VNX Swiss Franc

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Discover VNX Swiss Franc's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is VNX Swiss Franc?

VNX Swiss Franc (VCHF) is a stablecoin that tracks the price of the Swiss Franc. It is a multichain token issued by VNX Commodities, a company registered with the Liechtenstein Financial Market Authority, and is backed by tokenized gold. VCHF can be used for hedging, trading, and earning on various exchanges and platforms.

How is VNX Swiss Franc used?

The VNX Swiss Franc (VCHF) is a stablecoin that tracks the price of the Swiss franc and is backed by tokenized gold. It can be used in various ways:

  • Hedging: Hold VCHF to hedge against crypto volatility and avoid losses during market declines.
  • Trading: Buy and sell digital assets quickly on centralized exchanges (CEXs) and decentralized exchanges (DEXs).
  • Earning: Utilize investment opportunities such as lending, providing liquidity, staking, and other options in both centralized finance (CeFi) and decentralized finance (DeFi).
  • Transferring: Send and receive VCHF instantly to wallets compatible with supported blockchains or transfer seamlessly between different blockchain protocols.

How do I store VNX Swiss Franc?

To store VNX Swiss Franc (VCHF) tokens safely, it is recommended to use a cold wallet, which is a wallet that is completely offline. This type of wallet provides the highest level of security against potential hacks and unauthorized access. Cold wallets are designed to store your tokens securely, away from the internet, ensuring that your assets remain protected.

How to buy VNX Swiss Franc?

To buy VNX Swiss Franc (VCHF) tokens, you can follow these steps:

  1. Choose an Exchange: VCHF tokens can be traded on both decentralized exchanges (DEXs) and centralized crypto exchanges. Popular options include Raydium (CLMM), Orca, and XT.COM.

  2. Set Up Your Wallet: Ensure you have a compatible wallet to store your VCHF tokens. You can use MetaMask, which supports multiple blockchain protocols. To add VCHF to MetaMask, you can import the token contract address (0x79d4f0232a66c4c91b89c76362016a1707cfbf4f) manually or use MetaMask's chrome extension.

  3. Fund Your Wallet: Deposit the necessary funds into your wallet. You can use fiat currencies or other cryptocurrencies to purchase VCHF tokens.

  1. Place Your Order: Navigate to the exchange you have chosen and place a buy order for VCHF tokens. You can select the desired amount and set the price you are willing to pay.

  2. Store Your Tokens Safely: After purchasing VCHF tokens, it is recommended to store them in a secure wallet. Cold wallets, such as paper wallets or hardware wallets, are considered the safest option to protect your assets from potential hacks or exchange shutdowns.

By following these steps, you can successfully buy and manage your VNX Swiss Franc (VCHF) tokens.

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History of VNX Swiss Franc

The history of VNX Swiss Franc (VCHF) is not extensively documented, but it can be pieced together from various sources. VCHF is a stablecoin issued by VNX, a company based in Liechtenstein. The token is pegged to the value of the Swiss franc and is backed by tokenized gold, ensuring a stable value.

VNX Swiss Franc was launched as a "fiat referencing token" (FRT), a model designed to maintain a consistent price with its pegged asset, the Swiss franc. This stability makes it useful for hedging against cryptocurrency market volatility and for trading digital assets.

The token is part of VNX's broader offerings, which include other fiat-referencing tokens like VEUR, pegged to the euro. VCHF is multichain, initially released on Ethereum and Q blockchains, with plans to integrate into other chains to meet the evolving needs of users.

VCHF can be used for various purposes, including hedging against market declines, trading digital assets, earning through lending and staking, and transferring assets seamlessly between blockchain protocols. The token's reliability is ensured by VNX Commodities, which is licensed under the Blockchain Act by the Financial Market Authority Liechtenstein (FMA).

While the exact launch date is not specified, VCHF is recognized as Europe's first stablecoin referencing the Swiss franc, indicating its pioneering role in the digital asset space.

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How VNX Swiss Franc works

The VNX Swiss Franc (VCHF) is a stablecoin that is pegged to the value of the Swiss Franc. It is a digital token that allows users to buy, sell, and manage transactions in the crypto world, referencing the traditional Swiss Franc. Here is how it works:

Token Generation and Regulation

VCHF is generated by VNX Commodities, a company registered with the Financial Market Authority (FMA) of Liechtenstein under the Tokens and TT Services Providers Law (TVTG). This registration ensures that the token is issued and managed in compliance with the regulatory framework of Liechtenstein.

Multichain Support

VCHF is a multichain token, initially released on the Ethereum and Q blockchains. This means it can be used across different blockchain protocols, allowing users to transfer and manage their tokens seamlessly.

Stability and Reliability

The VCHF token is backed by allocated physical precious metals, ensuring that its value remains stable and reliable. This stability makes it an attractive option for hedging against crypto volatility and for use in various investment opportunities such as lending, providing liquidity, and staking.

