Velic was developed to become the first decentralized crypto-finance management platform which gives both institutional and financial investors the ease and security they need to surf the cryptocurrency space. Velic platform offers its platform users amazing services that help them to effectively manage all of their cryptocurrency investment.
ISSUES THAT LED TO THE DEVELOPMENT OF VELIC
There are so many issues that have plagued the crypto-finance platforms. The top amongst them is the issue of security. Security is one of the strongest features of blockchain technology, it is almost impossible to hack a blockchain but the same cannot be said about the several decentralized applications built on the blockchain. Most of them are not very well secure and this is why those who make use of it often fall victims to cyber criminals and security breaches.
Also, there is no risk management system enabled for cryptocurrency investors. Many developers and crypto-finance platform owners once they have achieved their desired state in the crypto industry often behave like the world revolves around them. They do not assess the risks that their investors face in their management of their investments and this often leads to loss of investors.
Another issue is Bad User Experience; many investors have generally bad tales to tell about their investment journeys in the cryptocurrency space. Many platforms offer the same or slightly different services but not one single platform offering all the needs of the crypto investor. Also, the volatility in price has also contributed to the reason why many institutional investors have stayed away from the cryptocurrency market.
SERVICES OFFERED BY VELIC FINANCIAL
The following services will be offered to investors upon the successful launch of the platform in early March;
a. Asset management; Velic offers Asset management services for its users whereby it takes charge and, manages users digital assets whilst also ensuring that they are secure
b. Loans services; Velic also gives investors an opportunity to take loans from the platform. In order to access such loans, they would leave their crypto assets as collateral for the loan. This also gives them opportunity to store wealth. Velic charges a very low interest rate for users who take loans on the platform. It is also possible for a user to give loans to another user on the platform and they earn interest on the loans they give out too.
c. Vault services; In order to ensure safety of users and of the Velic platform, Velic has developed its Vault. This vault will be used by a user to store their private keys according to the secret sharing protocol of the vault. This will minimalize the loss of private keys which leads to loss of funds.
d. Investment; Velic will also offer its users different opportunities on the platform after it is officially launched.
e. Cryptocurrency Exchange; . To unite all its services, VELIC will build up an exchange which connects all services together while offering a pathway through which VELIC tokens will be utilized.
The services that are listed above are all available on the Velic platform. In order to access these services, a user will have to own a Velic account.
VELA (Velic Authority)- This token is used as a long term store of value. Users who take part in activities that further develop the ecosystem will be paid based on the amount of VELA they hold.
VELD (Velic Dollar)- This is the stable coin of the Velic ecosystem and it will serve as a constant store of value. VELD serves as a store of value for users within the Velic ecosystem. It is the stable coin of the ecosystem.
CONCLUSION
With Velic, users can now store their funds, access multiple crypto services and manage their investment portfolio form one platform thereby limiting losses. The team behind Velic is a core professional and well knowledgeable team. Velic has also announced partnership with ICON and DEBLOCK which are both strategic investors of the Velic financial project.
For further information, you can visit any of the links listed below;
Official Website: https://www.velic.io/
Whitepaper: https://www.velic.io/web/download/VELIC_White%20paper_V1.01.pdf
AUTHOR'S DETAIL
Bitcointalk Username: Baesboo
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1760137