Written in January 24, 2022
Voyager Tokenomics
Brief Overview
Voyager is an ecosystem that has a purpose of solving Centralized Exchange features in a decentralized manner. The platform has an exchange with a Dynamic Smart Order Router technology that provides liquidity by channeling order to other exchanges. Through the use of its token, Voyager operates in a commission-free trading service – enticing both small caps and institutions alike. The user interface for Voyager is designed to be as user-friendly as possible; the team has considerable experience in consumer-centric companies. Additionally, Voyager is a publicly traded company with the ticker symbol $TSX:VOYG, proving that the platform supports transparency. The data used in this article is taken from Voyager 2.0.
In-depth Tokenomics
In 2020, Voyager acquired a licensed European exchange and entity registered in France. Since then, the project shifts focus from being an only-exchange platform to an ecosystem with VGX 2.0 supporting it. The shift was realized with the merger with Ethos token; Voyager provides the exchange and wallet, while Ethos provides the token.
VGX 2.0 brings more benefits to the users and the network in general. It still maintains a presence in Ethereum by being an ERC-20 token. Most of the benefits are in the form of reward and incentive from the loyalty program. Furthermore, the token employs a burning mechanism through 25% VGX burnt withdrawal fees on the app.
Voyager Loyalty Program
Crypto and Stock Price Correlation
Based on the regression line (red line), Voyager’s prices have an upward slope. Meaning that, when the crypto price is rising, so does the stock price. This could be explained through tokenomics since Voyager is a public company, both the stock market and crypto market would heavily impact the value of Voyager itself: crypto through the token and stock through the public market. The following formula is the simplified version of the regression line.
y = 13.18853129865218 + 0.846β
Staking-wise, Voyager’s staking performance does not have that huge impact on the price. Reflecting towards staking’s true purpose, users crowding to stake does not imply the price is going up, but it could be inferred that the network is more fortified than before. However, there are some anomalies here in the data. During VGX price ups and downs, there could be seen more activity in staking, which could be both unstake or stake. Especially during the network phase changes from VGX 1.0 to 2.0 (marked in red circle).
Daily Staking Frequency compared to Daily Price