Topic: VLT (VAULT) (Read 142 times)

VLT (VAULT)

The Bankroll Network’s official token (ERC-20) on the Ethereum blockchain that captures value by being scarce, a store of value, and having a liquidity pool that is perpetually supported by the Bankroll ecosystem. It has a maximum supply of 1,800,000 million tokens. VLT is unique in that it follows a proof of liquidity model, meaning that the entire token supply was released as soon as it was minted. All tokens in existence were supplied to their OTC purchasers and any remaining were added as liquidity onto Uniswap V2. The funds raised from the OTC sale were then used to provide liquidity to the Uniswap VLT/ ETH trading pool from the very beginning. No additional tokens were kept for the Bankroll team/developer. The limited supply and proof of liquidity model in combination with the surrounding VLT dapp ecosystem create onchain value, and provide for very interesting tokenomics. For the dapp Life, there is a custodial wallet that was setup to support VLT price constantly. This wallet will continually purchase VLT from the open market (through Uniswap), creating constant buy pressure and longterm price support. Additionally, the custodial wallet creates a whale position that locks up a large share of VLT from the market which cannot be sold.

While VLT does not have a built-in staking mechanism, as it has reached it’s maximum supply, Stack: VLT Edition provides opportunity for VLT holders to earn passively and accumulate more VLT overtime (while also removing more VLT from the circulating supply). The design for VLT was created with much deliberation and provides structure for the VLT dapp ecosystem that incentives players to hold, as it will always be supporting the VLT price. The VLT token contract itself controls the main liquidity pool on Uniswap. Fees of 0.3% are constantly collected and retained in the liquidity pool. This means that VLT will constantly increase in value the more it is used. The value of VLT is not speculative and the floor of liquidity is constantly increasing. The smart contract code for the VLT token and Bankroll dapps utilizing VLT are all open source and have been verified on the Etherscan.io.

DISTRIBUTION

At the launch of the VLT contract, there was an OTC sale available to the public for a short window (10 ETH minimum purchase at a purchase price of $0.10 USD/token), which was heavily oversubscribed and sold out almost immediately. In total, 637 ETH was raised from 1,465,000 tokens. The 637 ETH was then injected and used to seed to the liquidity pool on Uniswap V2 for the 198,000 VLT tokens made available during the public sale. More details of the initial stages of deployment can be found on this Patreon post: https://www.patreon.com/posts/vlt-is-ready-to-38198285

https://bankroll.network
https://bankroll.network/media/bankroll-whitepaper.pdf