VXL Network introduces VXLD, a novel USD-pegged stablecoin for retail users and businesses
Fintech innovator VXL Network has introduced its flagship product, VXL Dollar. It is a stablecoin pegged to the U.S. Dollar with a number of unusual features for DeFi.
VXL Dollar, or VXLD, was introduced to the public on January 1, 2022, as a revolutionary Dollar-pegged stablecoin to address major utilities, such as:
- Payment System
- Building cryptocurrency liquidity pools
- Usage in Metaverses
- Cross-chain swaps
- NFT marketplaces
- Central bank utility
VXLD is the first stablecoin backed by physical metals that are held in the United Arab Emirates’ largest security firm, Transguard Group.
The initial supply is 2,000,000,000 VXLD backed by nickel wire isotopes.
VXLD tokens are issued on four major VM-compatible blockchains : VXL Network, Ethereum (ETH), Tron (TRX) and Polygon Network (previously Matic Network, MATIC).
The VXL Dollar token was built on the VXL Network blockchain.
VXL Network’s blockchain is a next-generation eco-friendly, high-throughput, open-source, self-learning blockchain network that implements an AI-powered Delegated Block-Lattice Proof-of-Vote (AIDBLPOV) consensus mechanism for dramatically improved scalability, high security and interoperability for the future of digital assets, dApps and Web 3.0.
This new design allows VXL Network’s chain to run 7,000 Transactions Per Second (TPS) while supporting 500,000 users at a given second.
This makes VXLD a dangerous competitor to mainstream stablecoin heavyweights USDT, USDC and BUSD.
VXLD is available for crypto and fiat holders
Currently, VXLD tokens can be easily exchanged for the largest fiat currencies, such as USD, EUR, GBP and CHF, as well as cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Cardano (ADA).
VXLD tokens can be purchased directly on the VXL Dollar website and regulated peer-to-peer decentralized cryptocurrency exchanges.
For crypto enthusiasts who want to be part of VXLD, they need follow these steps:
- Register and set up your digital wallet.
- Submit your KYC document, passport and proof of residence.
- Fund your digital wallet via multiple payment methods (CC, Bank transfer, external digital wallet).
- Funding confirmation message.
- VXLD will be available in your wallet.