When was VLX (Velas) issued? Learn about the origin of VLX (Velas) in one article

The Velas (VLX) token, native to the Velas blockchain platform, was first issued on October 14th, 2021.

Oct 04, 2024 at 10:54 pm

1. VLX (Velas) Issuance Date

VLX (Velas) was first issued on October 14th, 2021.

2. Origin of VLX (Velas)

VLX is the native token of the Velas blockchain platform. Velas is an enterprise-grade blockchain solution designed for high scalability, security, and ease of use. The platform targets businesses and developers seeking fast and efficient blockchain applications.

3. Background

a. Velas platform was initially launched in 2019 under the name "AI Blockchain."

b. In 2021, the platform was rebranded as "Velas" and underwent significant technical upgrades.

c. As part of the rebranding, a new native token, VLX, was introduced to replace the previous token.

4. VLX Tokenomics

a. Total Supply: 2,500,000,000 VLX

b. Initial Distribution:

10% to Seed Investors
20% to Private Sale Participants
70% to Public Sale Participants

c. Use Cases:

Gas fees for transactions on the Velas blockchain
Staking to secure the network and earn rewards
Governance, allowing token holders to participate in platform decisions
Access to premium features and services within the Velas ecosystem

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