Having a token allows you to create a network effect around your product, people who hold this token will have a vested interest and prefer your product over alternatives. They will be your biggest advocates, they will shill your product to all their friends, who will jump on the band wagon, and do the same to their friends... and on and on. Or maybe not...
However, every ICO projects have a sort of token back up that they sell and in return receives money for development of there project or further development of there project in a situation whereby the project as got an existing Product and just need to raise a minimum sum .
The Question is which ICO with a strong token back up is worthy to be selected by an investor or individuals, with millions of ICO projects coming out daily sometimes its very difficult to predict which project will be a success . The fundamental value of most of the tokens is based on their utility, yet owners still can’t use them, and token owners can only speculate short term or hold them in hope that they appreciate. They put their faith in narrative white papers that are in line with current hype trends and hugely ambitious in their promises.
Many tokens with such huge promise ended up falling by the way side and hence worthless, spam or Dead ICOs here and there swarming the cryptocurrency market are a thing of concern, for a good project, the services and value provided by the token must be useful, innovative, and able to really solve users’ need. Vena Network project with its Vena Token is an enigma to behold standing tall amongst all.
Furthermore, the real value of a project is not of an idea or a theory; it emerges through the team’s ability to formalize and iterate on complex concepts and to learn with trial & error. This includes testing different models, listening to feedback, adapting accordingly, and moving quickly. Vena Network, have ambitious goals which will enable them to set new standards for the financial Market. To achieve this goal a strong Team is built with all the necessary skills, financial risk management, strategic focus on technology development, effective roadmap, cooperative partners and competitive interest rates, Vena Network will certainly gain edges over its competitors. Most of the team members on Vena Network have verified profiles. This is all good because the more transparency a company have in regard to their team, the more trustworthy they typically are.
Users who hold more than a certain amount of VENA Tokens are automatically upgraded to different levels of VENA VIP membership, enjoying interest-free lending, unsecured lending, higher interest rate returns and other different levels of benefits.
Users borrowing money with VENA Tokens as collateral can enjoy discount, and obtain higher loan-to-value ratio and lower liquidation limit.
VENA Network team will issue ERC20 token based on Ethereum blockchain and the initial issue volume of VENA Tokens is 1 billion, a certain number of additional tokens shall be issued every year.
NOTE: This article is just a guide to potential clients, stakeholders and everybody itching for a snip of this wonderful project and its published regarding bounty campaign. I am not a project team member or its representative but a supporter of this incredible project. The whitepaper will provide an in-depth and thorough analysis of this wonderful project. You can click on the link below and find out more about this wonderful project.
Website: http://vena.network/en
Whitepaper: http://whitepaper-en.vena.network/
Telegram: https://t.me/vena_network
My Bitcointalk profile link - https://bitcointalk.org/index.php?action=profile;u=2191289
ETH ADD: 0x99244A7e7CA83214902656040C48a5F90D86C45c
