Circuits of Value (COVAL) is the most interesting cryptocurrency I have seen in a while. To explain, they call Circuits of Value a token with an entire vault built into it.
They also call COVAL blockchain’s first composite token. To explain, each COVAL token contains an Emblem Vault. The Emblem Vault is a dAPP you can use to store digital constructs on the blockchain. For example, they claim you can store digital art, tradable portfolios, funds, and even Liquidity Pools in a COVAL.
Users can purchase vaults with multiple tokens, including Etherparty (FUEL), Ethereum (ETH), and COVAL. They make vault purchases through Uniswap. Users will receive a discount for making purchases with COVAL and FUEL.
Circuits of Value (COVAL)
They claim users can users can store trade tokens from any Ethereum Virtual Machine (EVM) based blockchain in COVAL. EVM blockchains include Ethereum, Fantom, and Binance Smart Chain (BSC).
Moreover, they claim COVAL users can trade multiple tokens at the same time and transact digital files like tokens. In addition, users can build hedged tokens by creating vaults that contain multiple tokens.
They claim you can buy COVAL at a discount using FUEL. COVAL gives users with a portion of the token’s liquidity as a reward. Users can purchase FUEL through COVAL using Uniswap.
There was a Total Supply of two billion COVAL and a Circulating Supply of 1.2 billion COVAL on 18 January 2022. They estimate around 60% of the COVAL Tokens are now in circulation. They dedicate 20% of COVAL to Liquidity and Development, gave 10% to Reserve & Team, 5% of COVAL to Audits, Marketing and Partnerships, and use 5% for staking awards.
What Value does Circuits of Value (COVAL) Have?
Mr. Market gave Circuits of Value (COVAL) some value. For example, it was the 321st largest cryptocurrency on 20 January 2022.
In detail, CoinMarketCap gave COVAL a 9.219₵ Coin Price, a $164.719 million Market Cap, a $164.861 million Diluted Market Cap, and a 24-Hour Market Volume of $582,182 on 20 January 2022. They base those numbers on a Circulating Supply of 1.79 billion COVAL and a Total Supply of 1.787 billion COVAL.
In contrast, Coinbase gave Circuits of Value (COVAL) a Coin Price of 7.21₵, a $130.3 million Market Capitalization, and a $5.6 million 24-Hour Trading Volume on 21 January 2022. They base those numbers on a Circulating Supply of 1.787 billion COVAL.
I consider COVAL an interesting cryptocurrency. However, there is no evidence that any of its technology works. Notably, they have not released a COVAL roadmap for 2022 yet. I think that shows COVAL’s vault is not working yet.
Still, I think COVAL could make enormous amounts of money if the Emblem Vaults work. The Emblem Vault makes COVAL a cryptocurrency to watch.