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Clever DeFi Founder Bryan Legend Explains Insider Details About CLVA Token

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Thu, 02/11/2021 - 14:30
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Vladislav Sopov
Decentralized financial protocol Clever (CLVA) shares the details of its token minting program
Clever DeFi Founder Bryan Legend Explains Insider Details About CLVA Token
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Clever DeFi (CLVA), a recently launched token minting ecosystem, is designed to earn predetermined interest from CLVA token minting. Its initial activity phase commenced one week ago. Now its team is ready to share its first results.

Token minting for automated interest earning: CLVA concept

Decentralized financial protocol Clever (CLVA) is powered by a primitive of cyclic automated token minting. Its entire lifespan includes 888 cycles of fourteen days, i.e., more than 34 years. This time framework is hard-coded into the protocol codebase and is not subject to change.

Once the cycle closes, all of its participants receive automated rewards. CLVA team ensures that double-digit reward rates are available for CLVA holders.

Meanwhile, participation in the protocol does not imply signing a terms agreement, mandatory CLVA staking or any other sort of restrictions. Clever DeFi clients are able to move their tokens anywhere within a cycle: the project has no custody over users' funds.  Also, the buying/selling of CLVA tokens is allowed at every moment of Clever DeFi's lifespan with no regard to the cycles' phase.

The CLVA supply has no premine: token minting started on day one of the protocol itself. It almost eliminates the possibility for CLVA whales or the Clever product team to "dump" a significant part of its supply on retail token holders.

In December 2020, seasoned cybersecurity vendors BlockHunters performed a security audit of the Clever DeFi (CLVA) protocol. All vulnerabilities disclosed by a team of white-hat hackers have already been polished. As a result, the protocol logic seems generally secure in terms of attack resistance.

All information about protocol functions, payouts, compound interest and basic rules of participation is published on Clever DeFi's main website. To provide context for newbies, the project team attached the scheduled compound interest charts for every year of its lifespan and comprehensive analysis of the most popular ways of investing.

$570,000 at stake: Clever (CLVA) CEO Bryan Legend shares statistics

As the protocol's mainnet is up and running since Feb. 1, 2021, it is in the first cycle now. Australian crypto entrepreneur Bryan Legend, CEO and inventor of Clever (CLVA), decided to share the first available statistical points:

More than 416 Ether has been used thus far to mint CLVA Tokens which marks a giant leap into the right direction by confirming there is a lot of trust within the community.

That said, early CLVA participants have put more than half a million dollars into the protocol liquidity mechanisms during the first day of its inaugural lifespan.

It is worth noticing that the entire project concept is inspired by Mr. Legend's previous career track. Despite being mostly known as a cryptocurrency entrepreneur, prior to entering the digital assets sphere, he worked in telecommunications, transport, security, digital marketing and so on. His net worth is estimated by reviewers at $2.6 million.

According to his first market update letter, in February 2021, his team will be laser-focused on Clever DeFi promotion over the globe through banner advertising and YouTube influencers.

Then, the listing of the CLVA ERC-20 token on Uniswap, a flagship Ethereum-based DEX, is set to occur on March 17, 2021. After the first influx of liquidity, the token will be immediately listed by a number of Tier 2 exchanges including P2PB2B, CoinsBit, HotBit and HitBtc.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)