Interesting facts about VNST you might not know?

VNST

2024-01-29

Explore VNST - A decentralized stablecoin with transparent on-chain data, ensuring stability and safety. The following blog will reveal many interesting aspects about VNST that you may not be aware of.

When was VNST launched?

On September 2, 2023, VNST was officially launched (Coinciding with Vietnam's National Day). As a product designed for the Vietnamese, VNST aims to be familiar and easily memorable for the Vietnamese people.

What is the significance of its launch?

VNST was introduced with a crucial goal of addressing transparency challenges in asset reserve management in the stablecoin market, particularly focusing on the Vietnamese market.

VNST also provides a comprehensive solution to the issue of using foreign currencies in Vietnam. For instance, if users in Vietnam need to use USD, they face challenges related to international market conditions and policies, as well as difficulties in pricing goods and services.

VNST offers a new solution, allowing users to convert VNST at market rates, using a stable cryptocurrency like VNST to easily price and calculate in the Vietnamese economic environment. This reduces the impact of international market fluctuations on the value of VNST, creating a new and convenient experience for users in the Vietnamese market.

What does the name VNST signify?

VNST (short for "VN" in Vietnam and "ST" in Stable) is a unique and meaningful combination. When the idea of creating a Vietnamese Stablecoin product emerged, the development team considered various names such as VNSC, VNDS, VNS, etc. After careful consideration, the team chose VNST because it is a distinctive and easily relatable name.

VNST symbolizes the stability and uniqueness of cryptocurrency in the Vietnamese territory. This name not only reflects its origin but also promises transparency and reliability in the digital financial system.

The 3S slogan (Stability - Speed - Scalability)

Every coin comes with its own unique mission or characteristics compared to other coins. This product was created by the development team with three core factors: stability, speed, and scalability. This makes VNST a reliable stablecoin, easy to use, and efficient in meeting cryptocurrency transaction needs.

These are some interesting facts you may not know about VNST. Don't forget to follow our channels to stay updated on the latest information about VNST!

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