Velorex – Bringing DeFi to the Real World

The innovative crypto ATM machines the company is developing add sizable value to the upside of the project.

Introducing Velorex

Velorex is an open-source European company that offers both software and hardware solutions for Decentralized Finance (DeFi). Velorex products aim to bring cryptocurrency into the mainstream by merging it with fiat-related items such as debit cards and ATMs. They are also building a Smart Wallet that allows users a secure place to store funds with zero fees besides gas for transactions.

Velorex believes that people deserve autonomy over their finances. Their products seek to build up communities through access to a decentralized network that circumvents local economic downfalls.

Velorex is powered by the VEX token. VEX will be used in their products as the standard currency and has been listed on PancakeSwap.

The ATMs

Velorex ATMs are considered “Bankless” and are easily adaptable to be compliant with regional regulations and guidelines. Liquidity is managed by its owner along with access and operation controls. Purchasers can choose from a selection of models that each offer different features. The ATMs operate on a standalone network and can be either one-way or two-way terminals. The ATMs are compatible with all languages based on owner choice.

Velorex ATMs interact with DeFi products like Decentralized Exchanges (DEXes), granting users instant access to their currencies. This helps their users avoid a centralized “master wallet” that hampers financial freedom. Check out this teaser video to see the sleek design and learn more about them!

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Become an ATM Owner

Quite literally anyone can purchase and operate a Velorex ATM. This accessibility will help them build their network, as the only prerequisite for operating an ATM is to own it.

The ATMs will have slightly different pricing depending on the model. Pricing will start at $5,500 for the base model, an affordable price for many business owners – especially considering the profit they will bring in. You don’t need to own a business to buy an ATM though – if you want one in your house, you can put one in your house!

Major Reflections

An additional benefit of the ATMs involves VEX holders; every transaction on ATMs gives VEX holders reflections, even if the transactions are for different tokens. This means that as distribution of the ATMs expands, holders will begin to see large amounts of passive income!

Anybody can purchase an ATM and start to earn income (1-3% per transaction) while introducing crypto to their community. In economically unstable locations, these ATMs could be a lifesaver for communities. As the number of ATMs in service increases, the entire Velorex community will benefit as well.

Smart Wallets

Velorex intends for their Smart Wallet to be the ultimate location for financial management, working in tandem with their ATMs. Users can rest safe knowing their assets are protected thanks to the stringent security measures in place. The wallets have zero fees besides the required gas along with lightning-fast transaction speed. Velorex also offers 24/7 support for any technical issues users may come across.

If a user wants to mimic multiple bank accounts with their Smart Wallet, it’s extremely simple to create a second wallet tied to a single account. 

Velorex Debit Cards

Velorex Debit Cards will allow users to utilize their crypto holdings to pay for products and services at physical or virtual locations. The cards will use the owners’ VEX holdings to pay for purchases, granting VEX further utility.

These debit cards are another bridge between blockchain technology and the real world.  Much like Velorex ATMs the debit cards grant financial autonomy to people. They supplant the need to rely on potentially unstable currencies and financial restrictions that many people around the globe suffer from.

$VEX Tokenomics

Token Ticker: $VEX

Total Supply: 500,000,000

Network: Binance Smart Chain (BEP-20)

$VEX has a current tax distribution model that will be changed after the release of their ATMs and software network.

Current Distribution

Total Transaction Tax: 10%

Development: 6% (liquidity, contingency, marketing, development, wages)

Distribution: 2% (holders, airdrops, passive income, infinite)

Deflation: 2% (scarcity, non-returnable burns)

Post-ATM/Software Release Distribution

Total Transaction Tax: 5%

Development/Marketing: 3%

Redistribution: 1%

Deflationary Measures: 1%

$VEX tokenomics are designed to simultaneously increase the value of $VEX while also incentivizing holders. Every $VEX holder is entitled to reflections from all ATM transactions and $VEX transactions on PancakeSwap.

Velorex has also addressed the potential inflation issues that could arise from these distribution mechanics. By constantly burning a portion of every transaction tax, supply will be contained sufficiently to prevent overcirculation. 

The Future of Currency

Velorex understands that for many people, decentralized financial options are often the most economically safe option. Providing a decentralized variant of centralized finance products like debit cards, ATMs, and even a potential replacement to standard banking accounts gives them a unique niche. Anyone is able to access their products and this accessibility extending to physical services could revolutionize financial stability in local communities. 

Along with creating this impressive bridge Velorex both incentivizes holding their token and ensures its inflation is appropriate. These rewards extend to transactions that don’t involve $VEX, adding a further layer of incentive to holding the token. These features help make Velorex a self-sustaining DeFi ecosystem that is appealing to users beyond the physical products.

To learn more about Velorex, visit the following links:

Website

Whitepaper

Twitter

Telegram

YouTube

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Source : bsc.news