VeloxCoin (VLX)

1Summary

Apps for a lifetime. One coin for all of them.

VeloxCoin (VLX) is the utility token of the Velox ecosystem: the coin for paying in the Velox Group apps — VeloxWallet, VeloxApp (VeloxChat, VeloxWork, VeloxRide, and VeloxPay), Velox Child Control, VeloxMaps, VeloxShield, and Jarbas IA. Anyone who pays in VLX gets a 15% discount.

• Fixed supply. 1,000,000,000 VLX, created only once on the Polygon network. The contract has no function to create more.
• No owner. No one can pause or freeze VLX or change its rules, not even Velox Group. The code is permanent and verified on PolygonScan.
• Locks on the network. The VLX from the private round and those of the founder and team are locked in VeloxLock, a contract that no one can cancel.
• Distribution in plain sight. Each allocation of the supply has its own published address, and any movement is visible on the network.
• A wallet of its own. VeloxWallet is non-custodial: the 24 words stay only on each person's device.
• Four-phase roadmap: foundation (completed), VLX in everyday life, market and trust, and expansion.

VLX gives no stake in the company and no promise of return. Before buying, holding, or using VLX, read the risks (chapter 12).

2Vision

Apps for a lifetime. One coin for all of them.

The problem. Today, every app has its own way of paying. Paying inside an app almost always goes through cards, intermediaries, and fees that no one sees until the end. For people outside the banking system, or in another country, it is even harder. Cryptocurrencies promised to solve this, but they became complicated: keys, networks, fees that change. And many projects ask for trust without offering proof.

The Velox answer. Velox Group builds apps for everyday life and connects them all through a single coin, VeloxCoin (VLX). With it, people who use the Velox apps pay within the ecosystem without leaving the app, with benefits for those who pay in VLX.

Who it is for. For people and families all over the world, including those who have never used crypto. The complexity stays on our side: VeloxWallet keeps the keys on each person's device and shows everything in the currency they choose.

Why a coin of its own.

• A single balance for all the apps in the ecosystem.
• Payments in seconds, between people and businesses, in any country, with fees measured in cents on the Polygon network.
• A 15% discount for those who pay in VLX in the Velox apps.
• Rules no one can change: a fixed supply of 1,000,000,000 VLX, no future issuance, and a contract with no owner. Anyone can check this on the network, at any time.

Where we want to go. We want VLX to be recognized around the world as a trusted coin for payments. For its reputation, built on transparency. For rules that do not change. And for being useful every day, in the apps that millions of people use.

3The Velox ecosystem

4VLX technical specification

What the contract guarantees

• Fixed supply. VLX were created only once, when the contract was published, and there is no function to create more.
• No owner or administrator. No one can pause transfers, freeze wallets, confiscate balances, or change rules, not even Velox Group itself.
• Permanent code. The contract has no proxy, so it cannot be replaced or upgraded.
• Burn. Each wallet can burn its own VLX, and only its own. Burning reduces the supply, and nothing increases it.
• Approval by signature (EIP-2612). The use of VLX can be authorized with a signature, without the need for a separate transaction. This is the standard used by modern wallets and exchanges.

5Utility

VLX exists to be used. In the Velox apps, it is the in-house way to pay.

A 15% discount with VLX. Anyone who pays in VLX in the Velox apps pays 15% less than they would pay in Brazilian reais, in dollars, or by card.

Where to use it:

• VeloxPay: pay with a QR Code in stores and between people. Point, confirm, done.
• VeloxRide and VeloxWork: rides and services paid in VLX, right in the app.
• VeloxChat: sending VLX to a contact is as easy as sending a message.
• Velox Child Control, VeloxShield, and VeloxMaps: subscriptions and premium features paid in VLX.
• Jarbas IA: usage credits paid in VLX.
• VeloxWallet: hold, send, receive, and swap VLX, with the keys only on each person's device.

What VLX is worth when you pay. The price in VLX is calculated using the reference price published by Velox and, when there is a market, the market price.

