Verum, Polkadot’s first truly deflationary cryptocurrency comes to BSCstarter
Following every transaction of VERUM, 3% of the total coin supply will be burnt
The Polkadot blockchain is currently one of the most talked-about and anticipated projects in crypto right now, and for good reason.
The main aim of Polkadot is interoperability, a true interaction between multiple blockchains. Polkadot will be able to process transactions across multiple chains, simultaneously, and allow the creation of custom chains that can quickly connect to the network, such as the highly anticipated Moonbeam Network.
Despite the fact Polkadot hasn’t deployed its mainnet, new and existing projects are queuing up to make the innovative blockchain their home. However, with DOT yet to go live, many are having to find interim solutions to launch and start to build their projects. Some, such as Super Farm have chosen Binance Smart Chain as an interim home, while others, such as PAID Network, have chosen Ethereum.
Verum is the latest to join the Polkadot ecosystem, and like SUPER, has chosen to launch its token on BSC in the meantime — with its first public IDO on BSCstarter.
What is Verum?
VERUM is currently the first, truly deflationary currency on the Polkadot chain and is aiming to go live on the Moonbeam/Polkadot parachain in Q2 2021. As the project will initially be launching on Binance Smart Chain, all VERUM holders will be able to receive a 1:1 swap to the new Moonbeam VERUM token when it is deployed on Polkadot.
VERUM token has been designed as deflationary to be both a store of value and a hedge against inflation. The 3% token burn mechanism that makes VERUM deflationary is automated by a smart contract and will take place every time a VERUM transaction occurs. Once the smart contract is deployed and the burn function is initiated, it cannot be stopped.
By Q2 2021 Verum Protocol are planning to roll out both liquidity farming and staking for VERUM token holders, amongst many other things. Roadmap below:
The team behind VERUM are a group of Cryptocurrency enthusiasts from a reputed Fortune 500 company based in the US, and a former developer of Wanchain, with backgrounds in blockchain development and cloud services, with a specialism in the development of DEXs and Substrate web applications. Due to many of the team working with a highly recognised Fortune 500 company, they have chosen to remain anonymous to avoid conflict of interest accusations in the workplace.
The VERUM team have raised approximately $65k in a private sale to investors. Tokens were sold at the same value they are being offered in the BSCstarter IDO of 0.0133 BNB, with a 10% bonus. 25% of private investor tokens will be unlocked on Pancake Swap listing, with a further 25% unlocked each month thereafter.
Tokenomics
Total supply: 300,000 VERUM
Initial market cap: $384k
- Team Tokens — 21,000
- Presale — 112,500
- Marketing — 15,000
- Pancakeswap Liquidity — 22,500
- Ecosystem Rewards — 111,000
- Parachain Development — 18,000
Following guidance from the BSCstarter team and to instill confidence in their project, VERUM have agreed to various token locks:
Team lock: https://bscscan.com/tx/0x74c5223174d8a96eb1e034ad63786c5c1744794950b5fc7b7030b5610c1a8f6f
Parachain dev lock: https://bscscan.com/tx/0x619ac5df670daa01787ca89e2861b8657ab44508e6228fafa89bc94c67a477d3
Ecosystem/LP rewards lock: https://bscscan.com/tx/0x4ade5532be8bcb83c4d664a0373d84990ae1680d133b4099f7572bd0a7538fe3
IDO Details
93,750 VERUM will be offered as part of the sale at a price of 0.0133 BNB per token.
Start date: 07:30 UTC Saturday 3rd April
Softcap: 125 BNB
Hardcap: 1250 BNB
Minimum contribution: 0.50 BNB
Maximum contribution: 5BNB
IDO price: 0.0133 BNB/Token
Listing price: 0.0200 BNB/Token
Liquidity allocation: 33%
Liquidity locked: 365 days
Learn more about Verum Protocol
BSCstarter
✉️ Telegram: https://t.me/BSCstarter
🐦 Twitter: https://twitter.com/BSCstarter
🔊 Announcements: https://t.me/BSCstarter_announcements
🚀 START Contract: https://bscscan.com/token/0x31d0a7ada4d4c131eb612db48861211f63e57610
Secure community governed token presale platform for #BinanceSmartChain $START https://BSCstarter.finance
