What is VALOR?
VALOR is the exchange’s native cryptocurrency issued by SMART VALOR AG Switzerland. Purchasing cryptocurrencies on the SMART VALOR exchange with paying fees with VALOR token allows buying for lower trading fees.
VALOR is listed on Bithumb, Bithumb Global, Uniswap, MEXC and SMART VALOR.
How are VALOR tokens designed technically?
VALOR token is a dedicated ERC20 token with some extra functionalities like burnability and immediate allocation of funds to a number of monitored wallets during the token generation event and a staking platform that allows users to stake a number of tokens in exchange for a certain type of membership. These stakes are created as self-contained smart contracts, to leverage the accounting functionality coming with a full Ethereum address per stake, and are generated by a specialized factory contract. The smart contracts are designed to be trustless, and no authority to seize funds is granted to SMART VALOR.
What is the total supply of VALOR and it is allocated?
Initially, the total amount of VALOR equal to 100,000,000 was created. Withing this number following allocation has been set up originally:
45% - reserved during the initial Pre-sale and ICO. The legal commitment was made to burn all remaining tokens from this pool before the end of 2019.
26% - retained for future development. This fund is locked up for 3 years 2017-2020.
19% - for the team, founders, current and future employees and advisors
5% - for bounties and network growth
5% - liquidity fund
In December 2019 SMART VALOR executed a burn (unrecoverable destruction) of 25'000'000 VALOR, following its legal commitment to burn tokens remaining in the initial sale pool of 45%.
Read here about the execution of the VALOR burn in December 2019:
How many public sale rounds were held?
VALOR was sold in 6 rounds.
- 1st Pre-sale Base Bonus: 70%
- 2nd Pre-sale Base Bonus: 50%
- 3rd Pre-sale Base Bonus: 35%
- Public sale round 1 ≥ Start: 27.12.2018 - End: 31.12.2018 - Base Bonus: 25%
- Public sale round 2 ≥ Start: 25.01.2019 - End: 31.01.2019 - Base Bonus: 20%
- Public sale round 3 ≥ Start: 22.02.2019 - End: 28.02.2019 - Base Bonus: 15%
How is the VALOR token regulated by tax authorities?
Each country treats cryptocurrencies differently and the tax treatment may be subject to change. We therefore strongly advise every potential buyer or holder to consult their own tax advisors to determine any tax consequences of the purchase, ownership, sale, or other disposition.
How people use VALOR today?
From fees saving to staking
- Saving fees
Reduce your transaction fees by 30% when you pay with VALOR on the SMART VALOR exchange.
Earn up to 7% on VALOR staking. Staking is the temporary locking and holding of funds in a cryptocurrency wallet to support the operation of a blockchain network. When you stake your crypto, you make the underlying blockchain of that asset more secure and efficient. And in return, you will be rewarded with more assets from the network.
Has the VALOR token been audited? Is the VALOR token secure?
Yes, ChainSecurity has completed a security audit of the VALOR smart contract in 2018. The full report, including the scope of the audit and considered properties, is available on Github.
Overall, ChainSecurity’s auditors found that SMART VALOR employs good coding practices and has a clean, well-maintained code. No critical security vulnerabilities were found during the audit.
Is VALOR a security token? What is the legal status of VALOR?
VALOR is a cryptocurrency issued by SMART VALOR AG Switzerland. Legally VALOR has a status of payment and utility token. This means it serves as payment to buy, sell and trade cryptocurrencies on the SMART VALOR exchange. VALOR has also a utility such as if a user pays with VALOR, the transaction fee is reduced by 30%. Before the issuance in 2018, the concept of VALOR was submitted to FINMA (Swiss Financial Supervisor). FINMA confirmed the view that VALOR within this functionality is not considered security and falls into the hybrid token category (utility and payment token). This means that VALOR is not a security (neither a share and nor a bond or any other type of securities).