VNX Community Hub tokens to LFG launch

Intro:
The VNX Community Hub app is created to facilitate the DeFi adoption of VNX stablecoins.
To empower the community to shape the future development of VNX stablecoins and earn on its development, VNX tokens are launched by VNX Community.

While the VNX Commodities (https://vnx.li) issues the CHF & EUR stablecoins and the tokenized gold, the Community decides how they are distributed in DeFi via the VNX Community HUB app. Users who stake the VNX token can vote on critical decisions, including but not limited to token distribution, rewards allocation, and management of gauge controller, etc.

VNX stablecoins are issued by VNX Commodities with licenses from the Liechtenstein Financial Market Authority (FMA) and compliance with the upcoming EU Markets in Crypto-Assets (MiCA) regulation. VNX stablecoins are backed by assets that are audited by third party independent auditors on a regular basis.

Stablecoins are multichain, currently supporting Avalanche, Ethereum, Polygon, Q, Solana, Stellar, Tezos. Besides wide availability in DeFi, VEUR and VCHF are available on Bitstamp, XT, LBank and Emirex. Recently VNX became the first European regulated company to to run non-usd stablecoin price oracle on Pyth.

As cross-border payments, crypto payments and traditional merchants are joining crypto space, we focus on collaborations with traditional financial institutions and real-world use cases (e.g. VCHF was recently approved for capital contribution when establishing a legal entity in Liechtenstein, we’re currently listing our tokens in a large Swiss bank in collaboration with one of our partner-blockchains, this will be announced as soon as it goes live in the nearest weeks) and thus we help bridge the gap between traditional financial systems and DeFi, e.g. bringing developed liquidity in our stablecoins (pools with volatile assets, lending/borrowing, collateral for minting and CBDC, structured products) in collaboration with largest LP providers and Marketmakers (e.g. Cumberland, Keyrock, B2C2).

Our key goal is to make VNX a #1 non-usd Stablecoins issuer.

VNX Token:

The VNX token, launched through a Liquidity Bootstrapping Pool (LBP), will be the foundation of the VNX Community Hub. It can be bought, sold, traded, staked, and used for voting power to make key protocol decisions. Staking also boosts yield returns when providing liquidity in community pools and vaults.

The VNX Community Hub app solves the liquidity problem of non-usd stablecoins, particularly VEUR and VCHF stablecoins and other cryptoassets that may be paired with them. The developed liquidity of non-usd stablecoins will help to create an FX markets in DeFi, which is becoming mainstream.

The app also solves the problem of adopting institutional and private users from Europe, as the euro and franc are local payment currencies and corporate accounting currencies for them.

The app solves the liquidity problem of tokens of various projects, who can submit a proposal to vote so that pools with tokens of their projects can be added to the gauge controller and start receiving incentives.

The app attracts private and institutional investors in DeFi.

Value

As FX and real-world transactions tend to grow in the crypto space, we bring more real-world fiat transactions onto Solana blockchain.

As a non-usd stablecoins issuer we offer diversification for Solana users looking to hedge against different fiat currencies. We have a proven track record in developing markets within the DeFi space, creating pools with volatile and stable assets and we have experience in stimulating markets, attracting TVL, and fostering organic trading volumes, and we already contribute to the growth of the DeFi ecosystem on Solana.

As cross-border payments, crypto payments and traditional merchants are joining crypto space, we focus on collaborations with traditional financial institutions and real-world usecases (e.g. VCHF was recently approved for capital contribution when establishing a legal entity
in Liechtenstein) and thus we believe we can help bridge the gap between traditional financial systems and DeFi on the Solana blockchain.

How the product collaborates with the Jupiter & Solana

VCHF and VEUR are already integrated into Solana, with pools on Orca and Raydium, vaults on Kamino, Hawksight and Armada.

The main exchange operations are carried out through Jupiter.

The VNX Community Hub and VNX Token is being created to attract the community, projects and developers to the development of VNX markets in DeFi, increase liquidity, and the number of DeFi integrations. The preliminary target TGE date is early August 2024.

For Solana users and applications, this will provide liquidity with regulated stablecoins from Europe, connection with European banks, and also a will create a channel to attract liquidity from European private and institutional clients.

Overall, this will help develop the FX market, which is already attracting various types of transactions and is the next big thing. Jupiter, with its limit orders and the ability to use all liquidity on different DEXs, will become one of the main beneficiaries of this FX Market.

Besides that we develop traditional finance usecases, e.g. collaboration with Sygnum Bank - large traditional Switzerland bank, signed agreement with largest marketmaker Cumberland, developed a case for capital contribution in VCHF & VEUR in Liechtenstein when establishing a legal entity.

Besides that we tend to develop more partner relations with blockchains we work with, e.g. we have elaborated joint case with Solana to incentivise capital contribution in our Stablecoins - when establishing a legal entity in Liechtenstein one can contribute capital in VNX stablecoins, with support of Solana client now will receive a top-up of 500-1000 EUR.

To mention notable achievements reached with Solana, Both VEUR and VCHF are in top 100 tokens on Solana now (Top Solana Ecosystem Tokens by Market Capitalization | CoinMarketCap), and in March 2024 VEUR became the most traded Euro stablecoin on Solana.

More information on VNX stablecoins presence and stats can be found on Dune Dashboard: https://dune.com/vnx/vnx-stablecoins

Most notable VNX achievements can be found also on the web-site:
VNX 2023 Recap

Vision Category

We at VNX, with VEUR & VCHF stablecoins along with leading market makers like Cumberland, as well as partner banks in the EU, are building a crypto-based FX system.

