Traditional asset management platforms since inception, have been fraught with scams and corruption. There have been reports of asset managers manipulating funds put in their care, carrying out illegal trades and some even indicted for insider trading, all of these putting investors' hard earned money at risk and most times culminating in loss of investors' capital.
Cryptocurrencies are at the forefront of a new digital economy and the world is crying out for a decentralization of the global access to wealth.
In recent years, the crypto-finance ecosystem has been a hot topic as it continues to boom despite the backdrop of poor security practices.
Trading activities are at an all time high, leading to more and more wealth being stored in cryptocurrencies, so crypto asset management services are now leveraging smart contracts on the immutable Blockchain to offer tokenized platforms for safe and profitable investments into cryptocurrencies.
The Velic Platform however, has left all other Crypto Assets Management platforms behind in a bid to seamlessly incorporate the traditional finance industry into the Blockchain technology.
The Velic Platform delivers a complete ecosystem that brings very vital financial services within the reach of all cryptocurrency holders.
These services include a high-performance digital assets exchange, ability to secure loans collateralized by crypto assets, a high-grade security vault for safe storage of cryptocurrency assets and professional-standard asset management services all powered by state-of-the-art security measures that guarantee utmost safety of platform users assets.
Due to monumental return on investments witnessed in the past, digital assets have become a must-have in most people's investment portfolio despite the risks inherent in the crypto trading sphere.
Most investors run into crypto trading unprepared without the right tools to monitor the volatile markets and eventually end up throwing lots of funds into underperforming projects that tend to fizzle out with time.
Velic Asset Management will be a powerful tool in the hands of crypto investors that will give them real-time access to premium information sources and expert analysis on all tradable tokens that will help them in making the right investment decisions and identifying the best projects to invest in.
The Velic Asset Management platform will support 2 categories of investment products : the active and passive products
The passive investment products offer professionally designed indices that will enable investors inexpensively diversify their crypto portfolio across an assortment of assets, thereby greatly reducing the risks associated with being tied to one crypto asset.
While the Active investment products will involve Investment Managers who would also utilize machine learning and Artificial intelligence to finetune the investment manager's investment experience to yield high returns. This investment product will be best suited for investors with higher risk tolerance.
These asset management products will be available for trading on the Velic Exchange, they can be securely stored in the Velic Vault and can also be used to secure loans on the platform.
Cryptocurrencies are underutilised as the payment instruments that they were really created to be. The road to being fully effective begins with the ability to use cryptocurrencies in just about the same ways we utilise traditional fiat in our daily lives.
The Velic platform is onboarding the unbanked to the Cryptoeconomy by allowing borrowers take cryptocurrency-backed loans against stable coins. These loans could be very useful for users who want to get cash advances for urgent expenses and still not miss out on potential gains of leveraged crypto assets.
Platform users who have succesfully completed the Know-Your-Customer/Anti-Money-Laundering (KYC/AML) can apply for a Velic loan by setting the terms of the loan and then transferring the crypto assets to be used as collateral to Velic loan, after which the user receives the requested loan in their Velic account.
Loans taken on the platform at inception will be solely based on collateral and the interests may be paid in Velic tokens VELD & VELT, BTC or any other specified crypto asset. These interests are automatically deducted from the borrower's Velic account balance on the set date for interest payments.
Failure to pay the interest on time leads to higher interest charges or complete liquidation of the provided collateral.
Due to the volatility of the Crypto markets, the collateral may fall in value, when this happens, a margin call is made for the borrower to pay an additional collateral, failure to do this within the stipulated period leads to liquidation of collateralized assets.
Velic loans can be repaid on or before the expiry date through the user's Velic account balance or by deciding to liquidate the provided collateral.
Cryptocurrency assets and exchanges have been common targets of theft, hacking and various malicious attacks. From the monumental attack on Mt. Gox in 2014,the exchange with the largest trade volume at the time, to the most recent attacks on Cryptopia, it goes without saying that asset security is a cog in the crypto space that must be pulled out if cryptocurrencies are to receive the global adoption that we all have been clamouring for.
The Velic Platform has employed the most exacting and stringent security standards in the Velic Vault to ensure absolute safety and security of user crypto asset keys while maintaining a sufficient level of trust and integrity.
