Volts Finance is a deflationary yield farming protocol with a simple business model. It aims to live by all the promises it offers its community. It sticks with its philosophy of promising less and providing more. That is the reason why it refers to its project as being experimental. However, it focuses on providing a service that meets or exceeds the expectations of users.
Its core strategy is to have a token, which is a non-deflationary store of value. Consequently, through staking the liquidity tokens, users generate stable yields. Although its idea is non-revolutionary, its environment is revolutionary to maintain a stable token value.
The inspiration behind Volts Finance are high performing platforms such as MEME PRINT, KIMBAP, and SUSHI, which achieved astronomical organic growth in a short space of time and established large communities of crypto enthusiasts.
Yield Farming
The farming process is straightforward for both new and experienced users. An individual should stake the Uniswap LPs. As a mere fact, charging started on the ethereum blockchain on November 10, 2020. The anticipation is that charging will run as long as the ethereum blockchain exists.
The staking process begins when a user buys the $VOLTS on Uniswap and holds them in a Metamask wallet. After that, he/she selects the pair of choice in the POOL tab. Remember, the two tokens should have the same dollar value. Once the process is complete, the charging process begins, enabling an individual to earn $VOLTS as a reward.
The pairs include:
As you can note, the pairs include stable coins.
Terminating the Farming process
Someone can stop charging, thereby halting the yield farming process. An individual goes to the FARM tab and completes a claim and withdrawal procedure. As a result, the person receives the $VOLTS and the original pair complement.
VOLTS Token
The native token for Volts. Finance is VOLTS, which drives the entire platform and all the associated processes. By the way, VOLTS is an ERC 20 token, and its distribution is:
- Initial Supply: 1 600
- Presale tokens: 500
- Initial liquidity on Uniswap: 500
- Community: 100
- Team: 100
- Locked reserve for swap: 400
The emission rate is very low to maintain the stability of the token. For example, from the launch date, the platform emits 60 VOLTS per day. Notably, the team will adjust both the emission rate and the burnt rate in line with the token value fluctuation. As a result, the value of the token will fluctuate within a reasonable range.
To further maintain a stable value of the token, the protocol splits the contract’s ownership between an owner and a minter. This makes it impossible for the platform to mint excess tokens. Above this, a reputable firm audited the tokens, increasing the security of the platform. According to the audit report, Volts Finance has two smart contracts: VoltsToken.sol and VoltsChef.sol and has high-security standards.
Conclusion
In summary, Volts Finance, as a deflationary farming protocol, has two primary aspirations. The major focus is to have a token that stores value. And the second objective is to create a vibrant community that supports its ecosystem. Above all, it hates the scamming syndrome, where start-ups promise riches but swindle their community members.
Community
The main communication platform for Volts Finance is telegram, where there are a chat group and a news channel. The community welcomes new members.
