Vauld Unveils it’s Origin and Roadmap Ahead
Vauld is a cryptocurrency based lending and Decentralized Finance (DeFi) platform. Vauld was previously called the Bank of Hodlers (BoH). It is a cryptocurrency bank that provides its users with all the banking services like borrowing, lending, owning, trading, and spending crypto.
While the users hold their funds in this crypto bank, they can ensure complete security about their digital assets. Vauld provides credit cards backed by crypto assets which can be used as a form of exchange for goods in the marketplace.
When the user deposits funds into their wallet, it goes to a centralized pool. From this centralized pool, the funds can be allocated for lending and trading. When the funds are allocated for lending, it is lent out to borrowers and the users can earn interest from it. The loans are risk-free and are overcollateralized by 150% and repaid within 30 days.
When the funds are allocated for trading, they are stored in a trusted cryptocurrency exchange to facilitate trading. Currently, this platform supports Binance Exchange. Trading at Vauld is quite easier and more beneficial these days. It is because the exchange fees at Vauld is reduced to 0.05% from 0.1%.
Vauld Roadmap
Vauld offers a holistic banking system for crypto and FIAT currencies. The platform connects the scattered economies of various cryptocurrencies and connects them to the global economy to enhance the value to crypto users. Vauld was launched in 2018 with the name Bank of Hodlers (BoH). The platform in 2018 had secure Bitcoin and Ethereum Wallets. Later, they also supported lending and borrowing for both P2P and centralized pool.
In the second half of 2019, the platform had a major website revamp, supported instant token swap, and generated enterprise APIs for wallets, lending, and borrowing. In the fourth quarter of 2019, Vauld launched FIAT rails in INR and initiated instant BUY and SELL in INR. In 2020, Vauld generated enterprise APIs for INR Fiat rails and launched its mobile application for both android and iOS mobile phones. In the second quarter of 2020, Bank of Hodlers was renamed as Vauld. The platform is wide-spread across various countries and is looking forward to expanding its reach in Europe, the U.S., and India.
Future Plans
Vauld is growing it’s network day-by-day with the launch of various new features. Some of them are on their to-do lists for the future:
- Offer easy payment facilities with the launch of Credit and Debit cards.
- Offer FIAT rails in USD, GBP, EUR, SGD, and other major currencies.
- Initiate cross token payments and cross border remittances.
- Bank accounts
Fundraising
Vauld raised $2 million approximately Rs.15 cr to expand its operations in India and abroad. Nearly $500 thousand is invested in the company by Singapore’s LuneX Ventures and a few Indian angel investors in June. Pantera Capital, Coinbase Ventures, CMT digital, Gumi Cryptos Capital, LuneX Ventures, Robert Leshner (Compound Finance CEO), and Tarun Chaitra’s Robot Ventures, CoinShares, Better Capital, New Form Capital, Jesus Rodrigues (IntoTheBlock CEO), and others invested in this round. This funding round is it’s second fundraiser this year.
Referral Program
Vauld’s referral program is all about Start Sharing, Start Earning features. Users can share their referral links with their friends and once he/she performs an action on the Vauld application, the user can earn rewards in the form of commission. Each user can earn 40% of the fees on each trade, 5% of the interest paid out on the assets, and 5% of the interest accrued on loans.
Vauld is a crypto bank that offers human-centric customer support where all the users can call their customer support anytime and get their queries resolved on their Telegram channel as well. The users can find a dedicated account manager for a $1,000 or more deposit. This account manager will help the users earn maximum interest and rewards.
Vauld’s referral program is a lucrative one as it allows its users to create campaigns and use kickback options.
Final Word
Vauld is a platform that aligns its business, product, and tech goals to offer a delightful experience to all its customers. Vauld offers the best interest rates and trading fees among all its competitors. Each user can earn up to 11.57% on their cryptocurrencies and borrow tokens with a spread of just 1%.
Vauld offers seamless product experiences, follows transparent business practices, improves its ecosystem, and understands its customer needs very well. Users can have a smooth crypto journey with Vauld. Users can register with Vauld and begin exploring the platform. They can also join their exciting referral program to earn great rewards. To learn more about the platform, users can join their Telegram channel as well.
