Thoughts on VELOREX? [BSC]

[VELOREX]

Hello everyone!

I would like to introduce VELOREX, that takes place in the Binance Smart Chain, as a starter token any feedback, opinions are welcome on what we can improve on.

Links
Website: https://velorex.cc

Whitepaper: https://velorex.cc/whitepaper

Discord: https://discord.gg/AFMM9hfWu6

Telegram: https://t.me/velorex_cc

Reddit: https://reddit.com/r/velorex

Twitter: https://twitter.com/velorex_cc

Basics
Name: VELOREX
Symbol: VEX
Decimals: 8
Token total supply: 500.000.000
Burn Cycles: Before presale: 250.000.000 Instant burn from dev wallet
Auto Burn: 1% of every transaction.
Auto reward system: 1% of every transaction

About the project
VELOREX is a Decentralized Finance (DeFi) token on the Binance Smart Chain (BEP-20) platform, aspiring to make the crypto market safer for everyone to invest in. The token has a total supply of 500 000 000, and will be reduced in the First Burning Cycle to 250,000,000. The main idea behind this token is to bring cryptocurrencies to the daily life of the average people, by implementing VELOREX token (VEX) to Crypto ATM’s, and with it developing and creating an international FIAT ⇄ VEX Credit card system to make life easier, and safer to everyone. VELOREX will have its own blockchain before Q4 2021.

Plans after presale


Listing at coingecko, coinmarketcap
Listing at most exchanges ( Dex.guru, Bibipom, Okex, Kraken )
Heavy marketing
Community building

Plans for further
VELOREX Blockchain ( Late of Q3 - Q4 )
VELOREX Wallet-app development

When these two are done...
Direct FIAT - VEX Crypto ATM's (First locally, then expanding to EU; US...)

Plans we want to check before end of 2021
VELOREX Exchange
FIAT - VEX Crypto Cards

Tokenomics simplified
50% of the total supply will be burned before presale
Public sale ICO: 49%
0.5% Reserve for Marketing
0.5% Locked until 2025 / 12 / 01


I would like to ask for some feedback, thoughts, and opinions on what can we improve on, and how can we make our project safer. Don't hesitate to say any flaws we have, we will work on fixing them. We want to start with a bulletproof, safe environment

[Tytanowy Janusz]

Token total supply: 500.000.000
Burn Cycles: Before presale: 250.000.000 Instant burn from dev wallet
Auto Burn: 1% of every transaction.

So you are minting 500M tokens just to burn 250M right after? The is no economic point of it. Just trying to catch newbies on sham activities? Why not mint 250M without burn?

"Auto Burn: 1% of every transaction." So each time i will want to use this service i'll be short 1%? That's how you want to compete with SPX that gives 5% cash back with every transaction? Project that already achieved what you are planning to and is used by binance in biannce card by millions of users? How you want to convince those users that it is better to give 1% to network instead of taking 5%?

[cryptoperkele]

There are so many red flags in this.

Let's start by the fact that there's zero reason for this "coin" to exist. It doesn't solve any real problem.
There's no github or talk about what kind of L1 solution it would be swapped to or why it would need own blockchain in the first place.
ATM for some illiquid token is just pointless, there are several different atms for different highly liquid coins already.

 

[VELOREX]

There are so many red flags in this.

Let's start by the fact that there's zero reason for this "coin" to exist. It doesn't solve any real problem.
There's no github or talk about what kind of L1 solution it would be swapped to or why it would need own blockchain in the first place.
ATM for some illiquid token is just pointless, there are several different atms for different highly liquid coins already.

 

Seems like its just an issue locally, because the Crypto ATM's here dont support anything other than BTC & ETH. Also before we started the project we had the idea to team up with local Crypto ATM's but they require a blockchain, because it would be a "mess" to make a crypto ATM with for example a BEP-20 token.

Token total supply: 500.000.000
Burn Cycles: Before presale: 250.000.000 Instant burn from dev wallet
Auto Burn: 1% of every transaction.

So you are minting 500M tokens just to burn 250M right after? The is no economic point of it. Just trying to catch newbies on sham activities? Why not mint 250M without burn?

"Auto Burn: 1% of every transaction." So each time i will want to use this service i'll be short 1%? That's how you want to compete with SPX that gives 5% cash back with every transaction? Project that already achieved what you are planning to and is used by binance in biannce card by millions of users? How you want to convince those users that it is better to give 1% to network instead of taking 5%?

We started without burning and people with messages kept coming about why dont we have burning. We implemented it as our small community requested. We will not have burn in our blockchain, and also we can team up with anyone with the right amount if money and people to supply crypto cards with VEX.
Also about the 250M burn, we might just lock that up for a few years instahead of burning it, because it really makes no sense lol. Our people wanted it but there is no point on doing it

[cryptoperkele]

There are so many red flags in this.

Let's start by the fact that there's zero reason for this "coin" to exist. It doesn't solve any real problem.
There's no github or talk about what kind of L1 solution it would be swapped to or why it would need own blockchain in the first place.
ATM for some illiquid token is just pointless, there are several different atms for different highly liquid coins already.

 

Seems like its just an issue locally, because the Crypto ATM's here dont support anything other than BTC & ETH. Also before we started the project we had the idea to team up with local Crypto ATM's but they require a blockchain, because it would be a "mess" to make a crypto ATM with for example a BEP-20 token.

Ok, i'll play along. Why do you need anything else then BTC or ETH? Fees perhaps? ETH scaling will be finished before you'll get your one or 2 ATMs for the coin that has no liquidity or users. Also you haven't also answered anything about the blockchain you'll be building. Quit scamming people with your pointless presales.