Vulcan Blockchain is the new crypto platform developed by Australian entrepreneur Bryan Legend, a visionary most notable for being the core founder of the development company platform OOXY Labs. With this new project, Legend hopes to usher in the next level of decentralized finance.
A pioneer in the DeFi space, Legend has played an instrumental role in shining a spotlight on the industry and has helped to shape the DeFi landscape by working on the development of various DeFi projects. He’s the core founder of OOXY Labs, a leading development company, and the founder and CEO of Vulcan Blockchain.
The DeFi market has been making waves in recent years. It’s helping to revolutionize the traditional, stuffy world of finance by offering decentralized means for accessing financial products and services. With DeFi, it’s possible to access many new types of investment opportunities without having to rely on centralized, regulated institutions and all the compliance baggage and oversight that comes with them.
DeFi has grown exponentially since its inception just a few years ago. It’s made it possible for everyone to participate in modern financial markets and, most importantly, benefit from their growth potential. Bryan Legend has been at the forefront of this, and through the Vulcan Blockchain platform, he hopes to transform the DeFi space for good completely.
The Vulcan Blockchain
Vulcan Blockchain is a DeFi platform designed to help investors unlock the full potential of DeFi protocols. The platform has been described by Bryan Legend as a Blockchain Automatic Revenue Sharing (BARS) service, a term that he coined in a series of Tweets.
“The #DeFi space is changing rapidly to become more efficient and passive income oriented. Investors are looking to participate in sound protocols with underlying revenue-sharing strategies,” Legend tweeted.
“A #blockchain thrives from a user adoption, on-chain volume, and an expanding ecosystem, so the evolution of merging DeFi mechanics with blockchain technology and automatically distributing revenue sharing with its users is a game changer never seen before in the industry,” he added.
“Blockchain Automatic Revenue Sharing (BARS) will usher in the new wave in DeFi. #VulcanBlockchain is the World’s First to implement this radical new approach.”
Bryan Legend has been involved in cryptocurrency for over a decade. He brings a wealth of knowledge to the table alongside a successful sales background that has won him several industry awards over the years. Today, he is one of the most notable crypto industry personalities and has launched a wide range of businesses, including Twilx, Vulcan and OOXY.
In 2022, Legend also created Safuu, a DeFi protocol that enables users to invest in sustainable assets.
Now, Legend believes that the Vulcan Blockchain platform will fill a huge need in the market as DeFi continues to undergo rapid changes. He states that there’s a need for effective protocols that give investors more confidence and a need for greater security and independence from external influence and regulation. This motivated him to develop BARS, and it’s one of the underlying principles of the Vulcan platform.
Compensating Users for Their Commitment
The Vulcan Blockchain platform is unique in how it compensates its users for their commitment to it. Rewards are generated via a rewards network, and these are generated from fees that the validator charges for hashing network operations on the Vulcan Blockchain.
This means that staking on the Vulcan platform offers users a guaranteed passive income proportional to the amount of money that’s staked by the user, along with its period of unavailability and any conditions set by the validator. Rewards are paid out to users in the platform’s native coin (VUL), which users can reinvest, sell, or trade for gVUL, a governance coin that includes platform governance voting rights.
While the ease of making passive income through crypto staking has attracted attention from regulatory bodies such as the U.S. Securities and Exchange Commission, Bryan Legend’s BARS concept addresses this challenge and provides a way around this through its native auto-staking feature.
In addition, there are three other methods that platform users can utilize to earn passive income: Fixed, Flex, and PowerPool.
Fixed is the platform’s 44% annual percentage rate that’s automatically distributed to all users who hold VUL. This means all users can access a high APR without commitment; VUL can be converted and withdrawn at any time.
Next up is Flex, which distributes 1% of fees from all VUL transactions accumulated during a 24-hour period across all users who hold a minimum of VUL 1 in their wallet. The amount that users are rewarded is proportionate to their VUL holding as a percentage of the total supply.
Finally, PowerPool is a 30-day cumulative total of unclaimed daily Flex rewards that can be claimed by active Vulcan platform users who’ve claimed their daily Flex reward for the full 30 days. This encourages continued participation in the platform and on-chain activity for node operator rewards.