It goes without saying that the past year has been particularly exciting for the entire cryptocurrency market.
Last March, during the coronavirus-induced global market crash, Bitcoin’s price dropped to a low of around $3,800, and a lot of people thought it would go even lower. The market, however, saw this as the absolute bottom and started advancing parabolically.
This year, BTC reached an all-time high at a whopping $65,000 – more than 3 times higher compared to the ATH of 2017.
Naturally, this caught the attention of the entire world, and many people started engaging with the market in hopes of getting high returns. This had the overall trading volume skyrocket to unseen heights, and it also made way for many exchanges to step up.
One of these is VDollar – an interesting platform that leverages technology to provide an easy-to-use interface, quick trading platform, and plenty of cryptocurrencies to work with.
What is VDollar?
Per the information shared with CryptoPotato, VDollar is a cryptocurrency exchange headquartered in the USA. The company behind it – VDollar Exchange LTD – is registered in Colorado.
However, a lot of the content on the website itself is in Chinese, which could mean that there’s a high focus on that audience.
In any case, the overall appeal of the exchange is quite comprehensive and very intuitive – it doesn’t take much to understand everything there is, especially if you have at least some prior experience in using cryptocurrency exchanges.
This is how the trading interface looks like. In the middle, we have the chart, and on the left side, there’s a list of the available cryptocurrencies the user can choose from. Most of the popular ones are included, so there’s no shortage of options.
On the right side is the orderbook, and right below the central chart, users can find the order interface. All in all, there’s nothing too complicated here, and using the platform is quite easy.
The VDollar Native Token
One of the things that VDollar is using to differentiate itself from competitors is the exchange’s native token.
Unlike others in the industry, 100% of the transaction fees that are generated on the exchange are put into the USDT Reserve Pool – the on-chain address of which will be published and will be transparent and fully verifiable.
The issuance cap of the VDollar will be capped at 10 million tokens. For the very first minting, a VDollar will be minted for every 1 USDT of transaction fees conversion. However, as time goes by, there will be a halving through each phase, which will slow down the issuance of new tokens.
The generation mechanism uses super representatives, each one of whom is elected by a voting – there are 32 seats which will never increase.
In any case, the entire platform looks well-rounded. The only slight drawback seems to be the fact that some of the interface can’t be properly translated from Chinese to English, which may present some obstacles, though it didn’t – from experience.