2021-03-27 16:56:06
Cook.Protocol works with Velas to expand and improve asset management …
Cook Protocol is a completely decentralized cross-chain asset management platform built for professional investors and asset managers to unlock a whole new universe of DeFi innovation.
Cook chose Velas as the base to build, which gave him certain technical advantages and market positioning, such as virtually non-existent fees and immediate asset transfers.
Modifying governance model, adjusting platform fees, adding new features, updating DeFi whitelist or price change are some of the actions COOK Tokens hodlers can take, all the rules The process must be as fast and as cheap as possible at the technical level, this can now use Blockchain Velas as the basis for building, equally important interoperability with other blockchains, compatibility With the Ethereum Virtual Machine (EVM) and interoperability announced with Binance and Huobi Chain are some examples, helping to expand the number of assets that Cook.Protocol will be available on its asset management platform. thanks to Velas.
The advantages of building on Velas
Users and developers around the world can take advantage of building on Velas, which recently incorporated part of the Solana code base to become faster and cheaper, here are other advantages. :
AI-operated first blockchain: resolves certain flaws in traditional PoS and DPoS consensus, improves its security and decentralization.
⦁ Large and dynamic community: with more than 9500 users in a global community and 11 local communities with active members globally.
⦁ Professional and dedicated team with headquarter located in Switzerland, Velas Network was founded by Alex Alexandrov, founder of the world’s largest electronic payment gateway. www.coinpayments.net.
Interoperability: Velas combines full compatibility with the Ethereum Virtual Machine (EVM) and the Solidity programming language, which will soon become powerful adding interoperability with Binance and Huobi Chain.
Symblox DeFi continues to evolve – 4th version is running and Staking sVLX is open
Symblox was the first DeFi protocol to be built on top of Velas, and currently, they’ve just announced their fourth farming phase and a new product for all Velas $ VLX hodlers.
sVLX Staking – Up to 20% APR
Symblox created a smart contract that allows users of their platform to participate directly in Velas nodes, in four simple steps users convert their VLX to sVLX, and from that point on, they will create Passive reward output increases until they reach 18-20% APR. Here are the main points of the system:
⦁ User sends VLX to smart contract and receives sVLX in return.
⦁ The smart contract created by Symblox distributes the VLX between multiple nodes.
⦁ As time passes, the reward is generated in the Velas nodes, which will pass directly to the sVLX hodler.
⦁ Longer staking time means more rewards at the time of withdrawal.
⦁ When the user decides, he will be able to switch back from sVLX to VLX and will be at that point when he sees the reward received (with a waiting time of 6 to 9 hours, the time) on Velas Network)
⦁ Optionally, the rewards generated in sVLX can be distributed in a number of liquid groups, potentially multiplying profits! (It must be considered that joining liquidity pools there is a risk of impermanent loss.)
Next up in the upcoming Velas Ecosystem – BitOrbit, the decentralized social platform
After building a fast, interoperable blockchain with virtually non-existent transaction costs, the Velas team has focused on developing products that crypto and non-crypto users can used to enhance their digital life.
The first to see the light will be BitOrbit in late March. BitOrbit aims to be a true alternative to traditional social networks, adding cryptocurrency functions like payments, private groups or built-in apps. Syncing contacts with Telegram and incorporating video feeds at the same time makes the migration less expensive and more engaging, by combining and improving functions that don’t exist in the app. Current Telegram.
Contact Info:
Velas Website: https://www.velas.com
Velas Telegram Community: https://t.me/velascommunity
VelasGithub: https://github.com/velas
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