VGX Token PriceVGX

What is VGX Token (VGX)?

VGX Token (VGX) is an ERC-20 utility token that operates on the Ethereum blockchain. It was originally created to power the Voyager centralized brokerage ecosystem, rewarding users and incentivizing activity within the Voyager mobile application. The token is the result of a merger between the original VGX token and the LGO token, completed in August 2021. Today, the VGX ecosystem is managed by the VGX Foundation, which operates independently of Voyager Digital. VGX is used for staking rewards, cashback incentives, and access to exclusive services. With a circulating supply of approximately 916.74 million tokens and no maximum supply, VGX remains listed on a number of markets, though trading activity is limited; see the live data panel for current volume. Its market capitalization and price have declined significantly from historical peaks.

Key Specifications & Tokenomics

• Name: VGX Token (Voyager Token)
• Symbol / Ticker: VGX
• Blockchain / Platform: Ethereum (ERC-20)
• Consensus Mechanism: Proof of Stake (inherited from Ethereum network)
• Smart Contracts: Yes, ERC-20 standard and purpose-built smart contracts for routing
• Category: Utility Token, Brokerage Ecosystem
• Start Date: 2017-07-18
• Official Website: https://www.vgxfoundation.com/
• Whitepaper: https://drive.google.com/file/d/12_Q5iZGYYO8rQ72iRdr0AtyyOaQwg6gR/view?usp=sharing
• Contract Address (Ethereum): 0x3C4B6E6e1eA3D4863700D7F76b36B7f3D3f13E3d (viewable on Etherscan)
• Circulating Supply: Approximately 916.74 million VGX
• Total Supply: Approximately 916.74 million VGX
• Max Supply: No maximum supply

VGX is quoted against major fiat currencies including USD, EUR, GBP, AUD, and KRW on various exchanges.

Who created VGX Token (VGX)?

VGX Token was created by the team behind Voyager Digital, a cryptocurrency brokerage firm. Voyager Digital was founded by Stephen Ehrlich (formerly CEO of Tradier), Philip Eytan (co-founder of Pager), and Oscar Salazar (co-founder and founding CTO of Uber), with Gaspard de Dreuzy also listed as a co-founder. Philip Eytan also served as Chairman of the Voyager Foundation and brought experience from Morgan Stanley and Cerberus Capital. In 2019, the Voyager and Ethos teams agreed to a transaction to combine their technology, and VGX was developed by combining developers from the ETHOS token and Voyager. Following the bankruptcy of Voyager Digital, the VGX ecosystem transitioned to management by the VGX Foundation, which now oversees its development and community initiatives independently.

How does VGX Token (VGX) work?

VGX operates as an ERC-20 token on the Ethereum network, leveraging Ethereum's well-tested cryptographic standards, including public-key cryptography and elliptic key cryptography, to provide a high level of security. The token functions within the Voyager ecosystem, which is a mobile broker application available on iOS and Android. The Voyager Smart Order Router, as described in project materials, was designed to search across 12 supported exchanges to find better prices; the platform has not operated since the 2022 bankruptcy. The token itself is used to reward users, generate interest when held in the Voyager app, and offer cashback rewards. According to the project's whitepaper, VGX 2.0 was designed to enhance platform adoption and functionality through improved utility features.

What makes VGX Token (VGX) unique and valuable?

VGX Token's primary value proposition stems from its integration into the Voyager brokerage ecosystem, which aimed to offer a transparent and cost-effective alternative for trading crypto assets. Voyager marketed itself as one of the few broker apps offering compound interest on holdings without locking up cash. Before its bankruptcy in July 2022, the Voyager app charged no investing fees and let users earn compound interest on more than 30 cryptocurrencies, including Bitcoin, Ethereum, Polkadot, and Dash. The Voyager Smart Order Router provided a technological advantage by linking customers to multiple exchanges and taking advantage of pricing disparities. Additionally, the token merger with LGO in 2021 created a new VGX with expanded utility, aiming to reward users through staking and loyalty programs. Despite these features, the project has faced significant challenges, including the bankruptcy of Voyager Digital and a substantial decline in token price.