Shamir's Secret Sharing scheme ensures that a user's private key is not kept in sole custody of Velic but divided into parts that are shared by separate storage nodes, this means the key can only be reconstructed when all the storage nodes come to mutual agreement and give their parts of the disintegrated key to the user on request. This process is near-instantaneous and does not require the user to wait days for access to their private keys.
In essence, Velic only gives an extra layer of encryption to the divided parts of the key but does not maintain any copy of the private keys, making it impossible for Velic to tamper with customer assets.
The Velic Vault on its own has powerful utilities and i see it becoming a tool that can be offered to wallet providers, ICOs and crypto exchanges as a service for professional handling of their customers crypto assets.
The Velic Exchange will be a full-fledged cryptocurrency exchange that will enable traders and investors alike to deposit, withdraw and trade all listed crypto assets on the exchange which can be cross-traded with the native Velic tokens, VELT, BTC, ETH and USDT and ultimately other pairs in the near future.
The Velic platform coins, VELT and VELD, will be paired against listed currencies to ensure a healthy market exists between the crypto pairs and the more volume generated means a higher value for the Velic coins.
Velic Exchange users can rest easy in the knowledge that Velic's priority is the most critical component in the crypto space, which is security of user assets and user accounts.
It is also worth noting that the Velic Exchange will be fully Know-Your-Customer / Anti-Money-Laundering (KYC /AML) compliant in order to ensure that the platform is not utilized for malicious purposes.
The Velic Exchange will be fully utilizung the Blockchain technology to provide a multitude of unique features which include professionally supervised Over The Counter (OTC) trades, increased publicity for new tokens listed on the exchange and give traders an opportunity to trade these newly listed tokens.
The Velic Platform houses 3 distinct tokens :
a) Velic Tokens (VELT)
The VELT tokens are the fuel that power the Velic Platform and bring all Velic components together. Users acquire VELT tokens by actively trading on the Velic Exchange and paying for services on the Velic platform, these VELT holders can then be entitled to fee reductions in various Velic services so users are motivated to trade more frequently and purchase more services.
Measures however have been put in place by Velic to apply daily limits on how much VELT a user can mine based on their platform activity so that users cannot manipulate VELT token price.
b) Velic Authority (VELA)
VELT holders on the platform can convert their VELT to VELA tokens at a 1:1 conversion rate using the internal Velic converter. Users who hold VELA long-term on the Velic Platform are compensated with a share of profits realised from users trading charges on the Velic Exchange.
The more VELA tokens a user holds or "stakes" on the Velic Platform the more payments they're entitled to receive.
c) Velic Dollar (VELD)
The price volatility of Bitcoin and all other alternative coins is a major reason cryptocurrency traders convert their assets into stable coins at the slightest turbulence in the crypto market.
VELD is Velic's own proprietary stable coin that greatly lowers the risk for the holder and sustains its price stability by linking to other stable coins.
In the future, VELD will be used for cross-conversions between other stable coins and will be spent just like every other stable currency due to the fact that it won't be affected by price dips in the market.
Digital currencies and the Blockchain technology as a whole were created to end the tyranny of traditional financial markets but getting there has not been an easy task.
Velic however has taken a bold step towards filling this vacuum that has long alienated currently existing financial markets from the fast developing crypto sphere.
Velic ensures that all platform activities are carried out in utmost fairness and transparency by applying the Blockchain technology and utilizing smart contracts thereby gaining complete customer confidence.
Velic started 2019 on a strong note by being featured on Nasdaq, also announcing partnerships with Korean Blockchain giant ICON and DEBLOCK Venture Capital Blockchain project accelerators.
I believe the world is tired of the market entry difficulties experienced in traditional financial markets and Velic has shown that they are a worthy alternative to look to.
Velic holds so much promise for the future and I am eagerly looking forward to what comes next from this disruptive platform.
Get updated with information about Velic and Connect with the team on Social Media
Website: https://www.velic.io/
Whitepaper: https://man.velic.io/VELIC_Whitepaper.pdf
Facebook: https://www.facebook.com/velicfinancial
Twitter: https://twitter.com/velicfinancial
Telegram: https://t.me/velicfinancial
Bitcointalk ANN Thread : https://bitcointalk.org/index.php?topic=5087822.0
Medium: https://medium.com/velicfinancial
Reddit: https://www.reddit.com/r/velicfinancial/
Kakao Talk: https://open.kakao.com/o/gkG9IoK
Author's Bitcointalk username: Cryptovixen192
VELIC account email address: [email protected]
