An anonymous team that goes by the name of Super Mises is using the latest DeFi trends in
yield farming and rebasing currencies to experiment with the value of velocity. Their newly
launched VELO token will both serve as a financial experimentation tool as well as the
governance token for the Velotoken DAO.
The latest protocol in DeFi has taken experimentation to new levels. The VELO token
($VLO) can be farmed on Velotoken.fi starting from November 4th, 2020 ending on
December 2nd, 2020. The VELO token is capped at a supply of 100M tokens. After the
farming period is over, no more tokens will ever be released. A unique aspect is that
100% of those tokens are allocated to yield farming allowing for a fair token distribution.
The VELO token will be the first currency in history that rebases its supply not based on
price but based on its own velocity. Once all tokens are farmed, the total supply of VELO
token will only increase or decrease in inverse relation to its velocity, but will never be
more than 100M.
The outcome of this experiment cannot be predicted. The experiment is in the hands of
the token holders. It is up to the community members to play an active part in finding use
cases and defining the future of VELO token.
The VELO token protocol uses the governance protocol from Compound, the incentive mechanism from Yam and the rebasing functionalities from Ampleforth. A unique set of
trusted contracts with a completely new spin.
VELO token specifications
| Property | Value |
| Website | https://velotoken.fi/ |
| Target Blockchain | Ethereum |
| Token Type | ERC20 |
| Asset Class | Synthetic Asset |
| Symbol | $VLO |
| Token Value | None, $VLO has no value on issuance |
| Governance | Decentralized Autonomous Organization (DAO) |
| Source of Yield | Utility, Speculation and Transactions Fees |
| Supply Type | Type Fixed with elastic and invers allocation |
| Supply Quantity | 100’000’000’ $VLO |
| Distribution Type | Fair Farming and Distribution via Staking Pools |
| Distribution Price | 1ct |
| Distribution Duration | 4 weeks |
from Ethereum World News https://en.ethereumworldnews.com/anonymous-team-launches-a-defi-token-to-experiment-with-the-value-of-velocity/
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