VLX is the native token of the Velas blockchain, a project developed by Velas AG, based in Switzerland. This innovative platform operates on a delegated proof of stake (dPoS) consensus model, integrating artificial intelligence to enhance its functionality. Velas aims to provide a robust ecosystem for building AI projects, decentralized applications (dApps), and smart contracts. The project's foundation stems from the insights gained by its founder, Alex Alexandrov, who is also the CEO of Coinpayments.net, a leading altcoin payment processor since 2013. The Velas blockchain was conceived to offer a proprietary solution that addresses the inherent challenges present in existing blockchain technologies, such as centralization, security vulnerabilities, and scalability issues. Development of Velas began two years ago, culminating in the transition from Coinpayments Coin to VLX on July 4, 2019. This date signifies the launch of Velas as a standalone project and the beginning of its journey to solve critical blockchain challenges using advanced neural networks and artificial intuition. The Velas ecosystem is designed to provide users and developers with the tools necessary to create efficient and effective blockchain applications. By leveraging its AI-enhanced consensus mechanism, Velas aims to offer improved security and reduced costs, making it an attractive option for a wide range of blockchain initiatives. Overall, VLX serves as a vital component of the Velas blockchain, facilitating transactions and enabling users to engage with its growing ecosystem while pushing the boundaries of what blockchain technology can achieve.