What’s next for Verum Protocol?
Following a hugely successful IDO on BSCstarter just five days ago, in which we raised 1250 BNB in just under 6 hours, what are the next steps for Verum Protocol?
We started by deploying the deflationary smart contract; now this smart contract has been initiated, it can never be stopped. Forevermore, 3% of VRM tokens will be burned on every transaction.
Soon after, VRM was launched on Pancake Swap, and the crypto markets have been doing their thing ever since. We are not worried about any price fluctuations, so much so that all team tokens have been locked for an entire year (365 days).
Verify that for yourself here: https://bscscan.com/tx/0x74c5223174d8a96eb1e034ad63786c5c1744794950b5fc7b7030b5610c1a8f6f
Other locks to take note of:
· Parachain development lock: https://bscscan.com/tx/0x619ac5df670daa01787ca89e2861b8657ab44508e6228fafa89bc94c67a477d3
· Staking and LP rewards lock:
With funds successfully raised, marketing efforts have begun to ensure that the world begins to wake up to the first deflationary protocol coming to Polkadot.
We have our first AMA coming up with Crypto Land today (8th of April), and lots of other tasty announcements in the pipeline for the next few weeks — so stay tuned to @VerumProtocol on Twitter and Telegram to be the first to hear great news like this…
Deployment on Polkadot via Moonbeam Network
Besides marketing and development, our next big move will be transitioning from Binance Smart Chain to Polkadot, via the Moonbeam Network Parachain.
The development team is hard at work running through different scenarios and iterations, ensuring we are ready to deploy in line with the expected Moonbeam Network launch in Q2 of 2021.
All VRM holders will be able to transition their token to the Polkadot network at 1:1 value.
Increasing Utility of VRM
As many of you will know, at its heart VRM is a deflationary token, and with the launch just 5days ago, the current utility lies in trading and Pancake Swap liquidity pools.
Next up is staking, with our staking platform set to go live on VerumProtocol.com during Q2 of 2021. DeFi on Polkadot is going to be the next big thing, and VRM, as a token that naturally increases in value over time, is well-positioned to integrate with the bustling Polkadot DeFi ecosystem. Watch this space…
As is natural for all new tokens in the crypto space, we chose to initially launch on the most popular DEX on the network, i.e. Pancake Swap.
The next step will be to bring VRM to new exchanges and new audiences, increasing accessibility via both FIAT and stable coin pairings. But for now, how can you get hold of VRM?
VRM is currently available on the largest DEX on Binance Smart Chain, Pancake Swap. Please find the link to directly trade VRM below, and remember, 3% of VRM is permanently destroyed on all transactions, so make sure to adjust slippage to min 3%!
Remember to verify the VRM token contract address: 0x5ed934d24eba708e04b910d21828bea2dc919246
We have also locked liquidity of VRM tokens on PancakeSwap. You can verify the transaction details here: https://bscscan.com/tx/0x7bcc59f4817634c0c4f71cbdf4ba5cd688feae4028d6b37ce65edaa5ea437108
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What is Verum Protocol?
VERUM is the first truly deflationary currency on the Polkadot chain and is aiming to go live on the Moonbeam/Polkadot parachain in Q2 2021.
VERUM token has been designed as deflationary to be both a store of value and a hedge against inflation. The 3% token burn mechanism that makes VERUM deflationary is automated by a smart contract and will take place every time a VERUM transaction occurs. Once the smart contract is deployed and the burn function is initiated, it cannot be stopped.
The team behind VERUM are a group of Cryptocurrency enthusiasts from a reputed Fortune 500 company based in the US, and a former developer of Wanchain, with backgrounds in blockchain development and cloud services, with a specialism in the development of DEXs and Substrate web applications. Due to many of the team working with a highly recognised Fortune 500 company, they have chosen to remain anonymous to avoid conflict of interest accusations in the workplace.