2021 brought plenty of people into crypto, and even in the bear market, their number grows. Dogecoin and Shiba Inu, two popular meme tokens, showed incredible growth in the past years, and now the crypto community is wondering what can be the next Moon rocket. The Volt Inu team claims they are ready to repeat history. In this guide, ChangeHero reviews Volt Inu and VOLT to learn how true is this claim.
What is Volt Inu?
According to official sources, Volt Inu is a token-powered DeFi platform that lets users capitalize on diverse asset classes such as NFTs, stablecoin farming and taking, altcoins, and more.
Another characteristic feature of the token VOLT is its hyper-deflationary model. It is achieved through a variety of mechanisms, such as burn tax and buybacks to burn. The effort is so enforced that in less than a year on the crypto market, 21% of the total supply of VOLT has already been burned.
How Does Volt Inu Work?
The pitch of Volt Inu sounds pretty complicated, but it’s actually rather straightforward. Every transaction with the smart contract of the VOLT token incurs a 1% reflection, which is redistributed to all users. Consequently, you would benefit from all activities in the Volt Inu ecosystem, even if you do not take part in them directly. Additionally, the use cases improve the overall value of the platform.
History and Team of Volt Inu
Volt Inu’s history began in December 2021, which makes it a relatively new project on the crypto scene. Since then, its estimated holder number grew to over 15 thousand on Ethereum and there are some 36 thousand active addresses on BSC.
In April 2022, Volt Inu migrated to a new contract to amend the total supply of tokens. Prior to migration, the astronomical number of tokens in circulation (69✕10^21) was a hindrance to passing listing requirements. To make the contract accessible to more users, the team opted to redenominate it and divide its total supply by 1 billion.
The team behind Volt Inu is fully anonymous, which was the intention, to see how far it can reach in the crypto space. The public figure doing most of the communication directly from the team is the developer Voltoshi. But Voltoshi is not the only one doing all the outreach: the team collaborates with plenty of influencers and creators to have them talk about updates and prospects of Volt Inu.
What is VOLT?
The Volt Inu ecosystem is powered by the VOLT token. After the migration, the total supply of VOLT is 69 trillion tokens in both contracts. However, the actual, circulating supply is shrinking every day due to the tokenomics of VOLT.
- 1% of each transaction gets reflected — redistributed to the rest of the users;
- 4% goes to marketing and development;
- Another 4% goes to the treasury. It is used for buybacks and manual burns;
- Another 4% on BSC and 2% on Ethereum get burned. On Ethereum, an extra 2% to restore parity with the BSC contract is locked to the liquidity pool.
How to Use VOLT?
According to the white paper, VOLT covers quite a lot of use cases. Some of them currently available are:
- Volt Inu 2D Racers, a browser Play-to-earn game;
- NFT launchpad and ecosystem, Volted Dragons Sailors Club is already active;
- DEX VOLT|change and project launchpad coming soon.
Moreover, additional use cases for VOLT are supported by some of the project’s partners:
- Shop with Crypto Cart and Shopping.io;
- Plug into other ecosystems with Everrise and Okay Let’s Go bridges.
Volt Inu and Similar Projects
Dogecoin may have inspired the “dog money” trend, but the assets that came from it are very different from the original. One of the more similar to Volt Inu coins is Shiba Inu. It also describes itself as a community-run project with an anonymous developer. SHIB has been around for longer than VOLT and, as expected, managed to score more markets, collaborations, and roadmap milestones.
Another competitor to Volt Inu is Pitbull. The two contracts have tokenomics similar in principle, with reflections and aggressive token burning, differing in technicalities. A major difference between the projects is that the Pitbull leadership is not anonymous.
Is Volt Inu Safe to Use?
Solidity Finance held the audit for both the ERC-20 and BEP-20 contracts of Volt Inu to provide you with an answer. Some of their findings are as follows:
- There are no inherent to the contract burn or mint functions; burning is performed by sending VOLT to a dead address;
- Code suggestions were promptly resolved before the migration to a new contract;
- In regard to external threats, both contracts passed with flying colors, except for vulnerability to the centralization of control. According to the audit, the contract owner can edit some of the functions of the smart contract, as well as access the treasury and dev wallet.
Overall, the security of the contract has been ruled to be sound. They concluded that Volt Inu itself is safe to use but it is not entirely trustless.
What is Volt Inu’s Future?
Volt Inu’s team has big plans for the future, though they focus on what has already been achieved in the roadmap. What is left to be checked off the list?
- Treasury staking and farming to capitalize on the 4% of the circulation;
- A system to reward VOLT holders for social activities and manual VOLT burning;
- VOLT|change and incubator, already mentioned above.
The decentralized exchange VOLT|change is as close to launch as it gets, as of the time of writing. It’s not a simple interface to trade crypto tokens but also acts as a source of additional token burn and boasts permissionless listing.
Volt Inu on Twitter
#VOLTICHANGE MVP 2: $DOGE
— coinMummy (@mummy_coin) November 6, 2022
The OG of #memecoins, what can you say about #DOGE? None of us would be here had they not scratched their way to the top! #DogeArmy has the strongest #DiamondHands out there but sometimes you might still wanna swing trade in #DEFI
How about at a limit? pic.twitter.com/uOSpCogbnT
User coinMunny highlights the DOGE integration to the VOLT|change. And is that a limit order function we see there?
Elon making direct contact with the $VOLT community
— Murfski (@Murfski_) November 6, 2022
Doggy coin season looming upon us?
⚡️ Probably nothing ⚡️ https://t.co/9maw3ZMaZ9
Lightning emoji and the “power to the people” motto are something very common in the Volt Inu lingo. Imagine their reaction when Elon Musk posted this? Well, you can actually see one above.
You can now BURN $VOLT INU tokens using my website!
— RichSkies (@RichSkiesYT) November 5, 2022
1. Listen to music (100% of profits are burned)
2. Play arcade games (80% of profits are burned)
All available to you for 100% FREE!
Head to https://t.co/DsbBJM6oKw and select #VOLTINU
Programmatic burn is fine but what is even better is the community initiatives like Jake Call’s one. The more you stream or play for free, the more VOLT gets burned.
Which VOLT Wallet to Choose?
There are a few ways to store the Volt Inu token. As Ethereum and BSC tokens, it is widely supported in multi-coin and browser extension wallet apps. So a few options are Guarda Wallet, Trust Wallet, Metamask, and BSC Wallet.
Always remember to make sure you are using the right blockchain! Addresses on Ethereum and BSC may look the same but they aren’t, and sending funds in one network will not be reflected on the other.
How To Buy Volt Inu On Changehero?
Now you can buy Volt Inu with other cryptocurrencies on ChangeHero in five easy steps:
- Choose the currencies on the home page, amounts, and the type of exchange. Provide your wallet address in the next step and check the amounts;
- Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
- Send in a single transaction the sum of the cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
- And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
- As soon as the exchange has been processed, your VOLT is on its way to your wallet. We’ll be happy to hear your feedback if you enjoyed using ChangeHero!
Customer support is always available in chat on our website, official Telegram group, or through the email: [email protected].
Conclusion
Even though VOLT is just under a year old, it steadily and surely grows. Now the question is, will they keep up and deliver a robust ecosystem going forward?
For more guides and news about Volt Inu and other crypto projects, keep an eye on our blog and subscribe to ChangeHero on social media: Twitter, Facebook, Reddit, and Telegram.
