As a financial DApp, VELIC has been searching for a suitable smart contract platform to develop upon. The team reviewed Ethereum, EOS, Hyperledger, and Qtum, however, it ultimately decided to develop on the ICON’s loopchain. Not only will ICON’s loopchain enable VELIC to scale to enterprise-level, but conversely VELIC will also help expand the ICON ecosystem.
Each letter of VELIC represents one of its core services. Vault: privately secures private keys in a decentralized state. Exchange: provide crypto-to-crypto exchange alongside trade-mining staking features. Loan: create an internal credit-rating system that enables the borrowing of crypto assets. Investment: provides crypto asset management services for crypto assets on VELIC. Crypto Assets: most importantly, VELIC will primarily be focused on developing a financial crypto financial infrastructure.
The VELIC platform aims to launch the exchange and native VELT token in Q1 2019.