Bryan Legend Explains Vulcan’s FireStorm Mechanism
Bryan Legend, a self-taught entrepreneur and creator of multiple decentralized finance initiatives such as Clever DeFi Protocol, Safuu, and OOXY Labs, has developed the Vulcan Blockchain. The world’s first auto-staking and auto-rebasing Layer 1 blockchain offers an impressive 55% annual percentage yield (APY) for investors and coin holders who use $VUL.
However, offering such a large APY at the beginning of the blockchain gave it a runway of just two years. To create a sustainable blockchain that would last decades, Legend and his team introduced the FireStorm mechanism to vaporize $VUL in the FirePit, making the Vulcan Blockchain more sustainable over the long term.
How Vaporization Events Occur
According to Bryan Legend, FireStorm won’t be a constant process but rather a series of scheduled events. In the first FireStorm event, an estimated 31% of the total supply will be vaporized. After this vaporization event, the supply of $VUL will be reduced to just 51%. Subsequent vaporization events will reduce the FirePit in its entirety, taking the supply down to zero.
Legend says that “It will always be a repeating process of marketing and advertising to the variety of DeFi users about our supply being reduced heavily.”
The Benefits of the FireStorm Mechanism
The FireStorm mechanism has numerous benefits for coin holders, investors, and the Vulcan Blockchain:
- Reduces supply: By reducing the supply of $VUL coins in circulation during vaporization events, coins become scarcer.
- Price appreciation: Regularly reducing supply on a predictable schedule leaves more room for price appreciation.
- Long-term sustainability: Keeping burn percentages above 51% ensures the Vulcan Blockchain remains sustainable over the long term.
Bryan Legend wants to change how people think about finance and believes that the FireStorm mechanism will help solve the issue of token supply management, which is critical for cryptocurrency’s longevity.
As Vulcan Blockchain prepares for its first significant FireStorm event, Legend is confident that this change will make the platform more sustainable long-term, creating a viable DeFi alternative for both coin holders and investors.
To learn more about Vulcan Blockchain and the innovative FireStorm mechanism, visit their official website.
Keywords: Vulcan Blockchain, FireStorm mechanism, auto-staking, auto-rebasing, Layer 1 blockchain, APY, $VUL, sustainable blockchain, vaporize, FirePit, DeFi users, supply management, cryptocurrency’s longevity, viable DeFi alternative.
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