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VELIC believes that despite the recognition as a new asset class in the fiancé industry, the entire unit of institutional investors does not commit to the market in a meaningful way. This follows lack of trust in the systems that run on top of the blockchain. It also happens because the financial instruments in the crypto asset landscape are not sophisticated enough to satisfy the needs of prudent investors.
In addition, most solutions in crypto asset finance do not fulfill the risk management profile and transparency requirements of institutions and professional investors.
What Is VELIC?
Developed on the backdrop of the situations described above, VELIC is a security-focused platform that seeks to transform how crypto-financial products and services are built and delivered. The goal of the platform is to create access to the crypto-finance arena for professional and institutional investors that often get poor service from the industry. Once launched, the platform’s services will include:
- Asset management
- Loans
- Vault services
These products and services will be secured with VELIC’s proprietary security protocol layer tied together through an integrated crypto asset exchange. All platform activities will take place seamlessly and securely from a single VELIC user account. Besides, the platform will protect its services by a proprietary secret sharing protocol.
This underlying technology will act as a secure foundation upon which a full suite of crypto-financial solutions will be designed and delivered. It will also enable the development of complicated financial products to meet the needs of classy crypto asset investors.
Problems VELIC Seeks To Solve
Hacking
While the blockchain itself is secure, the applications and services built on it and/or interact with it are prone to threats that include human error and malicious attacks. There are numerous and ongoing cases of serious breaches of security. The platform seeks to overcome these challenges to enable prudent investors to engage the crypto-finance market on a meaningful level.
Risk Management
Beyond hacking incidents, the industry as a whole shows signs of immaturity, which leads to many products and services being unable to cater to the risk tolerance of prudent investors. These issues include questionable practices by some players, lack of transparency in processes and procedures including security, coding errors, unfulfilled promises by service providers, media hype, and unrealistic development timelines.
Crypto-Asset Custody
There is a compelling and immediate need to provide more robust crypto asset storage solutions, aimed at investors who require institutional-grade security to protect the assets of their clients. Lack of a provable, distributed crypto-asset safekeeping infrastructure is one of the key reasons preventing further growth of the industry and the ability for crypto-finance to become an attractive prospect for institutional investors.
VELIC Features
- Vault: this securely store access to crypto assets. It includes key loss prevention and solutions for the transfer of assets in case of extreme event.
- Exchange: This delivers the best crypto asset trading experience and environment by hosting transparent crypto-to-crypto trade service.
- Loan: The platform allows borrowing and lending of crypto assets at preferential rates
- Investment: It offers a variety of investment products used to achieve varying degrees of exposure to the crypto assets.
- Crypto asset: All the services on the platform will be based on crypto asset
VELIC IEO VELT Token Details
- Total Issuance: 15,000,000,000 VELT
- VELT Lock-up: None
- Mining Amount: 13,500,000,000 (90% of total issuance)
- Mining Period: 2 years
- Allocation: 90% of VELT Mining, 6% for private and public sale, and
4% reserves relating to VELIC services including stablecoin issuance and loan. - Daily Mining Amount: The daily total VELT mining amount is fixed. Users receive VELT tokens, prorated based on their exchange trading fees relative to total exchange trading fees incurred on VELIC Exchange for that day.
- Mining Schedule: A separate link will be provided
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.