The Vulcan Blockchain project aims to bring decentralized finance (DeFi) to all areas of the blockchain. It is based on the idea of the Roman god of fire and the forge, and its name symbolizes this. Vulcan is built using auto-rebinding, auto-staking, and auto-compounding technology, allowing projects to implement DeFi tokenomics from the very beginning.

To maintain sustainability, Vulcan has implemented a burn mechanism called the Fire Pit, which reduces the overall supply of coins and rebases the balance of the Fire Pit every 15 minutes. The project is committed to being transparent and has implemented a DAO voting structure for token holders to vote on Vulcan Improvement Proposals (VIPs).

Additionally, the Vulcan Blockchain uses a Proof of Authority (PoA) consensus, which is a more environmentally friendly alternative to the traditional Proof of Work (PoW) consensus used by other blockchains like Bitcoin.

The Ethereum Extravaganza

The Ethereum Extravaganza is a promotional event organized by Vulcan Blockchain, a new blockchain platform that utilizes the auto-rebase technology. The event is aimed at providing an opportunity for participants to secure the native coin of the Vulcan Blockchain, $VUL, by sacrificing their Ethereum (ETH) before the launch of the Mainnet.

The event runs from January 9th until February 20th, and participants can earn bonus $VUL coins based on the amount of ETH they sacrifice. There is a tiered structure for the bonuses, with the more ETH a participant sacrifices, the more rewards they’ll receive. At the end of the promotion, all participants will receive rewards based on the highest tier reached.

The Ethereum Extravaganza requires participants to sacrifice their ETH during the specified time frame. Only ETH is accepted as the currency for this event. The Ethereum Extravaganza smart contract will be disabled at the end of the event on February 20th. The rebasing rate for $VUL is 191,888% APY and will cease on January 20th. From January 21st, any Ethereum sacrificed will still be eligible for the standard $VUL rate plus the tiered unlock bonus.

Link: https://www.vulcanblockchain.com/