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🚨Velvet.Capital Token Distribution (Airdrop)🚨
🚨 Airdrop Alert🚨: DeFi Asset Management Done right! Everything you need to know for Velvet.Capital’s Token Distribution & Airdrop!
The Future of DeFi is Velvet.Capital
We’re building Velvet.Capital — a Cross-Chain Asset Management protocol that helps people & institutions create DeFi products. The products can be as simple as tokenized funds & crypto portfolios and as complex as structured products & advanced yield farming strategies which allow you to earn additional yield so you are always getting the most out of your digital assets!
Our uniquely diverse team — with experience launching digital ventures in both Web3 and Finance — came together through a shared passion to shake up the financial world for the better! At Velvet.Capital, we’re dedicated to bringing financial independence, free from intermediaries and centralized parties, to the next billion crypto users! But to achieve our grand vision and shape the future of finance, we need the support and participation of DeFi pioneers like you!
DeFi Asset Management Done Right
A Decentralized Community-Managed Ecosystem
At Velvet.Capital, we believe in DeFi done right! Financial infrastructure should be a public good — owned by its users and bring value to them! To ensure that Velvet becomes a decentralized, community-managed protocol, we are introducing VLVT, a governance token that grants voting power to token holders who stake their tokens on Velvet.
However, the utility will go far beyond governance as we strive to build a sustainable ecosystem. Velvet.Capital is earning revenue in BTC, ETH, BNB and other cryptocurrencies and will use them to buy-back VLVT from the market and distribute rewards to token holders who stake their tokens to participate in the governance. In addition to that, we’re creating a Risk Management module that will act as a back-stop in case of force majeure events (and will ultimately align incentives for the governance participants). This aligns responsibility for due diligence and voting on integrations with accountability for staked tokens, creating a network effect that increases the benefits for users as the project grows and becomes increasingly safe. By participating in this system, you can help protect and strengthen the Velvet.Capital protocol while earning rewards for your contribution.
Token Allocation and Distribution
As a first step towards creating a decentralized community-managed ecosystem, 50,000,000 VLVT tokens will be allocated to early adopters via retroactive distribution & further staking rewards. There are three main parameters in determining the allocation:
User’s Total Value Locked (TVL) on Velvet — the more you deposit the more tokens will be allocated to you
Time using Velvet — the longer you keep your deposit the more tokens will be allocated to you
Start date — the earning rate per day will be decreasing exponentially, the earlier you join — the larger allocation you’ll earn
Aside from these parameters, to be eligible for the retroactive distribution you will have to hold Velvet products during several snapshot dates prior to the token launch. The snapshots will be publicly shared so that everyone can verify their eligibility for token distribution.
The Early Bird Gets the (Most) Tokens
The fundamental key of this model is its exponential decay function, meaning that, all else equal, the earlier you are — the more tokens you’ll receive. At the same time, this model rewards the most loyal members as it takes into account time on Velvet. Finally, this model ensures that the largest participants are rewarded more for bringing more TVL to the platform.
As a token holder, you have the opportunity to drive Velvet’s development & growth by submitting proposals that can range from new integrations and protocol upgrades to new product proposals and earning more tokens especially if you’re actively participating in the overall governance.
There will be further opportunities to earn tokens by taking on the role of Velvet Ambassador or actively contributing to the protocol development & growth. VLVT tokens will be regularly distributed to contributors (current and future) through the Velvet Ecosystem Fund that will reward development, marketing, BD and other contributions to the Velvet protocol.
Be A Part of the Next Big Thing in DeFi
We’re looking for DeFi Pioneers to join us on our journey to reshape finance! It’s been a busy year thus far & we accomplished a lot but we have more work to do! We are backed by Binance Labs and other top Web3 and traditional funds and won hackathons & bounties at the BNB Revelation Hackathon, EthCC, EthIndia, EthNYC, Polygon Summer Hack, Ledger, Starknet Hack and others. We are super pumped to bring DeFi to the next billion users!
Imagine what we can do if you join us? Let’s build the future of finance together!
Originally published at https://velvet.capital.