Velix.ID— a RegTech Blockchain startup working in the Identity Verification Space — is proud to announce the integration of the Bancor Protocol with its ecosystem.
Bancor is a token liquidity network that allows for one token to be exchanged for another without requiring any counterparty or a buy or sell match.
These transactions are made at an algorithmically calculated price and ensure continuous liquidity that ensures a better experience for traders.
Manav Singhal, CEO of Velix.ID, said of the development, “The Velix.ID ecosystem is meant for the sole purpose of secure and efficient transaction of verified identities, and the businesses reward their customers on the platform using VXD tokens. We understand that our business use case may not fit all consumers, and they may not need the tokens to verify identities further. As such, it makes sense for them to have the option of converting their VXD tokens into other currencies. This integration with the Bancor network will provide the Velix.ID ecosystem participants an easier method to liquidate their tokens.”
Velix.ID will activate a Token Relay with 3 percent of its total circulating supply within 4 weeks of the completion of token sale.
Velix.ID is a platform to enable frictionless identity verification across the globe. It allows for a seamless exchange of verified identities between businesses & organizations near-instantly, with the explicit consent of the User, that can be obtained in real-time. Utilising blockchain technology, Smart Contracts, Zero-Knowledge Proofs, and Stellar Consensus Protocol (SCP), Velix.ID is building an ecosystem that optimizes time & cost resources for both businesses and consumers to their maximum potential.
The Bancor Protocol is a standard for the creation of Smart TokensTM, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.
Also, as an update, we are introducing a new slab structure to Velix.ID token sale –
The Velix.ID token sale is LIVE. Sign-up now on account.velix.id to invest in the sale. 5% Bonus for the first 24 hours of creating an account!
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