$VLX: Getting to know the Utility Token of Verlux, Its Use Cases and Tokenomics
Hello Verlux Community!!
We are an upcoming Decentralized Cross-Chain NFT Platform built on the Cardano Blockchain. During the course of this project, we are set out to provide a Marketplace where users will be able to mint, sell, buy and swap NFTs on various Blockchains to the Cardano Blockchain leveraging it’s fast transaction speed and low transaction costs.
In the past few days, we introduced you to our project and announced to the crypto community of our startup. In today’s blog post, we will be taking a look into the Utility Token of the Verlux Cross-Chain NFT Marketplace. In order to build a decentralized ecosystem, Verlux will issue a utility token deployed on the Cardano Blockchain that will power the ecosystem which will aid in community governance and token holders, to actively engage in the shaping of our decentralized ecosystem.
The token named VLX (ticker symbol $VLX), is a Cardano Native token deployed on the Cardano Blockchain.
With a total supply of 1 billion tokens, VLX will grant users the ability to interact fully with the Verlux NFT Marketplace with its utility ranging from governance to transaction fees.
Use cases of $VLX Token will be outlined below:
Governance: Holders of our token will be made part of the decision-making process of issues that affect our Eco system. As such, holders of our token will be given the ability to vote on necessary decision-making process that will affect our ecosystem. $VLX will enable users to vote on multiple upgrades and decide on further developments of our platform.
It is important to note that the number of votes one can give and participation in said voting process will be dependent on the amount of token you hold.
Transaction Fees: Most transaction fees will be taken in $VLX
(i) Cross-Chain Swap transaction costs
(ii) NFT Purchase transaction costs
(iii) Ad slot purchases.
Exclusive Benefits: Top holders of our token will be given Exclusive access to rare and limited edition NFTs which will only be made available to the Public when Top holders have had prior access to.
Featured Listing: Due to the large number of NFTs that will be on the platform, users will be able to purchase ad slots for their NFTs using $VLX Token.
NFT Farming: Users will be able to stake a preset amount of $VLX on our platform and be able to earn rewards in limited edition NFTs which can be tradable on other NFT platforms too.
Profit Sharing: Top holders will be able to benefit also on our platform buy earning a fixed percentage of profits made from all the transactions carried on our platform utilizing the VLX token.
Creator Verification and Voting: Users will be always be more likely to buy or transact from verified creators on our platform. As such creators who will wish to verify their platform will be required to stake a preset amount of VLX token before they can apply for verification.
Holders of our token will also partake in the voting for the verification of the creator’s profile.
With a total supply of 1 billion tokens, $VLX will be distributed thus:
Seed Sale — 25% (250,000,000)
Pre-Sale — 20% (200,000,000)
Public Sale — 15% (150,000,000)
Team & Advisors — 8% (80,000,000)
Marketing -15% (150,000,000)
Strategic Partnerships — 7% (70,000,000)
Reserve Funds — 10% (100,000,000)
How to get $VLX?
Our token will first become available through Seed, Pre-sale and Public sale phases.
Early investors can choose to buy in as soon as we start of sales. Our project poised to give a much-needed solution to the NFT Ecosystem is already receiving amazing support from our community as well as potential retail and institutional investors. The next step for Verlux after its Sale stages will be preparations to be listed on Exchanges.
Some Important Points to Note:
1. All team tokens, liquidity and marketing tokens will be available in transparent wallets that can be viewed by anyone at any moment.
2. Potential early adopters of the token are advised to keep up with our social links as due details on how to join in will be released soon. We will be starting our seed sales soon.
3. Funds raised will be used in product development, operational services and marketing.
Our Social Media Links