Velic

 
VELIC is an all-in-one crypto finance platform aimed for retail or institutional investors. It aims to provide a new ground for doing financial activities, such as trading, loan, and so on in the world cryptocurrency. To put it simply, it's your crypto financial playground.

Unlike any other crypto finance platform, where they offer limited services (only exchange, or loan), VELIC aims to integrate all of them into a single, yet robust platform. It is opened for retail to institutional investors, with the goal to unlock the maximum potential and opportunity provided in the world of cryptocurrency.

Feature VELIC

One of the key features from VELIC is the private key management. It aims to solve the complexity and security of storing the private key in order to help users backup and store their private key. The solution is quite simple, encrypt the private key, split it into different parts and then spread it to several storage points. By doing this, the idea is to make sure that somebody has to acquire the entire units and then decrypt it.

Compared to other exchanges, or loans provider (crypto of course), VELIC provides an additional backup for customer private key. Of course, they need some degree of trust in order for this to works. However, users should be able to detect if there's some malicious activity on their account which suggests there's some abuse on the system.

This feature might be useful for a retail or institutional investor who doesn't want to face the hassle of backing up or manage their private key. It's ideal for those who prefer simplicity and ease of access over security, to some degree. Of course, this private key management is not enough. There should be some additional security features such as 2FA, strong password generator, SQL injection protection and so on.

In the end, VELIC must combine security with ease of access if they want to be the market leader.

Institutional investors are predicted to be an integral part of the whole cryptocurrency ecosystem in the near future. With this idea in mind, it makes sense to build a product which can be used by them, and of course gain profits from it. In this aspect, VELIC clearly stated that institutional investor is one of their key customers.

Targeting institutional investor is a smart and maybe necessary strategy if VELIC wanted to stay competitive with other exchanges, loan or crypto finance platform. And this is strengthened by the fact that VELIC is backed by ICON and other influential players in the crypto industry.

Token Velic (VELT)

VELIC token or VELT is a token run on top of the ICON blockchain. Total supply is 15 billion, with 90% of them will be produced through trans-fee mining. 6% will be for private and public sale, and the rest will be for VELIC services. This put out roughly at 900 million initial valuations. There is no lock-up, so buy/sell pressure will happen since the first day after the sale is finished.

Mining will be done daily with 2 years mining period. This means for every day in 2 years, new tokens will go to the circulation. If there's no demand for the token, then we can expect a decrease in price. Because of this, VELIX product must be ready as soon as possible and customer acquisition must be finished asap. I personally think it's a challenging task considering that much trans-fee mining exchanges are struggling to keep their token demand and users to use their exchange, but if VELIC can deliver their product, customer love to convert their token to VELA or in other words use the ecosystem, then price should not be a big problem. 

Website : https://velic.io/web/html/index.html
Whitepaper : https://velic.io/web/download/VELIC_Whitepaper_V1.02.pdf


Author :

Bitcointalk username : LyaM650
VELIC account email : agusr3087@gmail.com