How it reaches each app. Payments in VLX are added to each app as that app is launched. The up-to-date list is at veloxgroup.app/veloxcoin/en.

6Distribution

Total supply: 1,000,000,000 VLX. It is fixed: the VLX contract has no way to create more coins.

Check for yourself. Each allocation has its own wallet on Polygon, and anyone can check the balance of each one on PolygonScan.

The founder and team's 150 million are locked in VeloxLock (0x2852de51663444692f9fe896df8C6404e26ADB25) in the name of the wallet above, in 24 installments of 6.25 million: the first is released on November 4, 2027, and the last on October 4, 2029. In private round 1, what has already been delivered to investors is also locked in VeloxLock, in the name of each investor.

7The lock contract (VeloxLock)

VLX has no owner and cannot be paused: once it reaches a wallet, no one can freeze it. That is why, when VLX needs to stay locked for a period of time, this does not rest on a promise. It rests on a dedicated contract, VeloxLock.

How it locks. The party delivering the VLX deposits them into the contract in the name of the person who will receive them (the beneficiary), with a release date. From that moment on, the VLX are held in the contract, not in the wallet of the party that delivered them.

How it releases. Starting on the recorded date, and only from that date, the beneficiary can withdraw. The beneficiary can withdraw one installment at a time, or all installments already due at once. Only the beneficiary can withdraw, and the VLX can only go to the beneficiary's wallet.

In VeloxWallet, locked VLX appear in the balance with the date of each installment, and the "Withdraw" button ("Sacar" in the app) brings the installments already due into the wallet. Withdrawing is a transaction on Polygon, so the wallet needs POL to pay the network fee.

Release schedules. Each lock has a single date. A monthly schedule is built from several locks, one per date. This is how the private round locks and the founder and team lock, described in chapter 6, are set up.

Why no one can cancel it. The contract has no:

• owner, administrator, or privileged role of any kind;
• way to cancel a lock or to return the VLX to whoever deposited them;
• way to postpone, shorten, or change a date already recorded;
• way to withdraw to any address other than the beneficiary's.

Not even Velox Group, which created the contract, can interfere with a lock once it has been made.

Anyone can deposit VLX in the name of any beneficiary. The beneficiary never loses anything by this, and that is how the contract works without needing an administrator.

Check for yourself. On PolygonScan, anyone can look up, for any wallet:

• how many locks it has;
• the amount of each one, its date, and whether it has already been withdrawn;
• the total still locked;
• the total already due and not yet withdrawn.

8Fundraising and use of funds

Velox Group funds the ecosystem by selling VLX in private rounds, by invitation. This chapter shows how funds are raised and where the money goes.

How funds are raised. Only in private rounds, by invitation. The rules of each round (price, bonus, lock, payment method, and use of funds) are set out in the contract presented to those who are invited, before any payment. In private round 1, the VLX purchased stay locked in VeloxLock for 12 months, and the bonus is released monthly (chapter 6).

Where the money goes. To developing the apps and running the company, to the commissions of those who raise funds (under a contract and with an invoice), and to a cash reserve that will only be used to provide liquidity if VLX comes to be traded on a market. The exact split is set out in the contract of each round.

Transparency. Payments received in USDC are visible on the Polygon network, and the VLX delivered to each buyer are locked in VeloxLock, where anyone can check them.

9Governance

VLX has two layers: the network, where the rules are code and no one can change them; and the products, where decisions belong to Velox Group.

On the network, fixed rules. The VLX and VeloxLock contracts have no administrator, no voting, and no master key. No one's decision can change the supply, the transfers, or the locks already recorded. There is no governance on the network because there is nothing to govern.

In the products, Velox Group decides. Decisions about the apps, the discounts, the rounds, and the use of each allocation in the distribution (chapter 6) belong to Velox Group.

What VLX does not give. VLX is a utility token within the Velox ecosystem. It does not confer any equity interest, ownership quota, share, right to dividends, or voting right, nor any right to the assets or the financial results of Velox.

How Velox Group stays accountable.

