Following the launch of the digital asset exchange in July this year, SMART VALOR, the leading Swiss company, headquartered in the Swiss Crypto Valley, Zug, released details about the VALOR activation program for 2019-2020 today.
Commenting on this, CEO of SMART VALOR, Olga Feldmeier said:
“We are very excited to move on with activation of our native currency VALOR on the SMART VALOR platform. Following the recent go-live of the exchange, we are now enabling the usage of VALOR on the exchange. Beyond the short term speculation characteristic for the initial phase, the real use cases for VALOR such as membership staking and payment function will drive the organic demand on the open market. In this way the sustainable growth and the value created by our company will be shared with all involved stakeholders and contributors.”
In the initial activation phase of the VALOR token, April-September 2019, after the token generation event on the 27th of March 2019, the technical infrastructure and the functionality of the token was implemented. The full roll-out of the VALOR functionality towards users of the platform will start on October the 10th 2019 and span over a period of 12 months. It will include staged activation of VALOR trading on the SMART VALOR exchange as well as the implementation of payment and staking functionality.
First phase in October-December 2019: Initial Activation
The first phase will be focusing on activation of VALOR on the SMART VALOR platform and include:
- New staking program: VALOR STAKING
- Activating discounted fee payment function
- Enabling VALOR trading on the SMART VALOR platform
VALOR STAKING is a new element of the VALOR functionality and is an integral part of the user reward program. SMART VALOR will offer up to 15% VALOR reward on holdings of VALOR staked and locked on the platform. The participation in the reward program will include the active engagement in voting, reviews and referrals. The current token holders that purchased VALOR during initial offering or before 3rd of October will receive additional bonus for past holding period.
The next milestone
The next milestone of the first phase is the activation of the discounted fee payment function >which will be launched on the 1st November, following the end of the zero transactions fee campaign during the first three launch months. The payment function will enable the users to pay brokerage and trading fees on the SMART VALOR Exchange in VALOR. In this case the amount of fees due is reduced by 30%. This function is today widely used by other successful exchanges such as Binance.
After the activation of VALOR payment function and with it the creation of organic, non-speculative demand for VALOR, SMART VALOR will move towards the listing of VALOR on the SMART VALOR exchange. The expected date is December 2019 and will be finalized based on the market sentiment around that time frame.
Valor Task Force will be created for existing and future contributors who are working on the further development of the platform. The contributor group will include translations, content, social media and software development sub-groups and will serve as decentralized extension of the core employee circle. The Valor Task contributors will have access to the internal task market and be paid in a combination of fiat money and VALOR. To become part of Valor Task Force every contributor needs to stake 1’000 VALOR in his SMART VALOR wallet.
At the end of December 2019 SMART VALOR will be performing the token burn according to initial schedule, burning the remaining tokens from the 45.000.000 VALOR token pool reserved for initial token offering.VALOR Activation
The second phase of VALOR activation Q1-2 2020: Prime Membership
The second phase of activation of VALOR will be focused on enablement of different membership staking functions. Membership staking is a central element of the VALOR network design. It is aimed at setting the right incentives and engaging key stakeholders and customers to contribute to the growth of the platform. Fast scaling of the platform will fastrack the road to achievement of network effect on the platform. The launch of the VALOR PRIME service for users of the platforms is scheduled for Q1 2020. It is aligned alongside the introduction of new products and services. VALOR PRIME will include a package of free services exclusively reserved for VALOR PRIME members. The purchase the VALOR PRIME membership will not be able with fiat money. It will only be available through staking. Users will need to deposit and lock in their SMART VALOR wallet a certain amount of VALOR for 12 months.Towards the launch of the security tokens segment ValorS on the SMART VALOR platform, the extension of VALOR PRIME membership for security token issuers, market makers and other institutional partners is scheduled for June 2020.
Third phase in Q3 2020
In the third phase of VALOR activation will coincide with the launch of the ValorS , the security token segment. SMART VALOR is preliminary planning to move the trading of VALOR from the cryptocurrency segment into the ValorS market segment enriching its functionality beyond payment and utility functions.
With this comprehensive empowerment of VALOR the value of the token could be expected to correlate closely with the growth of the business on the SMART VALOR platform . Nevertheless there might be short term price fluctuations connected to release of the token purchased during the initial token sale with 6 months (27th September 2019) and 12 month (27th March 2020) lock-up period. None of the employees, founders and advisors have ever sold any VALOR tokens. They are fully committed to the long-term success of the business. By contractual agreement their tokens are locked at least until the 27th March 2020.