Why Was VNST Established?

VNST was established with the objective of addressing challenges related to transparency in asset reserves within the stablecoin market, particularly in the Vietnamese market. To instill trust and broaden the applications of stablecoins, providing transparent reports and audits regarding reserve amounts is a crucial factor in ensuring the value of a stablecoin.

VNST is collateralized by BoS, and BoS routinely publishes reports on their assets daily. Based on this, users can review not only VNST's reserve assets but also the entire reserve assets of BoS – serving as VNST's reserve. This transparency provides the utmost clarity for VNST users to trust.

Furthermore, VNST completely resolves the issue of using foreign currencies in the Vietnamese market. Assuming users are residing in Vietnam and have to use USD for transactions, service exchanges, and goods, they encounter challenges such as:

  • Dependency on global market conditions and policies, with fluctuations in the value of USD influenced by changes in the global economic and political landscape.

  • Difficulties and inconvenience in pricing goods and services, making the calculation process complex and time-consuming.

Instead of relying on USD-pegged stablecoins in the Vietnamese market, VNST offers users a new solution. Users can convert VNST at market rates, using stable cryptocurrencies like VNST, which can help users in Vietnam price and calculate more easily than ever before. This brings a novel and distinctive experience within the user community in the Vietnamese market.

Moreover, the cryptocurrency market in Vietnam is vibrant, with many projects and strong development teams. Despite this, the Vietnamese market still fails to showcase its unique identity as all transactions are conducted through USD.

However, with the flexible adaptability of cryptocurrency assets, combining it with the "Vietnamese" factor through VNST can unleash the potential for the digital asset market in Vietnam. This can assert the Vietnamese market's position and demand for cryptocurrency on the global stage.

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