|Since they originally appeared almost 11 years ago, cryptocurrencies have been promising a change that would make the world a better place for everyone. They offer a number of benefits over traditional finances, including lower transaction fees, decentralization, as well as the ability to reach everyone, whether or not they have access to the bank.|
|Start||May 4, 2019|
|End||September 30, 2020|
|Soft cap||$1 000 000|
|Hard cap||$74 600 000|
|Tokens for sale||236800000|
ICO description, Technical Details and Documents
VOLUM is a holding company that offers a multifunctional blockchain-enabled B2B solution applicable across numerous industries, with a special emphasis being placed on the companies that experience issues related to logistics and supply chain management.
Due to being structured as a holding entity, VOLUM is capable of mitigating the investment risks through diversification of investment weights among the companies included in its portfolio. Upon the completion of the planned IEO, VOLUM will acquire a minority stake in five companies, indicated below, with the further goal of obtaining similar stakes in various enterprises interested in exploiting the advantages of the Ethereum blockchain.
VOLUM is a joint project of two companies: Bengala Technologies LLC, a developer of blockchain software based in West Palm Beach, Florida, and International Spirit and Beverages Group from Houston, Texas. Prior to the token sale, VOLUM made a settlement with the following five companies regarding the participation in the project:
The revenue model of VOLUM is based on acquiring dividend payments on the basis of its proportional ownership rights in the companies listed in the portfolio. The second income stream comes in the form of transaction and licensing fees collected in the course of platform exploitation.
The entire VOLUM ecosystem is fueled by a single utility token - VLM, which complies with two Ethereum technical standards: ERC-20 and ERC-721. A quick reminder that the former standard is related to the trademark smart contracts, the proper execution of which is essential for the VOLUM platform, whilst the latter is required for the issuance of unique non-fungible tokens and is also used for immutability purposes.
The employment of these two standards is required because of the multitude of types of transactions carried out on this B2B platform: wholesale purchases, filing of tax returns, tracking of shipments, issuance of legal contracts, verification of regulatory compliance, processing of customs documentation, identification of commodities, payment of dividends and rewards - just to name a few. The possession of VLM tokens is also required for gaining access to the platform and registering either regular or business account.
Speaking of smart contracts, VOLUM incorporates as much as three types of these protocols: operational, insurance, and reward smart contracts.
Operational smart contract is the basis for the intra-platform payment system and also acts as an escrow, generates timestamps and handles other feats like QR codes.
Insurance smart contract arranges for compensation for one of the parties in case the other party doesn’t fulfill its side of the deal that has been concluded on the platform.
Reward smart contract incentivizes the users with VLM for their activities on the network, provision of feedback, and sharing referral links on social media.
The VOLUM platform will be made accessible to government agencies, customs services, and revenue authorities which will be capable of auditing all operations in order to make sure they are compliant with corresponding legislation.
The sale of VLM is already underway, being carried out on the Latoken Launchpad. The IEO will end on June 17 or upon reaching the hardcap of $74.6 million. 1 VLM token can be purchased for the price of $0.334 that includes a 4.6% discount applicable till June 6. Citizens of the United States and China will be precluded from participating in the token sale.
* Crypto Rating accepts no liability for any errors in the VOLUM ICO information and Rating. For the most up-to-date information please visit the ICO's official website.
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