Vulcan Blockchain reveals its novel auto-rebasing Layer 1 protocol will launch in Q1 2023

Vulcan Blockchain reveals its novel auto-rebasing Layer 1 protocol will launch in Q1 2023

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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.

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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.

Source: https://zycrypto.com/vulcan-blockchain-reveals-its-novel-auto-rebasing-layer-1-protocol-will-launch-in-q1-2023/