VegaWallet will introduce the VegaWallet token otherwise known as VGW during our Initial Coin Offering (ICO). The “VGW” token is developed on the Ethereum ERC20 platform, It facilitates interaction with smart contracts as well as permission applications on the Ethereum Blockchain. VGW will act as a utility token for use on the Vegawallet platform. The VGW token will help to run the backbone of our platform and provide users several benefits across multiple facets.
Use Cases for the VegaWallet Token
- Lower Exchange Transaction Fees
The VGW Token provides a commission discount for using the VegaWallet exchange. All transactions that do not include a trade with VGW involved will incur a small 0.1% fee. However if a user were to incorporate our VGW trading pairs or decide to trade back into VGW to hold value the commission fee will be an unnoticeable 0.05%
- No-Fee Transfer Between VegaWallet Exchange and Wallet Application
VegaWallet takes security seriously and the VGW token was designed specifically to protect user funds in several ways. For the best interests of our wallet and exchange we have kept the two identities mostly separate. VGW was made for users not wishing to store their funds on our online exchange, who do not want to continually pay withdrawal fees. With other cryptocurrencies it is hard to track if they are being withdrawn to a VegaWallet address because of our rotating public wallet keys. However, with VGW we’ve designed withdraws and deposits to always be free of charge on our platform.
- Loyalty and Rewards Program
VegaWallet will introduce a Loyalty and Rewards Program to increase public business interest during our Point of Sale launch. Companies using our technology will be able to offer an updated rewards system focused on cryptocurrency. VGW will be the first cryptocurrency offered by this program.
- Advanced Point of Sale System Features
Our Point of Sale system launched in Phase 2 of our platform will be free to download and use, however some advanced features of our platform will involve companies using a certain amount of VGW tokens to unlock specific business tools.
The “VGW” token ICO will take place in multiple phases alongside the launch of VegaWallet. Funds raised from the VGW ICO will be distributed accordingly and used for development of our platform. This includes and is not limited to development of advanced features, marketing to create an influx of users to better serve the exchange, daily operations, customer service, as well as any legal fees or challenges that may arise, and of course VegaWallet’s top priorities: development for real world use and product security.