Volans (VOL) ICO Review – ICO Token News
Investors do not use cryptocurrencies as a payment option due to their high market volatility and unpredictable price changes. In addition, cryptocurrencies are facing bans and legal barriers in many countries around the world.
Volans aims to develop a new financial system by combining digital payment technologies with the usage of cutting-edge Ethereum blockchain and different cryptocurrencies.
Volans (VOL) Analysis
What is Volans all about?
It is a decentralized financial and credit payment system that gives users around the world an excellent opportunity to pay bills and purchase goods with cryptocurrency assets or fiat currency. This user-friendly payment service platform ensures safe storage of cryptocurrency. In addition, it will enable users to instantly receive credits due to Ethereum blockchain technology.
Modules of Volans system
This payment platform consists of following system modules:
- Online payment.
- Transfer protocol.
- Near field communication (NFC).
- Debit card.
- Credit card.
- Credit rating.
- Loyalty program.
- Cashback program.
What does Volans aim to be?
The core development team behind this project aims to build a decentralized payment platform. The payment for goods or services in either cryptocurrencies or fiat money in this platform will only take a few seconds due to the cutting-edge and state-of-the-art contactless payment technology NFC.
Users need to select a wallet from which the payment will be deduced in order to conduct a transaction within this platform. In addition, they have to bring their device to the payment terminal.
Debit and credit cards will be issued by this platform to help users carry out transactions in a hassle-free manner. Users can exchange cryptocurrency to fiat money and receive cash at ATMs in any part of the world. Other transactions can also be made using cryptocurrency assets with the debit and credit cards issued by this platform.
Thus, this user-friendly payment platform aims to erase barriers between the usage of digital and fiat money. It will also allow users to avoid the complicated and expensive procedures of converting money through traditional banking or credit system.
What problem is Volans solving?
Problems associated with traditional banking system
- The traditional banking system is slow, obsolete, expensive, and inconvenient for both national and international transactions.
- There are so many intermediaries in the chain of the classical banking system.
- Cash storage is extremely unsafe in the traditional banking system.
- The users are exposed to a high inflation risk in the case of an unexpected cash emission, as the traditional banking system has the full and unrestricted rights for establishing all the parameters of the financial system.
- The money can be lost or stolen in case of natural calamities such as earthquake and fire.
Solutions provided by Volans
The use of cryptocurrencies and blockchain in this payment platform has significant advantages for developing a credit and payment system with the state-of-the-art contactless payment technologies.
- Blockchain technology used on this platform ensures that the payment platform is decentralized and secure.
- It allows users around the world to instantly make purchases online, as well as in shops and supermarkets.
- The transaction fees and maintenance costs of this platform will be low as compared to the traditional banking system.
- Users will be able to pay bills and transfer money across the globe without any restrictions.
- Assets can be saved and transferred to the users worldwide using a contactless payment technology without commission and in a few minutes.
Why is Volans a good project?
Low transaction cost
The transaction cost is free for the sender and is about 1% for the recipient in the Volans platform. In the traditional banking system, the transaction cost is 7.45% according to the World Bank.
Transaction speed is fast
It takes upto 3 banking days for the transaction to be completed in the traditional banking system. With this platform, the transactions are carried out instantly (maximum time taken for transactions to be completed in this platform will be 2 hours).
Low maintenance costs
The maintenance costs associated with the traditional banking system are high because of the two levels of intermediaries and banks. The maintenance costs of the platform will be low as the main functionality of the platform has been systematically moved to Ethereum blockchain technology.
Volans (VOL) technology
Blockchain technology is used for the development of this payment platform.
Benefits of using Ethereum blockchain technology in this payment platform are:
- It allows users to carry out transactions online and in shops with minimum commission.
- Transactions are completed in a few minutes.
- Secure and transparent execution of transactions is ensured by this platform for both parties.
- Users can avail an open history of completed transactions and public but still anonymous credit scoring.
- It makes the system tolerant of errors and malfunctions typical to all blockchain applications.
Token price and token sale
VOL tokens will be issued by the Ethereum platform and support the ERC20 standard, which ensures that the integration of the VOL token with popular cryptocurrency exchanges will not be more difficult than other ICO tokens such as Cibus, BunnyToken, Aktie Social, Alttex, THEFANDOME.
- Pre-sale start date: March 5, 2018
- ICO start date: May 5, 2018
- Total tokens created: 19,600,000 VOL tokens.
- Tokens released for sale: 15,680,000 VOL tokens.
- All the unsold tokens will be burned.
- Hard cap for main ICO: 7000 ETH
- Soft cap for main ICO: 1500 ETH
- Price of token (pre-ICO): 1ETH=2240 VOL or USD0.45
- Average price before soft cap: 1ETH= 2160 VOL or USD0.45-USD0.48
- Average price after soft cap is received: 1ETH= 1840 VOL, USD0.48-USD0.63
How to participate in the token sale?
Interested investors can register themselves on website for the pre-ICO sale, with a verified email address.
Distribution of the token
- 80% will be issued to the general public through the pre-ICO and ICO.
- 12% will be reserved for the team and founders.
- 4% will be allocated for the bounty program.
- 4% will be distributed among the advisors associated with this project.
- The initial bonus for early investors during the pre-ICO and ICO sale will be 40%.
Usage of funds
- 35% will be used for development of the platform.
- 35% will be used for marketing and PR.
- 10% will be used for general operating expenses.
- 10% will be used for security and legal issues.
- 10% will be reserved for the team.
This payment platform aims to develop a united payment system for users worldwide. Users will be able to transfer money instantly with a low commission from USD0.01. They can easily convert any fiat or cryptocurrency to other currencies. Money stored in the multi-currency wallet can be transferred to a bank account or credit card. All the transactions are carried out and managed by the users themselves by using this wallet app. The tokens of this platform will be built on Ethereum blockchain technology just like other popular ICO tokens such as Celsius, SkyChain, Altair, Lendo, ABYSS.
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