CDS Crypto News Vulcan Blockchain Announces Auto-Rebasing
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Vulcan Blockchain Announces Auto-Rebasing

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Vulcan Blockchain Announces That the Auto-Rebasing Layer 1 Set Will Be Launched in 2023
Vulcan Blockchain Announces That the Auto-Rebasing Layer 1 Set Will Be Launched in 2023

The Vulcan Blockchain is the first blockchain with a built-in Auto-Rebasing mechanism that adjusts the supply of $VUL in circulation every 15 minutes.

About the Auto-Rebasing Layer1 Set Announcement

Vulcan Blockchain recently announced that the auto-rebasing Layer 1 protocol will be launched in the first quarter of 2023. The purpose of the protocol, which has been developed by the project’s team for some time, is to balance supply-side problems that affect market stability. For this purpose, the primary important feature of the the blockchain is the Auto-Rebasing mechanism, which adjusts the supply of $VUL in circulation every 15 minutes. 

About Vulcan

Featuring a unique blockchain technology that has never been seen before, Vulcan takes its project name from the god of fire and forge. Auto-Rebasing is a feature that allows a blockchain to automatically adjust its circulating supply of coins. This feature can be an important tool for maintaining the stability and value of the native token over time, as well as providing a more predictable and transparent monetary policy. 

Jason Matthison, Chief Operating Officer 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 can give users a better understanding of monetary policy and investors in the blockchain network. This can help to increase confidence in the network, making it more attractive to users and investors.”

In addition to the features of Vulcan Blockchain, Auto-Rebasing and Auto-Compounding capabilities, it has a burn mechanism known as “Fire Pit” (a null address). With this feature, 80% of all transaction fees on the network automatically go to the Fire Pit, which is completely inaccessible and burns coins in circulation. Thanks to this feature, the project’s native token $VUL becomes a hyper-deflationary structure. In this way, it also becomes a reliable cryptocurrency depositary over time. 

About Vulcan Blockchain

The Vulcan Blockchain is the first blockchain with a built-in Auto-Rebasing mechanism that adjusts the supply of $VUL in circulation every 15 minutes. The Blockchain also has Vulcan Auto-Compounding capabilities and a burn mechanism known as “Fire Pit”.

SOURCE

Written by
Burak DANACI

The author focused on financial markets after graduating from Anadolu University, Department of Economics. After meeting with blockchain technology in 2019, he produces content on youtube and twitter in this field.

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