Valorem launched its Initial Coin Offering (ICO) last November 10, 2017 and disclosed its maximum and minimum targets of $15 million and $5 million respectively. Members can opt for the Ethereum/US Dollar exchange rate and volatility. The Valorem token is called VLR with an exchange rate of 1 ETH equals to 1, 000 VLR.
The conclusion of the Token Sale is scheduled on June 28, 2018 once the maximum number of ETH and Bitcoin (BTC) is achieved. The Bonus Schedule is as follows. Presale started last December 15 with a bonus of 100%. The first stage begins on January 28 with bonus of 50% followed by the second stage on February 28 (40% bonus).
Stages 3 up to 5 will be on March 28, April 28, and May 28 with bonuses of 20%, 10%, and 10%. The end of sale is on June 28 without any bonus.
Valorem Chief Executive Officer and founder Val Kleyman said users on the Blockchain-based system can borrow, lend or loan, invest, transmit, and exchange funds with each other. “We build a platform based on trust that eliminates the need for external merchants or third-party services,” he added.
The primary service of Valorem is lending. Users who log into the system can makes post requesting for loans which the entire community is capable of viewing. Members can reply with offers. Lenders can protect default risks by purchasing insurance through said platform.
Valorem’s vision is straightforward. It caters to consumers who no longer want to use the traditional fiat currencies which always decrease instead of increase in true value. “The VLR is for people who yearn for greater purchasing power,” Kleyman explained.
Valorem aims at nurturing a unique network that produces genuine value by putting together end-users, merchants, traders, and partners allowing them to maintain valuable exchange on its platform. The Latin term valorem or valor was inspired by English art critic, social thinker, and philanthropist John Ruskin who stated that, “One can become valuable by availing towards life.”
The minimum Initial Coin Offering is 0.1 ETH, 0.05 BTC, as well as US$100. Meanwhile, minimum token sale was pegged at 0.1 ETH. There will be 50 million tokens held in reserve. Tokens made available to the general public after the launching is 150 million.
Valorem is anchored on the ETH Blockchain ERC 20 with the so-called Zero Coin Protocol where the value given must receive equal value.
The objective of Valorem is to come up with a basic and user-friendly platform both for the mainstream and cryptocurrency community. It focuses on micro, student, and car loans; business investments, P2P networks, buy and sell of commodities; crowdfunding; insurance; and, charitable institutions.
Valorem prefers to describe itself as a “decentralized blockchain” and renders governance by creating mutual trust between all users. Members are required to exchange their currencies into VLR before using the different functions. For any questions and concerns, check out Valorem’s website at https://advalorem.io/. Interested users can see the online form and fill it in with personal details.