VNST Protocol

HOW VNST WORKS

The VNST technology layer consists of three interconnected layers, each of which serves a specific purpose in the ecosystem:

MultiChain

Developed from the two networks with the leading market capitalization, TON and BNB Chain, VNST brings the ability to expand applications especially on Jettons standards on TON and BEP-20 on BNB Chain.

BEP20 - BNB Chain

  • VNST is deployed on BNB Chain's BEP-20 network to bring an optimal user experience, with low transaction fees, a secure network, and familiarity in the digital asset community. BNB Chain is currently the second-largest blockchain in the world in terms of transaction volume.

  • In the future, the VNST team will take advantage of BNB Chain to bring VNST deeply into the DeFi ecosystem on BSC, supporting fast transactions and easily integrating with centralized and decentralized exchanges using the BEP-20 standard.

Jettons - The Open Network

  • In addition to deploying on BNB Chain's BEP-20 network, VNST is also developed on the Jettons standard of the TON network (The Open Network). TON is a high-performance blockchain, designed to process transactions quickly with low costs and superior scalability. With the Jettons standard, VNST takes advantage of TON's superior features to provide a smooth, secure and efficient transaction experience for users. The TON network stands out with its ability to process thousands of transactions per second, helping VNST ensure near-instantaneous transaction speeds while maintaining optimal fees.

  • In the future, the VNST team aims to integrate more deeply into the TON ecosystem, allowing users to participate in decentralized applications (DApps) and decentralized financial services (DeFi) on TON. This will open up opportunities for VNST users to take advantage of the network's advanced features, such as staking, digital asset management, and integration with new trading platforms that support the Jettons standard, thereby increasing VNST's flexibility and utility in the digital asset market.

With the goal of expanding to different networks such as Jettons and BEP-20, VNST is ready to become an important part of both BNB Chain and The Open Network specifically for Vietnamese users, while opening up opportunities for diverse uses and unlimited potential for the development of the digital asset community. VNST will continue to expand to more networks to expand the application and diversity for users.

Mint and Redeem VNST: The VNST protocol allows users to perform conversion activities after accessing VNST.io and connecting their Wallets. These activities include:

  1. VNST mint mechanism:

Mint VNST from USDT: Users deposit USDT into the system to exchange for VNST. The system operates based on two balance pools: USDT pool and VNST pool. When users add USDT to the USDT pool, a corresponding amount of VNST will be automatically generated (minted) and added to the VNST pool. These two pools are always maintained in balance based on the price balance mechanism, ensuring a stable and transparent conversion rate, bringing a smooth experience to users.

Mint VNST from BoT (BTC, vBTC, ETH, BNB): With digital assets in the BoT group, users deposit tokens such as BTC, vBTC, ETH, or BNB into the platform. These tokens will be swapped to USDT via Uniswap with PancakeSwap. The USDT collected will then be used to mint VNST, following the process of minting VNST from USDT as explained above. USDT acts as collateral, ensuring that the VNST always has a stable and reliable value.

  1. Redeeming VNST will reduce the circulating supply of VNST, and the amount of redeemed VNST will be burned from the circulating supply to avoid digital asset inflation.

  2. Check all transaction history, smart contracts, and execution time at that time.

Check and Report VNST Circulation Amount

VNST protocol provides the ability to check and report the amount of VNST circulating in the system, including:

  1. Total amount of VNST issued (Minted)

  2. Total amount of VNST recovered (Redeemed)

  3. Total transactions made

  4. Total number of Wallets holding VNST

  5. Total fees recovered (Redeem) in Operation Pool

This helps users and investors monitor and evaluate the supply status and usage of VNST in real time.

Merchant System: is a system of Trading Partners, Partners supporting liquidity, and creating an ecosystem for VNST:

  • Spot, Swap, Future Trading of Digital asset Pairs on VNST:

The Trading Partner System helps users perform various types of transactions such as Spot, Swap, and Future trading on digital asset pairs using VNST. This facilitates participation in various trading activities, from basic trading to advanced trading strategies.

  • Support for VNST Deposit and Withdrawal to Fiat:

An important part of the Trading Partner system is the ability to support users in depositing and withdrawing VNST to traditional currencies. This helps create a strong link between the world of digital asset and fiat money, creating a foundation for the use of VNST in everyday life.

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