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What is VELO
The Velo Protocol is a value transfer engine that consists of two components: a Digital Credit Issuance Mechanism and the Digital Reserve System. Together, these components allow Trusted Partners to tap into the reach, operational efficiency, and transparency of the Velo Protocol and its underlying distributed ledger technology. The Velo Protocol enables multiple business use cases that are all based on its core function: issuing a collateral backed digital credits that can be used for frictionless value transfer.
Existing financial infrastructure, particularly in South East Asia, creates a money transfer market that is fragmented and uncompetitive, resulting in high transaction costs as transfers are passed through multiple middlemen. While distributed ledger technology offers a simple solution. extreme price volatility and regulatory compliance issues in cryptocurrencies discourages real world adoption of blockchain based solutions.
Velo solves this problem by issuing bespoke digital credits on the blockchain that are tailored to suit a business’s needs. The VELO token acts as collateral to ensure settlement, representing the value of digital credits and fiat deposits in the network. Velo will promote real world use cases for the VELO tokens and digital credits by building a network of partners that have both physical and digital reach. The result will be to improve the lives of millions of underbanked and underserviced people around the world by empowering the businesses that serve them with the latest technology.
DetailsIEO (Kucoin Launchpad): Sep 05, 2020 - Sep 16, 2020
Token supply: 30,000,000,000 VELO
Total tokens for sale: 75,000,000 VELO
Hard cap: 2,000,000 USD
LegalBlockchain Platform: Stellar
Registration country: Virgin Islands (British)
Token infoTicker: VELO
Token price in USD: 1 VELO = 0.05 USDT
Exchange Listing - 0.7%
Private Placement - 4.9%
Founders - 10.0%
Velo Development Reserve - 23.3%
Early Backers and Team - 7.9%
Market Development - 18.3%
Future Development - 18.3%
Reserve - 16.7%