If you are looking for a blockchain platform that offers fast, secure, and low-cost transactions, as well as innovative features such as auto-rebasing, auto-staking, and auto-compounding, then you should check out Vulcan Blockchain.
Vulcan Blockchain is a standalone, EVM-compatible Layer 1 blockchain that enables developers to create and deploy smart contracts and dApps with ease and efficiency. Vulcan Blockchain is also the first blockchain to implement a built-in auto-rebasing mechanism, which adjusts the circulating supply of its native coin, $VUL, every 15 minutes, based on the demand and supply of the coin.
Doing this ensures that the coin maintains a stable and predictable value, while also rewarding holders with passive income.
Also, the blockchain relies on a system of node validators with PoA (Proof of Authority) consensus which enables shorter block times. Vulcan Blockchain is highly scalable and decentralized compared to many other L1 chains with 500 full nodes and 1500 lite nodes to achieve greater security of the network.
Sounds great doesn’t it? But what are these mechanisms and protocols employed by the Vulcan Blockchain?
In this article, we will take a deep dive into the Vulcan blockchain ensuring that by the end of this article, you will gain every knowledge you need to know about the Vulcan blockchain and what makes it so sought after.
Benefits of Vulcan Blockchain
Now that we’ve considered the definition and description of the basic topic, let’s look at some of the benefits of Vulcan blockchain to developers as well as users, engineers, and programmers.
Vulcan Blockchain offers many benefits to developers who want to create and deploy smart contracts and dApps on a fast, secure, and low-cost Layer 1 blockchain. Some of these benefits are:
EVM compatibility: Vulcan Blockchain is compatible with the Ethereum Virtual Machine (EVM), which means that developers can use the same tools and languages they are already familiar with, such as Solidity, to build on Vulcan. This reduces the learning curve and the development time for developers, as they do not need to learn a new platform or framework.
High scalability: Vulcan Blockchain can process up to 10,000 transactions per second, with an average confirmation time of 3 seconds and a low gas fee of 0.0001 $VUL. This means that developers can create and launch dApps that can handle high volumes of users and transactions, without compromising on speed, security, or cost
Reward system: Vulcan Blockchain rewards developers for creating and deploying quality dApps on the platform, by distributing $VUL to them every epoch (15 minutes). This creates a strong incentive and motivation for developers to innovate and contribute to the Vulcan ecosystem.
Web3 support: Vulcan Blockchain supports various Web3 tools and frameworks, such as DappStarter, which simplifies and streamlines the development process. Vulcan Blockchain also integrates with various Web3 protocols and applications, such as Uniswap, Aave, Chainlink, and MakerDAO, to provide developers with more options and opportunities to create and launch their applications.
Other Unique Features
Apart from the benefits it has such as high scalability and advanced reward systems, the blockchain also has several unique features that make it stand out from other blockchain platforms, such as:
Auto-rebasing: This is one major feature of the Vulcan Protocol. Its function is to automatically automatically generate an increased amount of new $VUL coin supply to periodically enter the market.
It simply adjusts the circulating supply of its native coin, $VUL, every 15 minutes, based on the demand and supply of the coin to ensure that the coin maintains a stable and predictable value, while also rewarding holders with passive income.
The amount of interest reward is 44% APR which is fixed for the entire lifetime of the Blockchain.
Auto-staking: Since standalone staking has been hunted down by the SEC over risks such as giving up control of assets, locking assets for a managed time, and 3rd party measures, the team at Vulcan has managed to create something huge to jump over this problem.
Vulcan’s auto-staking protocol automatically stakes and compounds the interest of $VUL holders every epoch (15 minutes), increasing their ownership of coins over time. This means that holders of $VUL can earn interest on their coins without having to lock them up or stake them manually.
Simply holding $VUL in any hot or cold wallet address, automatically entitles the user to yield stakes in an open and trustful way, granting the user complete freedom to do as they wish with their funds at any time.
Auto-Compounding: This feature was specifically developed to combat the issues faced with traditional banking which holds back true earning potential when a comparison is drawn between it and what is possible with cryptocurrency.
Since banks hardly provide any form of ‘acceptable’ interest rate, Vulcan Blockchain steps in to provide a sustainable fixed Auto-Compounding rate at 55% APY which equals the rate of 44% APR compounded throughout a full 365-day cycle.
Vulcan Blockchain’s Stats and Progress
Since its inception, the blockchain has achieved various milestones that have made it development and outreach into the vibrant web3 ecosystem which includes, but is not limited to its various testnet launches and partnerships/
Here are its major updates and statistics over the years:
Testnet launch: Vulcan Blockchain has launched its testnet, which has been running smoothly and successfully since December 2022. Vulcan Blockchain has also onboarded over 500 node validators, who are securing and validating the network.
