Open Source Blockchain for Decentralized Finance Explorer Veoscan Amoveo Tools

VEO Use Cases

The native cryptocurrency underlying the Amoveo blockchain network is VEO. VEO can be used to bet on political, economic and sports events, create stable coins, insurance contracts, as well as other derivatives. Below are some concrete examples of ways users can utilize VEO.

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Example 1

Predicting The Value of Assets
Let’s assume that one market participant believes that Bitcoin will trade over $8,000 by year-end and another participant is sure that it will trade under that value by year-end. Both participants can use VEO to place a bet within a pre-designed prediction market setting. The participant who is correct will receive the pot. Amoveo utilizes oracles in order to determine the correct price of Bitcoin during the end of the year as specified by the prediction market contract.

Example 2

Investing With CFDs
For some, investing can be difficult due to legal obstacles and high minimum deposit limits with brokers. An avenue to provide a solution to these issues is the contract for difference (CFD). Prices of CFD’s are equivalent to corresponding share prices.

CFD clients in many countries are very poorly protected by applicable law, and may suffer from fraud and scams. In some countries like the USA, CFDs are even prohibited. Financial regulators worldwide have not yet found a legislative solution that would fully protect the clients of CFD brokers.
Amoveo allows any network participant to create and trade CFDs. Using the immutability and transparency provided by blockchain and hard-coded smart contract execution. Amoveo has the capacity to create trustless CFD contracts that execute in the favor of users with no ulterior motive.

An example of CFD formation is as follows: one market participant (buyer) pays another (seller) the current price of Intel shares plus some commission. The seller assumes an obligation to repurchase the shares at any time on-demand at the prevailing market price. A smart contract reflecting the same transaction is a crypto CFD. When the buyer decides to close the contract, Amoveo’s oracles may obtain the market price of Intel shares and determine the settlement of the contract.

Example 3

Minting Stable Coins
Cryptocurrency markets are considered to be highly volatile and an investor may find it prudent to hold some of their assets in traditional fiat currency. Stable coins provide an enhanced alternative. The best known stablecoin asset is undeniably Tether (USDT), which is tied to USD. Although there still may be risks involved, Tether has been shrouded in controversy since its inception. Amoveo allows for the creation of stable coins with digital reserves in VEO that can be tethered to real world assets.