[PRESS RELEASE – Calabasas, CA, United States, 18th July 2022]
ViralCoin, an emerging cryptocurrency project centered around subscription payments and price stability, has revealed the details of its novel stabilization mechanism. According to the founder of ViralCoin, James McLendon, ViralVault uses on-chain arbitrage to keep the contract price relatively stable, regardless of crypto market conditions.
“If the price of VIRAL increases too much, ViralVault creates additional VIRAL and transfers the newly created VIRAL to the liquidity pool. Similarly, if the VIRAL price drops too much, ViralVault buys the excess VIRAL and burns it to rebalance the price,” explains McLendon.
According to the founder of the project, there is no incentive to sell or exit early as the price of the token is the same for all users, regardless of where they bought it. “With ViralCoin, holders earn 3% reflection on each transaction on the network. And the price maintains stability, resulting in peace of mind as their viral balance will continue to grow without a drastic drop in the market value of the cryptocurrency.
He added: “This design allows holders to focus on increasing their VIRAL balances, rather than focusing on price volatility like many other tokens. ViralCoin can be classified as a bear, a bull or a phenomenal one. Designed to succeed in the market place.”
ViralCoin is designed to be the gold standard for crypto subscription payments. The holders of Viral can pay for their recurring subscriptions for various services, simply by spending the additional balance earned by them. As McLendon explains, “We’ve re-imagined how subscriptions should work, eliminating the need to constantly replenish account balances. This is a huge paradigm shift for subscription payments.”
The ViralCoin smart contracts have mechanisms that operate on seven EVM networks to allow “gas stations” to be set up. This enables holders to pay for subscriptions with VIRAL instead of using the network’s primary token (such as ETH, MATIC, or BNB). “It’s ridiculous to need a gas token like ETH to spend another token you already have,” McLendon said. “This is why viral gas stations are important to the subscription industry and will allow us to protect ourselves in a bear market.”
ViralCoin is currently raising $10 million USDC for an extended three-year outreach campaign to bring awareness, utility and community development, making Viral the de facto token of the crypto subscription industry.
About ViralCoin
ViralCoin is a blockchain-based cryptocurrency project. By combining native VIRAL tokens, a highly engaged community, and Viral Wallet, the project is committed to making cryptocurrency subscription payments more accessible in everyday life.
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