December 28, 2022, Tallinn, Estonia: Vulcan Blockchain has just announced that its’ novel auto-rebasing Layer 1 protocol will launch in Q1 of 2023. The protocol, which has been under development for some time aims to balance supply side issues affecting market stability. In this vein, the primary key feature of the Vulcan Blockchain is its Auto-Rebasing mechanism, which adjusts the circulating supply of $VUL (the native coin) every 15 minutes.
Vulcan, named after the god of fire and forge, features unique never before seen blockchain technology. Auto-Rebasing is a unique feature that allows a blockchain to automatically adjust its supply of circulating coins. This can be an important tool for maintaining the stability and value of the native coin over time, as well as providing a more predictable and transparent monetary policy.
The Vulcan Blockchain is also Auto-Compounding, which means that as a holder of $VUL, your ownership of coins increases with each epoch.
“In addition to providing stability, an Auto-Rebasing blockchain can also help to provide greater transparency and predictability,”
said Jason Matthison, COO of Vulcan.
“By clearly outlining the rules and conditions under which the supply of tokens will be adjusted, an auto-rebasing blockchain can give users and investors a better understanding of the monetary policy of the network. This can help to increase confidence in the network, making it more attractive to users and investors,” he added.
To add to its Auto-Rebasing, Auto-Compounding capabilities, the Vulcan Blockchain also has a unique burn mechanism, known as the “Fire Pit” (a null address). 80% of all transaction fees on the network are automatically sent to the Fire Pit, which is totally inaccessible and burns the coins from the circulating supply forever. This feature allows $VUL to become hyper deflationary and a trusted store of value cryptocurrency over time.
The combination of these features, along with the commitment to decentralization, makes the Vulcan Blockchain the ideal platform for DeFi applications. Whether you are a user, developer, or investor, the invitation exists to join the Vulcan Network on this exciting journey and be a part of the future of DeFi.
About Vulcan Blockchain
Vulcan Blockchain is the first blockchain with a built-in Auto-Rebasing mechanism, which adjusts the circulating supply of $VUL (the native coin) every 15 minutes. The Vulcan Blockchain is also Auto-Compounding, which means that as a holder of $VUL, your ownership of coins increases with each epoch. The combination of these features, along with the commitment to decentralization, makes the Vulcan Blockchain the ideal platform for DeFi applications.
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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