In the first quarter of 2023, Vulcan Blockchain will release its novel auto-rebasing Layer 1 protocol. The long-awaited protocol’s primary goal is to mitigate threats to market stability that originate on the supply side. This is exemplified by the Auto-Rebasing mechanism built into the Vulcan Blockchain, which rebalances the supply of $VUL (the native coin) every 15 minutes.
Vulcan, which takes its name from the Roman god of fire and forge, uses groundbreaking blockchain innovation. A blockchain’s unique ability to rebalance its coin supply is known as “Auto-Rebasing.” This can be a useful tool for ensuring the long-term viability of the local currency and its value, as well as for establishing a more transparent and predictable monetary policy.
As a holder of $VUL on the Vulcan Blockchain, your holdings will grow with each epoch thanks to Auto-Compounding.
Jason Matthison, COO of Vulcan, said: “In addition to providing stability, an Auto-Rebasing blockchain can also help to provide greater transparency and predictability.”
“By clearly outlining the rules and conditions under which the supply of tokens will be adjusted, an auto-rebasing blockchain can give users and investors a better understanding of the monetary policy of the network. This can help to increase confidence in the network, making it more attractive to users and investors,” he added.
The “Fire Pit” burn mechanism is an additional feature of the Vulcan Blockchain alongside its Auto-Rebasing and Auto-Compounding functions (a null address). The Fire Pit receives 80% of all network transaction fees and permanently destroys the circulating supply of coins by burning them. Over time, this feature will allow $VUL to become hyper-deflationary and a reliable store of value cryptocurrency.
Because of its many advantages and its dedication to decentralization, the Vulcan Blockchain is a great place to run DeFi applications. Anyone interested in DeFi’s future, be they users, developers, or investors, is welcome to join the Vulcan Network on its exciting journey.
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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