Trading and Investment

VCHF can be traded on various exchanges, including Bitstamp, allowing users to easily buy and sell the token. It can also be used for trading digital assets on centralized and decentralized exchanges (CEXs and DEXs).

Use Cases

The VCHF token offers several use cases, including:

  • Hedging: Holding VCHF to hedge against crypto market volatility and avoid losses during market declines.
  • Trading: Buying and selling digital assets quickly on CEXs and DEXs.
  • Earning: Participating in various investment opportunities such as lending, providing liquidity, and staking.
  • Transferring: Sending and receiving tokens instantly between compatible wallets and blockchain protocols.
Integration with Other Networks

VCHF is integrated with several blockchain networks, including Stellar, Avalanche, and Polygon, expanding its reach and usability across different ecosystems.

Overall, the VNX Swiss Franc (VCHF) provides a reliable and stable digital asset that bridges the gap between traditional fiat currencies and cryptocurrencies, supporting financial inclusion and mainstream adoption of cryptocurrencies.

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VNX Swiss Franc's strengths

The VNX Swiss Franc (VCHF) token has several strengths that make it a reliable and stable asset in the cryptocurrency market.

Stability and Reliability

VCHF is a stablecoin that tracks the price of the Swiss franc, ensuring a stable value. It is backed by VNX’s digital gold token, VNXAU, which is further backed by physical gold held in reserve. This tokenization model provides a high level of reliability and stability, making it an attractive option for traders and investors looking to hedge against market volatility.

Regulatory Compliance

VNX, the company issuing VCHF, is registered with the Financial Market Authority (FMA) of Liechtenstein under the law on blockchain. This regulatory compliance adds to the token’s credibility and trustworthiness, especially in the European market.

Multichain Compatibility

VCHF is a multichain token, initially released on the Ethereum and Q blockchains, with plans to integrate into other chains. This multichain compatibility makes it accessible to a broader user base and allows for seamless transactions across different blockchain protocols.

Investment Opportunities

VCHF offers various investment opportunities, including lending, providing liquidity, staking, and trading. It can be used to hedge against crypto volatility, buy and sell digital assets, and earn returns through different investment strategies.

Accessibility

VCHF is listed on the crypto-exchange Bitstamp, making it easily accessible for global users to buy or sell in exchange for traditional currencies or cryptocurrencies. This accessibility contributes to its widespread adoption and use in the cryptocurrency market.

Overall, the VNX Swiss Franc (VCHF) token's strengths lie in its stability, regulatory compliance, multichain compatibility, investment opportunities, and accessibility, making it a reliable and attractive asset for investors and traders.

VNX Swiss Franc's risks

The financial risks associated with VNX Swiss Franc (VCHF) primarily revolve around its unique design and the underlying assets that back it. Here are some key risks to consider:

  1. Collateralization Risk: VCHF is backed by VNX’s digital gold token, VNXAU, which is in turn collateralized by physical gold held in reserve. This means that any fluctuations in the price of gold could impact the value of VCHF. Additionally, the management of these reserves and the potential for mismanagement could lead to losses.

  2. Regulatory Risks: Although VNX is registered with the Financial Market Authority (FMA) in Liechtenstein, changes in regulatory environments or stricter enforcement could affect the token’s operations and value.

  3. Market Volatility: As a stablecoin, VCHF is designed to track the price of the Swiss franc. However, if the Swiss franc experiences significant fluctuations, this could impact the stability of VCHF.

  1. Counterparty Risk: VCHF is issued by VNX, which means that investors are exposed to the risk of VNX defaulting or failing to maintain the token’s value.

  2. Liquidity Risks: The liquidity of VCHF could be affected by market conditions, trading volumes, and the availability of the token on different exchanges. Low liquidity could make it difficult to buy or sell the token quickly and at a favorable price.

  3. Security Risks: As with any digital asset, VCHF is vulnerable to cybersecurity threats, such as hacking or theft. If the token’s underlying infrastructure is compromised, investors could lose their assets.

  1. Multichain Integration Risks: VCHF is designed to operate on multiple blockchains. Any technical issues or incompatibilities during the integration process could impact the token’s functionality and value.

These risks highlight the importance of thorough research and due diligence before investing in VCHF or any other cryptocurrency.

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Did VNX Swiss Franc raise funds?

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VNX Swiss Franc’s team

  • Alexander Tkachenko: CEO and founder of VNX, the company behind the VNX Swiss Franc (VCHF) stablecoin.
  • Denelle Dixon: CEO of the Stellar Development Foundation, which supports the Stellar network where VNX stablecoins are issued.
  • Jean-Baptiste Graftieaux: CEO of Bitstamp, the crypto-exchange where VNX stablecoins are listed.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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