX• Market Cap: — Market cap of this project isn’t really $50 million USD. This is because 950 million of the tokens are in a wallet that isn’t touched meaning that only 43 million tokens are in circulating supply. (The remainder used in other ways). Now if we do some math…[(price/token) (Actual Circulating Supply),,,,, (0.0457343,000,000) = 1.9 million]You can see this wallet at this URL on DeBank.com https://debank.com/profile/0x20b0013dcbb9697a8c3d0be2cfb004d6bd023b87• Revenue: — Claim tax (10% at time of sale) — Merch (minimum revenue) — RPC Endpoints (via ChainStack)• Potential Revenue — Vapor ChainGoing to be funded via treasury based on community vote not clear if own chain or AVAX sub chain. Doesn’t seem well thought out.• Node Cap: — Cap of 5 nodes to prevent to much compounding at the lower levels when the bonuses are greatest.• Node Creation: — Consumes your tokens, you can’t un-stake and pull out your initial.• No Node Hosting Fee• Where does the referral Tokens come from?• Money comes in Tokenomics: — 10% Liquidity Pool — 10% Team for expenses — 80% Goes to the treasury 25% of that 80% is swapped for AVAX• Huge Wallet — 875 million of the 950 million tokens were put in treasury wallet to sustain the rewards. But that means that there is a giant rug pull looming over us… — 125 million were for the rewards at launch but for some reason only 43ish million are actually circulating. — According to the whitepaper….“Those 875.000.000 $VPND are the runway of the project, in other words the time the contract can pay the daily rewards even if no one is creating new nodes. That is why we are focusing on strong liquidity at the beginning and later we will switch the distribution system to have a solid Rewards pool.”A release of a large portion of these tokens though would trigger a plummet in Vapor USD price.• Investments — YieldYak (40,700 AVAX) — TraderJoe Liquidity Pool (VPND/WAVAX) ~23.5 million VPND and 14,500 WAVAX — Strong (11 nodes potentially more in near future) — Convex (311 CVX) — SushiSzwap (1,114.40 SUSHI Staked) — Time Wonderland (=$0) Liquidated on 1/31 for 4k loss — GALA node — AVAX Validator Node — Bored Ape Yacht Club NFTMy thoughts on this are that they are not invested very well. The issue I see is that they are investing in anything that can allow them to make more then what they would have to pay their investors. I personally do not think Strong Nodes is a strong investment since it is sinking, and they are tying themselves to Strong Nodes. So potentially if/when Strong collapses then you are looking at Vapor sinking a bit, due to the closer tie. More diversification is defiantly needed.

— You have to have 1 million tokens to create any governance votes

— That is a huge wallet and kinda hangs over the project as a whole

— Protocol is a mishmash of other protocols and “node” projects

— Not diversified and not earning a lot of revenue

— Team behind it isn’t well versed it seems at least from a Technological Economy standpoint (CEO is a car salesman)

— No Hard Audit has been done, So team could have a secondary wallet that they own

— Yields are earned from Treasury investment and then they use that to buy Vapor to create buy pressure on the token.

— Might raise the buy price for nodes which will take away the “cheapest node” appeal