Post
Topic
Board Tokens (Altcoins)
Re: [ANN][vSPACEX] vSPACEX by ItoVault | Defi Pre-IPO Token Pegged to SpaceX
by
itovault
on 29/03/2021, 23:14:46 UTC
Great question -- this is a good chance to explain how vSpaceX works. 

vSpaceX represents *debt* issue by vaults that hold Ethereum.  This is exactly the same model as how DAI works with MakerDAO.  This means that there is no theoretical upper bound in the number of vSPACEX tokens that can exist -- just like there is no upper bound on DAI. 

The value of vSPACEX tokens is obtained from the ETH in vaults, and the fact that after SpaceX IPOs, the tokens will settle to the SpaceX value.

If you want to buy a token related to ItoVault that has a max supply and will only decrease over time, you should wait for a potential ItoVault Token to be distributed!