Cryptocurrency entrepreneur and visionary Brian Legend has 10 years of experience in the blockchain and crypto space and co-founder of OOXY Labs, helping to innovate the future of decentralized financial technology. perhaps most famous as
Now, he’s taking the field to the next level: blockchain automated revenue sharing — aka BARS (a term Legend recently coined).It describes a new, pioneering type of automatic staking feature that allows users to access multiple streams of passive income through his Vulcan platform, and Bryan Legend said it A whole new era of DeFi.
In a series of tweets on February 27th, Legend explained BARS.
“The #DeFi space is rapidly changing, becoming more efficient and passive income oriented. Investors are looking to join sound protocols with underlying revenue sharing strategies.” wrote a legend.
“Blockchain thrives on user adoption, on-chain volume, and a growing ecosystem. So the evolution of merging DeFi mechanisms and blockchain technology to automatically distribute revenue shares with users will It’s a game changer the industry has never seen before,” he said. Added.
“Blockchain Automated Revenue Sharing (BARS) will usher in a new wave of DeFi. #VulcanBlockchain is the world’s first implementation of this radical new approach.”
Hailing from Brisbane, Australia, Legend is the founder and CEO of Vulcan Blockchain, the world’s first auto-staking and auto-rebasing layer 1 blockchain. The platform offers 44% annual interest rate to investors holding native VUL cryptocurrencies, and his unique Vulcan consensus algorithm uses proof-of-authority consensus to deliver a flexible, scalable, secure and fast crypto platform. increase.
Bryan Legend’s extensive knowledge of the blockchain industry decentralized finance It includes all the elements that define it as a blockchain automatic revenue sharing service, with an automatic rebasing mechanism that adjusts the native VUL cryptocurrency supply every 15 minutes.
The fact that the blockchain has auto-synthesis capabilities and VUL coin holder ownership increases with each network epoch only enhances the platform’s position as a next-generation DeFi solution.
Additionally, there are three other methods available to platform users to earn passive income: Fixed, Flex, and PowerPool.
Fixed is the platform’s fixed 44% APR automatically distributed to VUL holders each year. This allows everyone in the Vulcan ecosystem to get high APRs with no commitment.
Flex will distribute 1% of fees from all VUL transactions accumulated over a 24-hour period to all users who have at least 1 VUL in their wallet and actively claim Flex rewards. The amount a user receives is proportional to his VUL held as a percentage of the total supply.
Finally, PowerPool is the 30-day cumulative total of unclaimed daily Flex Rewards that can be claimed by active Vulcan platform users who have claimed daily Flex Rewards. This encourages continued participation in the Vulcan ecosystem and on-chain activity for node operator rewards.
Many DeFi platforms suffer from bloat as new users enter the market, which leads to slower transaction speeds and higher fees. Brian Leggend We have developed a feature to prevent this and future-proof his platform.
This feature leverages smart contracts to make transactions faster and more secure.
“That word ‘bloat’ is basically what happened to the Ethereum blockchain,” explains Legend. “The huge number of users interacting with the network has slowed it down significantly, causing gas prices to skyrocket.
“Users of the Ethereum chain are mostly migrating to Binance Smart Chain and other relatively low-cost chains that offer better performance. It offers even less gas costs, though. [ethereum virtual machine] superficially compatible. However, the Vulcan Blockchain is the only one with his BARS technology at its core that motivates users to use Vulcan instead. “
The method behind this feature is a closely guarded secret, but it is known to also eliminate third-party intervention to execute transactions on the network. This has attracted multiple users and increased their participation in the DeFi space.
Regarding security and transparency, the Vulcan platform implements several measures to protect user data. Vulcan uses advanced cryptographic algorithms and regular security audits to ensure the platform is constantly updated with the latest security standards. This is good news for investors with large asset pools who have previously found it difficult to believe that blockchain platforms are well protected from attackers.
On what’s next, Brian Legend said the changes currently occurring in the blockchain industry mean Vulcan is well-positioned to offer a suite of products and services that meet the growing needs of DeFi participants. I’m optimistic then.