Whenever we initiate a project, with the vision of starting something great that will not only affect our own lives positively but be a force for good for humanity as a whole, commitment and perseverance are among the attributes that are required of us to see such projects through. Competition in every sphere of business and life is very tough in the modern age, as the big movers continue jostling as to how to maintain market share, while the new startups try to upset the order of things and wrest control from the old guard.
Amidst all this fight for ultimate supremacy, there is a human factor that directly and indirectly affects the balance of things. Greed and fear are very powerful stimulants that often dictate the way we do things and the basis we make decisions. When it comes to startups this fear and often greed of some initiators of these projects often put the investment and trust vested in them by their backers and investors in jeopardy, as they rush to sell-off any stake they are given in the platforms they created. Velix.ID the revolutionary blockchain-based identity verification platform is one of the few startups in this field with the vision of considering even these human tendencies, which is why the platform took the decision that the stake given to the founding team members as well as those held by its private investors will be kept under lock in Smart Contracts for varying periods of time. Some of the key reasons for this decision include:
- Protect Investors: One of the main reasons for the Velix.ID’s decision to lock down the assets of private investors and the founding team members is to protect the holdings of the buying public all over the world that invested in the project. The cryptocurrency world is one that is known for its volatility and often the decision to sell any particular digital asset initiates a chain reaction in the markets which lead to panic sell-offs and a consequential downfall in the value of the asset. Velix.ID wants to avoid such a scenario at all costs and hence its decision on locking the team’s holdings
- Reassuring The Market: Velix.ID and its team of visionary developers seek to reassure the markets and the verification industry as a whole that it is here not just for the short-term, but that it is here for the very long haul. Startups often start with negligible values, but those that show commitment to their cause and the innovation to back it up often reap the rewards of huge appreciation in value with very short periods of time. Velix.ID like the blockchain technology is here to stay and hence its decision to show the world that its team is in no hurry to access their shares of the platform.
The Velix.ID clearly states that its team of developers which will have 16% of the total minted tokens distributed among themselves, will have all their holdings frozen in smart contracts. These assets will then be released in tranches of 25% every 6 months and as such it will take a period of two whole years before the team gets their assets n full, a period when it is hoped the platform is in full swing and has attained both the trust of its partners and the stability it requires as a tradable asset.
Find out more about Velix.ID and our Crowdsale at our site velix.id
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