VeleroDAO

The economy of VeleroDAO is based on the balance of its two key elements. We have already written about USDV, the first stablecoin for Velas blockchain, whose exchange rate is pegged to the US dollar. The second key element of the VeleroDAO economy is the platform’s native token, VDGT. Its MakerDAO counterpart is MKR, a utility token that helps maintain the balance of the entire system. Unlike USDV, the governance token does not have a fixed rate, and its value grows along with the platform’s value. Also, its growth is promoted by the mechanism of its burning.

What is VDGT?

VDGT is a governance token and a source of recapitalization of the VeleroDAO protocol. Velero is a smart contract platform built on top of the Velas blockchain, whose economy is based on the USDV stablecoin. The idea of the project, built on the principle of a Decentralized Autonomous Organization (DAO), is to create stability in the world of decentralized things. This stability is implemented through the VRC-20 standard VDGT token, which allows it to use this token in Velas-compatible wallets (today, these are Metamask and Velas Wallet).