VXL token governance supports long-term project objectives and provides financial stability, making VXL attractive to the larger crypto market and communities.
VXL tokens were distributed at launch across team members and liquidity pools with a focus on supporting investment, growth initiatives, and partnership formation, all while limiting the effects of volatility at launch caused by “whales”.
VXL team members and many holders voluntarily locked their token allocations on launch between 90–365 days, intending to bolster market confidence and maintain price stability while the token achieves wider market distribution, many wallets has since matured.
In keeping with the project’s commitment to transparency, operational security, and decentralization, VXL adopted the use of Gnosis Safe multi-signature (MultiSig) wallets for smart contract enhanced security.
Gnosis MultiSig wallets allow assignment of privileged roles to designated persons, preventing private key compromise and eliminating single points of failure. VXL’s 4/10 MultiSig wallets can only be opened when four of ten assigned team members vote to approve a transaction, and all transactions are recorded internally. VXL is able to designate specific beneficiaries for payment, set spending limits for specific assets, and create time windows within which transactions must take place. In the case of personnel turnover, MultiSig wallets also allow privileged role transfer to new members.