Voltage Financehas announced its successful launch of the Voltage Finance decentralized autonomous organization (DAO) and the volt (VOLT) token. VOLT will have three key use cases in the Voltage Finance ecosystem, including enabling holders to participate in governance votes and more.
Voltage Finance Completes Volt Token Launch
Voltage Finance (VOLT), a rapidly growing mass-adoption-focused all-in-one decentralized finance platform powered by Fuse Network, has launched its Volt governance token, in a bid to become a fully decentralized autonomous organization (DAO).
It will be recalled that Voltage Finance conducted a hugely successful private fundraiser earlier in December 2021, attracting investments from a vast array of notable institutional investors, including, Spark Capital, TRGC, Collider Ventures, GBVCapital.Exnetwork Capital, Blockchain Founders Fund, Node Capital, Sheesha Finance, LVT Capital, ZBS Capital, and a host of others.
The launch of the Voltage Finance DAO and native crypto is part of the team’s plans to further decentralize the project and foster inclusivity, especially at a time when the issue of exorbitant gas fees, low scalability, and complicated user interfaces of DeFi platforms is limiting the mss adoption of DeFi solutions.
With Volt token now live, members of the Voltage Finance ecosystem will now be able to have a say on how the project is being run by simply holding or staking VOLT. The team has hinted that community governance of Voltage Finance will be handled by Snapshot, a decentralized voting protocol.
VOLT Token Details
VOLT is an ERC-20 standard
standard token running on the FUSE Network with a maximum supply of 10 billion. The team plans to launch the VOLT initial decentralized offering (IDO) on Poolz Finance on February 22, to officially kickstart the token distribution campaign.
VOLT token IDO will also be conducted on Infinity Pad and Enjin Starter on February 23 and 28 respectively.
That’s not all, the VOLT token sale campaign will also continue on Fuse Network on March 1, 2022, to give members of the Fuse ecosystem a chance to acquire VOLT. During the event, FUSE token holders will be able to exchange FUSE for VOLT at three different rates depending on the VOLT vesting period, after which the Voltage Finance team will launch an airdrop campaign to reward its early adopters.
On completion of the VOLT token allocation campaign, the cryptoasset will be usable for trading, yield farming, and governance in the Voltage Finance ecosystem.
“Volt Finance is an all-in-one DeFi platform on Fuse. It is focused on mass adoption and can be easily used on mobile including through the consumer-facing Fuse Cash wallet, which already integrated Voltage DEX for token swaps directly in-app and further integration is in the pipeline. Voltage is the biggest protocol by total value locked (TVL) on Fuse,” explains the Voyage Finance team.
Since the launch of the Voltage Finance project in 2021, the platform has continued to wax stronger, hitting several significant milestones, including the listing of multiple popular tokens for trading on the Voltage DEX, the launch of a lending protocol run by OlaFinance, and exponential growth in TVL as well as trading volume on the DEX.
In the coming months, the team says it plans to finalize the VOLT token distribution, fully transition to VOLT-holder community governance system and roll out its own IDO platform.