With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, VELIC is a crypto-finance platform that focuses on security which is home to a variety of related cryptocurrency financial products and services.
"While blockchain technology is most commonly defined as a decentralized, distributed ledger used to record transactions across multiple computers, it can also be seen as a distributed database that maintains a growing list (also known as a chain) of data transaction records.
Consider that every participant of this decentralized system has a copy of the list of transactions. This means that no “official” copy exists. The distributed nature of the chain prevents tampering and revisions, as every action on the blockchain is fully transparent. In turn, data that is stored on a blockchain can easily remain authentic, since the security of every transaction is recorded.
Leading us to why VELIC was built on the belief that there can be more to blockchain security than being a financial centralized system that is trustless. Its sole aim is to transform the system that handles how Crypto based financial products are built and delivered.
This will allow Crypto and financial professionals to have access to a more transparent Crypto-finance area."
With that being said, Velic has the goal of managing user assets and making their portfolios simplified so that they can use other relevant features and price indicators that will help their trading activities.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is VELIC?
As depicted above and as indicated on the official website of Velic, Velic is a crypto-finance platform that focuses on security which is home to a variety of related cryptocurrency financial products and services. in addition, Velic's main goal is to attract institutional and individual investors who have been poorly served by the industry through providing access to the crypto-finance arena. The various services offered by Velic will all take place within the limits of a single user account.
Security on the Velic platform is also guaranteed through the use of proprietary confidential sharing protocols (cryptographic security protocols) that will ensure that no one other than a legitimate account owner will have access to user data while eliminating the risk of a stolen key when including a function that allows locked assets below the key can be transferred if an extreme event occurs such as the death of the user.
Velic has the goal of managing user assets and making their portfolios simplified so that they can use other relevant features and price indicators that will help their trading activities.
The Impending Challenges
Lack of trust
Most systems developed on the blockchain technology lack risk assessment and management tools, and thus, proper risk analysis cannot be carried out to determine the potential of success or fail quota.
Inavailability of a unified platform
According to research, there is no unified crypto platform where users can access multi-level finance service. In order words, Trading, Loans, Asset security are all different services that require multiple accounts on different service providers which can be difficult to maintain and keep track of.
The Solution Offered
VELIC which is coined from the solutions it proffers ranges from the Vault, the Exchange, the Loan, the Investment and down to the Crypto Asset and tackles Issues such as hacks, price volatility, and limited risk management. In their own words, VELIC is a security-focused crypto-finance platform, upon which a range of advanced crypto-financial products and services are being built and delivered.
The features are aligned with the platform name ‘VELIC’:
The vault here makes reference to the sweeping ecosystem that stores vital information, i.e private keys and resources. This area is very important because it is vulnerable to attack of which if succeed, all users assets and funds will be moved away.
Exchange is the marketplace for buying and selling of cryptocurrency. So VELIC will build a protected and easy to understand interface that will give the best exchanging background.
Loan open more capital for investment and Velic is extending it into cryptocurrency ecosystem. You would now be able to gain admittance to crypto loan at positive rates
Velic makes a loads of speculation openings that will yield returns for the financial specialist.
Everything done on this platform will be majorly crypto assets. VELIC will increase the adoption and uses of cryptocurrency across the world.
VELIC Platform Preview
VELT (VELIC tokens)
VELT tokens that control the VELIC ecosystem. This is exploited through platform participation and can be used to combat services in the VELIC ecosystem in the form of discounts.
VELA (VELIC Authority)
VELA tokens have a conversion rate of 1: 1 with VELT tokens. By choosing to convert VELT tokens to VELA tokens, the owner will be able to receive a discount for transaction commission. VELIC will continue to enable smart investment through market data analysis teams to provide general market information, industry reports and quantitative analysis to our users.
VELD (VELIC Dollar)
VELD notification code is stablecoin which will be issued by VELIC and can be supported by various assets including fiat, other stable points (such as USDT, USDC and TUSD) and other digital assets. It functions as a constant value repository, maintaining the wealth of users on the VELIC platform.
Tokenomics and ICO Details
VELIC token or VELT is a token run on top of the ICON blockchain. Total supply is 15 billion, with 90% of them will be produced through trans-fee mining. 6% will be for private and public sale, and the rest will be for VELIC services. This put out roughly at 900 million initial valuations. There is no lock-up, so buy/sell pressure will happen since the first day after the sale is finished.
Mining will be done daily with 2 years mining period. This means for every day in 2 years, new tokens will go to the circulation. If there's no demand for the token, then we can expect a decrease in price. Because of this, VELIX product must be ready as soon as possible and customer acquisition must be finished asap. I personally think it's a challenging task considering that much trans-fee mining exchanges are struggling to keep their token demand and users to use their exchange, but if VELIC can deliver their product, customer love to convert their token to VELA or in other words use the ecosystem, then price should not be a big problem.
Price: 1 VELT = 0.01 USD
Accepting: BTC, ICX
Whitelist/KYC: KYC & Whitelist
The Benefits - Simply put "WHY YOU SHOULD CHOOSE VELIC!"
Bеttеr Security for Assets
Embedded within thе platform are top nоtсh security рrоtосоlѕ that hаvе been ѕресіаllу dеѕіgnеd to ensure thаt bоth anonymity аnd аѕѕеt ѕаfеtу and not соmрrоmіѕеd. An іnnоvаtіvе рrоtосоl bеіng used bу thе platform іѕ knоwn аѕ the Sесrеt Shаrіng security рrоtосоl and thіѕ рrоtосоl gives thе platform full ѕесurіtу аnd thuѕ іn turn, the assets whісh hаvе been ѕtоrеd оn thе рlаtfоrm gеt tо enjoy аddеd safety аnd ѕесurіtу from unаuthоrіzеd access.
Loan Lеvеrаgіng Oрtіоnѕ
Thе VELIC рlаtfоrm brіngѕ to users іn іtѕ рlаtfоrm, аn орроrtunіtу fоr loans whісh thеу саn uѕе іn саrrуіng оut optimum opportunity соѕt decisions that wоuld help thеm tаkе аdvаntаgе of асtіvіtіеѕ within thе market. Thеу uѕе their аѕѕеtѕ as lеvеrаgеѕ placed аgаіnѕt thеѕе lоаnѕ.
MEET THE AMAZING TEAM AND PARTNERS
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
VELIC Account Email Address: email@example.com
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.