VeleroDAO the first stablecoin on Velas launches exclusively on VelasPad

March 14, 2022
Ecosystem Updates , VelasPad
0

VeleroDAO is the first stablecoin on the Velas blockchain.

IDO Date: Thursday February 24th

Staking Eligibility Cutoff: Thursday February 24th, 5 AM UTC

Public Sale Token Price: $0.005 USD

Allocation Round Opens: Thursday February 24th, 8 AM UTC

#VelasPad FCFS Round: Thursday February 24th, 1 PM UTC

Listing on WagyuSwap: Thursday February 24th, 3PM UTC

Maximum Token Supply: 1,000,000,000 $VDGT

Public Sale: Thursday February 24th

  • #VelasPad: 40,000,000 $VDGT

Circulating Supply at Listing: 28,000,000 $VDGT

Market Capitalization at Listing: $140,000 USD

Public Sale Vesting Schedule: 20% TGE, 1 month cliff, Linear vesting over 9 months

About VeleroDAO

VeleroDAO ($VDG) is a full-fledged fork of MakerDAO that works on Velas Blockchain, and the protocol behind the USDV stablecoin — a crypto that maintains the $1 value. Velero has improved the Maker`s auction system, having made it even more convenient and accessible.

What problems does VeleroDAO solve?

Velero proceeds from the demand experienced by Velas users: they need a stablecoin similar to DAI, and the opportunities Maker gives to users of applications on Ethereum.

How does VeleroDAO fit in the current ecosystem?

VeleroDAO is the first stablecoin on the Velas blockchain.

Tokenomics

Token utility

VDGT is the governance token and a source of recapitalization of the VeleroDAO protocol. VDGT tokens are a tool of influence in the VeleroDAO community and serve as the network recapitalization source. With the VDGT token, VeleroDAO community members can do these things:

  • Community management
  • Participating in recapitalization by creating new coins when the network needs them
  • Participating in liquidation auctions
  • Acting as a lender
  • Taking a loan.

Roadmap

For the current quarter:

  • Frontend for internal staking (1 week)
  • Liquidation module changes (1 week)
  • Adding new types of collateral (1 week)
  • Launch of the internal exchange (2–3 weeks)
  • Creation of a market maker bot (2 weeks)
  • Adding “multiply” to vaults.velero.finance (3 weeks)

VelerdoDAO Official Socials

🔹Website — https://www.velero.finance/

🔹Twitter — https://twitter.com/VeleroDAO

🔹Telegram — https://t.me/velerodao

Please note: in order to be eligible for participation in the IDO, you must follow the KYC guide below.

VelasPAD: KYC GUIDE

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