What is VALOR?
The VALOR Token is a utility token issued by SMART VALOR AG and is used within the SMART VALOR platform ecosystem.
The VALOR Token enables users to pay trading fees at preferential rates.
The VALOR Token is designed for use within the VALOR platform ecosystem.
It does not grant holders any rights to profits, dividends, interest, repayment, or ownership interests in the issuer.
How people use VALOR today?
Payment of trading fees using VALOR
Users can pay their trading fees on the Smart Valor platform using VALOR tokens. When paying fees in VALOR, the full amount of the applicable fee can be covered. Additionally, a 30% discount is applied to the fee when VALOR is selected as the payment method.
Example: A fee of CHF 1.00 would be reduced to CHF 0.70 when paid in VALOR (subject to conditions).
VALOR amount calculation:
To determine how many VALOR tokens are needed to settle the discounted fee, Smart Valor applies a reference acceptance rate of CHF 0.60 per 1 VALOR.
Important notes:
This reference rate is not the market price of VALOR and may differ from trading prices.
It does not create any right of redemption, repayment, repurchase, or value guarantee.
The discount rate, reference rate, and ability to pay fees with VALOR can change, be suspended, or discontinued at any time for legal, regulatory, security, or risk-management reasons.
Trading VALOR on the platform
Users can buy and sell VALOR against USDC via the Smart Valor trading platform. Orders are executed through the platform’s order book and matching engine, according to the Smart Valor Exchange Rule Book.
Important notes:
Smart Valor does not guarantee that you will be able to buy or sell VALOR at a specific time, price, or volume. Markets may be illiquid, and digital assets may be suspended or delisted.
Trades may be matched with other clients, liquidity sources, or, where disclosed, with Smart Valor’s own account when acting as a market maker.
How was VALOR designed from a technical perspective?
The VALOR Token is implemented as an ERC-20 token on the Ethereum blockchain.
Its technical features include:
standard ERC-20 functionality,
burnability for supply management purposes,
transparent allocation mechanisms at token generation.
The initial total supply of VALOR Tokens was 100,000,000 tokens.
In December 2019, SMART VALOR executed a one-time token burn resulting in the permanent destruction of 25,000,000 VALOR Tokens.
This burn was carried out as part of a historical supply management measure and does not represent an ongoing value enhancement or investment mechanism.
SMART VALOR does not operate any price-support, buy-back, or liquidity guarantee mechanisms for the VALOR Token.
Historical Background (Pre-MiCA)
Prior to the entry into force of Regulation (EU) 2023/1114 (MiCA), VALOR Tokens were distributed through several historical sale rounds between 2017 and 2019.
This information is provided solely for transparency and historical context.
It does not reflect the current functional, legal, or regulatory positioning of the VALOR Token under MiCA.
VALOR today
The current use of the VALOR Token is strictly limited to its utility function within the SMART VALOR platform.
Under Regulation (EU) 2023/1114 (MiCA), the VALOR Token qualifies as a utility token.
Accordingly, the VALOR Token is:
not an e-money token,
not an asset-referenced token,
not a financial instrument.
Has the VALOR token been audited?
Yes, ChainSecurity has completed a security audit of the VALOR smart contract in 2018. The full report, including the scope of the audit and considered properties, is available on Github.
Overall, ChainSecurity’s auditors found that SMART VALOR employs good coding practices and has a clean, well-maintained code. No critical security vulnerabilities were found during the audit.