What is VGX Token (VGX) used for?

VGX Token serves multiple functions within its ecosystem. Primarily, it is used to reward users within the Voyager app and the Voyager Loyalty Program. Project materials stated that VGX held in the Voyager app generated 5% interest; this applied to the Voyager app, which ceased operating after the 2022 bankruptcy. The token also offers cashback rewards and access to other exclusive services for Voyager users. Coinbase's description states that VGX holders can earn staking rewards; the project materials do not detail the reward source or whether this remains active. Following the bankruptcy of Voyager Digital, the VGX Foundation acquired a significant number of VGX tokens and began offering them as rewards on gaming platforms, extending the token's utility beyond the original brokerage application. After the Voyager bankruptcy, the VGX Foundation has made strategic grants to Web3 gaming companies to integrate VGX into play-to-earn models, including Voyager: Ascension, Genopets, and Honeyland. The token connects users to various cryptocurrency exchanges and markets through purpose-built smart contracts.

How Is the VGX Token ecosystem developing?

The VGX ecosystem has undergone significant changes since its inception. Initially launched as part of Voyager Digital's brokerage services, the ecosystem expanded with the acquisition of LGO Europe SAS in December 2020 and the subsequent token merger in August 2021, which combined the original VGX and LGO tokens into a new VGX. In August 2021, Voyager completed one of the crypto industry's largest token swaps, converting the original VGX and LGO tokens into a new VGX. The launch of the VGX 2.0 whitepaper signaled an evolution in how the native token would interface with and reward customers. However, in early July 2022, Voyager Digital and two affiliates filed for Chapter 11 bankruptcy protection. Voyager's July 2022 press release stated that account holders would receive a combination of cryptocurrencies, proceeds from the 3AC recovery, common shares in a reorganised company, and VGX tokens, subject to court approval. Following this event, the VGX ecosystem transitioned to management by the VGX Foundation, which now operates independently. The VGX Foundation has since focused on offering VGX tokens as rewards on gaming platforms, marking a shift in the token's application and community engagement strategy.

How to mine VGX Token (VGX)?

VGX Token cannot be mined in the traditional sense, as it is an ERC-20 token built on the Ethereum network, which transitioned to a Proof of Stake consensus mechanism. Instead of mining, users can earn VGX through staking rewards. Project materials stated that VGX held in the Voyager app generated 5% interest; this applied to the Voyager app, which ceased operating after the 2022 bankruptcy. This staking mechanism incentivizes users to hold their tokens within the ecosystem rather than trading them. The VGX Foundation has also distributed tokens as rewards on gaming platforms, providing an alternative method for users to acquire VGX without direct purchase. The token's utility in the Voyager Loyalty Program further encourages participation and holding, creating a rewards-based economy around the token.

How to keep your VGX Token (VGX) safe?

Given that VGX is an ERC-20 token on the Ethereum network, standard security practices for Ethereum-based assets apply. Users should store their VGX tokens in a secure wallet that supports ERC-20 tokens, such as hardware wallets for long-term storage or reputable software wallets for everyday transactions. It is crucial to safeguard private keys and seed phrases, never sharing them with anyone. Enabling two-factor authentication on exchange accounts and using unique, strong passwords adds additional layers of protection. Users should be cautious of phishing attempts and fake websites, always verifying the official VGX Foundation website and contract address before interacting with any platform. Since the VGX ecosystem is now managed by the VGX Foundation, staying informed through official channels is recommended to avoid scams or misinformation. Regularly monitoring account activity and keeping wallet software updated further enhances security.

VGX, like other crypto assets, is subject to price volatility and can lose value rapidly. Regulatory treatment of tokens and exchanges varies by jurisdiction and may change, affecting access and liquidity. Smart contract and wallet risks also apply, including bugs, exploits, and user error. The points above describe the project's design and history and should not be read as an assessment of future performance.