Mainnet launch: Vulcan Blockchain has also completed its mainnet launch, in the first quarter of 2023. It is also constantly improving and upgrading its technology and features, to ensure that it delivers the best performance and user experience.
User base: It has attracted over 100,000 users, who are holding and trading $VUL on various exchanges and platforms. It has also created and cultivated a loyal and engaged community, who are supporting and promoting the platform.
Partnership with Assure DeFi: It has partnered with Assure DeFi, a leading verification platform for blockchain projects, to provide security and trust for its network and community. Assure DeFi will conduct KYC verification for node validators and dApp developers, as well as audit and monitor the network for any vulnerabilities or anomalies.
Partnership with DeFi Marketing: The firm has also partnered with DeFi Marketing, a leading marketing agency to provide branding, content, social media, PR, and community management services for Vulcan Blockchain, as well as help with strategic partnerships and collaborations.
Skyway Partnership: It has partnered with Skyway, a gaming development portal that provides gaming services and experiences for blockchain platforms. The partnership will help Vulcan Blockchain developers to create and launch various blockchain-based games, such as Cosmic Force, a retro game produced by the same game development company.
Tokenomics
$VUL Supply (read the latest here)
Max Supply: 375 Billion coins
Total Initial Supply: 330 Million
Treasury: 33,000,000 (10%)
Sacrificed for VUL: 25,037,427
Total Burnt/Unclaimed: 271,962,573
Total Circulating: 58,037,427
Total FirePit Start: 82.4%
It has a max supply of 375,000,000,000 $VUL, a total initial supply of 330,000,000 $VUL, and a total coins circulating of 60,043,144 $VUL.
Vulcan Blockchain also has a treasury of 33,000,000 $VUL (10%), which is allocated for liquidity, marketing, grants, and other purposes. It also has a unique burn mechanism, known as the Fire Pit, which burns 80% of all transaction fees from the circulating supply forever.
See also: How To Buy Metal Blockchain (METAL) in 5 Easy Steps
Vulcan’s Fire Pit
The Fire Pit, also known as the Vulcan Blockchain’s true burning mechanism, the continual burning of coin supply into the Fire Pit offsets the inflation caused through rebasing and therefore makes the $VUL coin deflationary.
For instance, similar to how printing more of an asset (like money or tokens) can decrease its value, and similar to how too many copies of a baseball card make each card less special, Vulcan aims to solve this inflation by burning a major amount of its tokens.
The solution proposed is to burn a portion of the tokens with each transaction.
This burning is like taking those baseball cards out of circulation, making the remaining ones more valuable (deflationary). They call this process The Fire Pit.
Vulcan’s Power Pool
According to the Vulcan blockchain official whitepaper, Vulcan offers the PowerPool which is a 30-day cumulative total of unclaimed daily Flex rewards. This ensures that rewards are not lost and can be claimed at a later date, encouraging continued participation in the ecosystem.
Dapps Built on the Vulcan Blockchain
- VulcanTrace
- VulcanBridge
- OOXYSwap
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VulcanTrace
VulcanTrace is a block explorer built for Vulcan Blockchain similar to Etherscan or BSC Scan. The block explorer allows users to search through transactions, blocks, wallet addresses, smart contracts, and other on-chain data. One can simply query transaction data using TxID, and wallet info using wallet address.
The block explorer allows users to search through transactions, blocks, wallet addresses, and smart contracts using specific details like TxID, and wallet info using wallet address.
VulcanBridge
VulcanBridge is a cross-chain bridge that connects Vulcan Blockchain with other blockchains to enable users to transfer their assets and tokens between different blockchains, with low fees and high security.
This bridge serves as a bidirectional transfer of VUL-20 / BEP-20 tokens in a quick and cost-efficient way
OOXYSwap
OOXYSwap is the native decentralized exchange (DEX) built on the Vulcan blockchain and a powerful tool for the trading of paired tokens on the Vulcan network.
Paired with the $OOXY token, the native token of the exchange, the DEX will provide users access to all of our products in one place making it easier for transactions.
Final Words
The Vulcan blockchain offers a glimpse into a future where creators and users hold the reins, especially with the introduction of BARS technology. It is a highly sought-after chain not just due to hype but also due to its commitment to user empowerment and a sustainable economic model.
Vulcan Blockchain is not just a blockchain, but also a firestorm. Join the Vulcan Blockchain community today and embrace the flames.
You can start by heading over to their website at VulcanBlockchain.com