This system aims to simplify international transactions and FX access, making it cheaper and seamless. Developing such model is solving the chicken-and-egg problem: to make stablecoins widely used and have high liquidity, use cases are needed. At the same time, use cases demand liquidity. Goal of VNX Community HUB launch is to deepen the liquidity and thus shape the ground for the use cases growth, which will boost the liquidity in it’s turn, and we will be able to launch this snowball to run.

While many projects expect immediate success by implementing doubtful mechanics, which can undermine user trust and erode confidence in the entire crypto space, we, that believe successful business development is an outcome from numerous small steps and innovations, giving vomprehensive value to the users, and we are happy to see other teams following such approach.

Team:

The core team member profiles with LinkedIn links are disclosed on our web-site: VNX

  • Alexander Tkachenko, CEO and Founder
    (link to bio)

  • Mikhail Epishkin, Head of BD and DeFi, A decade of experience as Chief Sales Officer of Private Banking at Eastern European major banks, including six years of experience in entrepreneurship, DeFi enthusiast
    (Linkedin https://www.linkedin.com/in/mikhail-epishkin-15a43b2a/)

  • Eugene Gavrilov, CTO
    Two decades of IT experience in leadership technology roles at the largest Eastern European stock exchange and premier global investment organizations: Troika Dialog and Deutsche Bank
    (Linkedin https://www.linkedin.com/in/eugenegavrilov/)

  • Siegfried Herzog, Member of the Board and Compliance Officer
    Entrepreneur, Lawyer and Compliance Expert. Speaker and compliance service provider for small and mid-sized Financial Intermediaries having a strong focus on regulatory developments and Blockchain industry.
    (Linkedin https://www.linkedin.com/in/siegfried-herzog-b380368b/)

  • Dr. Thomas Feldkircher, MEMBER OF THE BOARD, PhD, attorney at law, CEO of a consulting agency. Trusted advisor to global financial and technology enterprises, offering expertise in FinTech, DLT, Blockchain, specializing in M&A, PE and regulatory matters, backed by a decade of experience
    (Linkedin: https://www.linkedin.com/in/dr-thomas-feldkircher-7a6a41164/)

Besides mentioned members we have a full packed IT and Business Development teams that have all necessary competences and a proven track record in both Crypto and TradiFi, we have successfully developed on 7 blockchains already Avalanche, Ethereum, Polygon, Q, Solana, Stellar, Tezos) and have 3 more in the short-term pipeline, we have successfully launched numerous pools in DeFi in collaboration with blockchains (Orca, Raydium, Xave, Balancer, Uniswap, Curve), established good relationships in blockchain ecosystems and are launch on different dApps (Armada, Kamino, Xavelend, just to name some) and are eager to pursue further our main goal - to become #1 non-usd stablecoins issuer.

About VNX Stablecoins:

VNX Website: www.vnx.li

Twitter: https://twitter.com/vnx_platform

Telegram: https://t.me/vnx_li

Linkedin: https://www.linkedin.com/company/vnx-io/

Facebook: https://www.facebook.com/vnx.io/

VNX Token and VNX Community HUB resources:

Website: vnx.community

Telegram Chat: https://t.me/VNX_Exchange

Twitter: https://twitter.com/vnx_community

Discord: https://discord.com/invite/5jCaPYwr3f

Docs: https://docs.vnx.community/

Thrilled to share some fantastic news - VNX has collaborated with Solana and Sygnum Bank, one of the top Swiss/European banks operating in the Digital asset space.
Our press release is now live:

Sygnum Bank clients can now deposit and withdraw funds with VNX Euro (VEUR) and VNX Swiss Franc (VCHF) on Solana chain alongside fiat currencies.

We also share the updates in our social networks under the links given in the application, you can also find them here:
Twitter / LinkedIn

1 Like

Would be great to see VNX on LFG. Payments are the most proven use case in crypto so far and stable coins help facilitate them. Would also be cool to see more Euro / Swiss Franc adoption on Solana / powered by Solana :slight_smile:

Interesting presentation!

The VNX Community Hub app solves the liquidity problem of non-usd stablecoins, particularly VEUR and VCHF stablecoins and other cryptoassets that may be paired with them. The developed liquidity of non-usd stablecoins will help to create an FX markets in DeFi, which is becoming mainstream.

How does the app solve liquidity problems for non-usd stablecoins, more specifically?

The app solves the liquidity problem of tokens of various projects, who can submit a proposal to vote so that pools with tokens of their projects can be added to the gauge controller and start receiving incentives.

Interesting, would you mind elaborating on how this would work? Is it something akin to Saber’s gauges, or Curve.fi’s model?

Hi, @c2yptic !
Thank you for your comment and questions!

The hub will be stimulating the markets of main European currencies markets, non-usd VNX stablecoins specifically, together with other stablecoins and crypto. In essence, as we will unlock DeFi users to manage the development of VNX stablecoins in DeFi, the market will be finding the most efficient and optimal solutions, that would drive liquidity and presence of non-usd stablecoins for the users and market benefits.
As we’re part of Stablecoins Standard, we will create markets with other non-usd stablecoins.
The potential of non-usd stablecoins is seen not by VNX only, but also by the market majors, e.g. our main market-maker Cumberland (link to their relevant report here, for example).

As for the second question, in general, design is like Curve gauges, however, closer to FXS model, but built around regulated stablecoins instead of algorithmic ones.

Hope that clarifies more, happy to discuss more, if necessary!
Thanks again for your involvement and participation!

1 Like