Key Takeaways:
- VPAD, native token of multichain launchpad VLaunch, has fallen 18.7% since Dec 31.
- The platform announced the upcoming launch of an NFT Launchpad.
NEW DELHI (CoinChapter.com) — Multichain launchpad platform VLaunch’s native token VPAD has had a bearish start to the new year. The VPAD token price has lost 18.7% of its value since Dec 31.
However, the VPAD token, launched just two weeks back on Dec 23, is still up 153% from its launch price.
Friday saw VPAD prices fall nearly 8% between high ($2.02) to low ($1.86). The VLaunch token started at $1.97 and rose to $2.02 as trading progressed. However, the VPAD price dropped later in the day. As per coinmarketcap data, the token has a fully diluted market cap of $1.88 billion.
VPAD reached its ATH of $2.29 on Dec 31. However, the VLaunch token has since charted a nearly horizontal price action favoring the bears.
The VLaunch token is currently listed on Phemex, Bitmart, and Uniswap exchanges.
What Is VLaunch token?
VLaunch is a multichain launchpad with many blockchain influencers backing the platform, such as That Martini Guy and Crypto Busy. Furthermore, investors such as VC firm Metavest Capital, Crypto Lark, and The Moon Carl have thrown their weight behind VLaunch.
The multichain launchpad aims to democratize access to early-stage crypto projects that show promise. Additionally, VLaunch claims to be a first-of-its-kind launchpad based in the metaverse with support for Ethereum, Binance Smart Chain(BSC), TM, and Polygon.
Onboarding social media influencers are likely to help VLaunch with increased engagement.
The platform’s native token, VPAD, has staking and governance utilities. VPAD holders can stake their tokens for 14 days to five years. Furthermore, the staking period would act as an amplifier to the amount of VPAD tokens staked.
VPAD tokens will also serve as governance tokens once VLaunch transforms into DAO. Additionally, the VLaunch token would also help protect the platform from Sybil attacks by requiring participants to stake a small quantity of VPAD tokens.
Vlaunch has capped the total supply of its native token at 1 billion VPAD.
On Jan 5, VLaunch announced an upcoming NFT launchpad on its platform, where VPAD holders and stakers would get a stake in the IDO and pre-IDO allocations. In addition, VPAD holders would also get a stake in the NFT collection that the upcoming platform will host.
At the time of writing, VPAD was trading at $1.79, down 11.34% on the day.
