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VDollar seeks to venture into the crypto industry at a time when global adoption is on the rise.
VDollar Exchange Ltd is coming up under the market statement, “Mining is Trading”. The Colorado-registered crypto exchange allows users to trade cryptocurrencies. Simultaneously, 100% of transaction fees generated are placed into the USDT Reserve Pool belonging to all token holders. The on-chain address of the USDT Reserve Pool will be published for transparency and verification.
According to VDollar, its new trading mining mechanism utilizes the technique of perpetual motion. Additionally, the exchange’s native token, VDollar (VD), will have an issuance cap set at 10 million tokens. Each VDollar token will be pegged to the USDT. This means that initially, every 1 USDT transaction fee will mint 1 VDollar token, thereby “making transaction fees your asset”. The more users trade, the higher their earnings.
Various tiers will mark the phases of coin issuance, with the first phase having 4.5 million coins. At the start, 1 VD will be equal to 1 USDT. A pattern will follow thereafter of 1:2, 1:4, 1:8, and so on. However, over time, every tier is halved, slowing down new token issuance.
There are a variety of pairs one can trade on the USA headquartered platform. These include the most popular: BTC/USDT, ETH/USDT, and VD/USDT, just to mention a few. The trading platform uses super representatives for the generation mechanism. A constant total of 32 seats is maintained and each of the super representatives is chosen through voting.
VDollar and Crypto Industry
At writing time Bitcoin, the leading crypto by market cap price was trading around $34,465, having rebounded from its past few weeks’ bottom. Notably, the digital asset has experienced a 277.2% growth in the past 1 year, going by analytics from CoinGecko. BTC’s counterpart Ethereum has also experienced an 896.9% gain over 1 year. With increased hype and expectations of the bull cycle, various platforms have come up to leverage blockchain technology, VDollar exchange being one of them.
VDollar seeks to venture into the crypto industry at a time when global adoption is on the rise. The exchange’s mobile application is supported on both iOS and Android and is, therefore, available on App Store, Google Play. Alternatively, it can also be downloaded from VDollar’s website by scanning a QR code available on the same.
VDollar’s innovative trading mining mechanism claims the advantages of user-friendliness and flash trades. The latter is explained as “quick order matching and one-click trading” with a variety of transaction types. The interface also has a custom trading panel for setting preferred trading layouts, and a function to ease asset transferability. Further its integrated management not only supports multiple currencies but also multiple security verifications.