What is Velas (VLX)

1. Project Introduction
Velas (VLX) is an EVM-compatible blockchain and open-source platform for decentralized projects and applications, capable of processing up to 75,000 transactions per second with instant finality, low fees, and Solidity support. As a Solana fork, Velas Network launched its mainnet in February 2020. Inspired by Web 3.0 and blockchain technology, Velas is committed to building a transparent, community-driven decentralized ecosystem supporting thousands of applications and services.
Summary: Velas aims to address societal needs and set industry standards through innovative technologies and decentralized solutions. By combining the benefits of centralized and decentralized models, Velas strives for a self-governing, transparent, and community-led future to enhance the quality of life for global users.
2. Team & Investment Info
Team:
Founded by crypto entrepreneurs Alex Alexandrov and Farkhad Shagulyamov.
Alex Alexandrov, CEO of Velas, is also the CEO of CoinPayments, the world’s first and largest cryptocurrency payment and wallet solution.
Funding:
In 2019, Velas raised $20 million in a private funding round with participation from CoinPayments, Swiss regulatory-compliant investment firm Alpina Capital, and several high-net-worth individuals.
3. Social Media URLs
X: https://x.com/VelasBlockchain
Telegram: https://t.me/velascommunity
Medium: https://medium.com/velasblockchain
4. Token Info
Token Symbol: VLX
Total Supply: 2,300,000,000 (current supply inflated to ~2,631,985,102)
Token Type: BEP-20
Issuance/Burn Mechanism: 8% annual inflation
Contract Address: 0xe9c803f48dffe50180bd5b01dc04da939e3445fc
Token Distribution: 100% circulated
5. Related Links
Official Website: https://velas.com/
GitHub: https://github.com/velas
White Paper: https://drive.google.com/file/d/1gPxFKW8wSRF_iQY5fu4fV-Il33psyA-u/view