• It publishes the address of each allocation in the distribution: any movement is visible on the network.
• It presents the rules of each round, in the contract, to those who are invited.
• It archives each version of this whitepaper, with its date and fingerprint (chapter 15).

Changes to this document. The whitepaper may be updated with new products and as the roadmap progresses. What is recorded on the network (the supply, the contracts, and the locks) does not change with any version.

10Security

VLX security rests on three pillars: contracts with no administrator key, code that anyone can check, and keys that stay only with whoever owns the coins.

The contracts

• No administrator key. VLX and VeloxLock have no owner, administrator, or proxy. There is no key that, if stolen, would allow anyone to create VLX, freeze wallets, or interfere with locks. Not even the wallet that published the contracts has that power.
• Verified code. The code of both contracts is published on PolygonScan and matches exactly what runs on the network.
• Recognized foundation. The contracts use the OpenZeppelin libraries, the most widely used on the market, and Solidity 0.8.24, which rejects any calculation that goes beyond its limits (overflow).
• Automated tests. 15 tests check the rules of both contracts: the exact supply, the absence of owner and issuance functions, that only the beneficiary can withdraw and only after the date, and that nothing can be withdrawn twice. Another 7 check the tool that delivers the private round VLX.
• External audit. The contracts have not yet undergone an external audit. It is on the roadmap (phase 3), and the report will be published once it exists.

Velox Group's funds

• The reserve is kept in cold storage: the reserve wallet's recovery words exist only on paper, never on a computer or phone.
• The address of each allocation in the distribution is public (chapter 6): any movement is visible on the network.

VeloxWallet

• Non-custodial. The 24 words are created on the device and stay only on it. Velox does not receive them, does not store them, and cannot recover them.
• Encrypted on the device. The words are encrypted (AES-GCM) with a key derived from the PIN using Argon2id and stored in the secure vault of the phone's own operating system.
• 6-digit PIN, which rejects easy sequences and repetitions.
• Limited attempts. After 5 wrong PINs, the wallet imposes a waiting period, from 1 minute up to 24 hours. On the 10th wrong PIN, the wallet is erased from the device and can only be restored with the 24 words.
• Automatic lock after a period of inactivity. Showing the 24 words requires the PIN and, if the person has turned it on, biometrics as well.
• Protected screens. On phones, the screens that show the words and the send screen do not allow screenshots. In a web browser this is not possible, and the wallet shows a warning.

Each person's part. Whoever has the 24 words has the wallet. Keeping them on paper, in a safe place, is what protects the VLX (chapter 12).

11Roadmap

Phase 1 — Foundation (completed)

• VeloxCoin created on Polygon, with a fixed supply of 1 billion.
• VeloxLock, the lock contract with no owner, published on the network.
• VeloxWallet: the in-house wallet, with multiple networks and built-in swaps.
• Private round 1.
• VeloxCoin website.

Phase 2 — VLX in everyday life

• A 15% discount for those who pay in VLX.
• Velox Child Control subscriptions paid in VLX.
• Cashback and rewards.

Phase 3 — Market and trust

• External audit of the contracts.
• Market liquidity for VLX.
• Future rounds.

Phase 4 — Expansion

• VeloxApp: VeloxChat, VeloxWork, VeloxRide, and VeloxPay with QR Code.
• VeloxMaps, VeloxShield, and Jarbas IA.
• Stores and partners receiving payments through VeloxPay.
• Entry into other countries.

12Risks

Before buying, holding, or using VLX, read this list. Nothing in this document is a projection, guarantee, or expectation of returns.

Project risks

• Early stage. Velox Group is at an early stage, and projects at this stage involve real risk. The apps on the roadmap may be delayed or change, and the utility of VLX depends on them.
• Business decisions. The discounts and the conditions for using VLX in the apps are decided by Velox Group (chapter 9) and may change.
• Concentration. Most of the supply is in Velox Group wallets, set aside for the allocations in chapter 6. The addresses are public, and any movement is visible on the network.

Market risks

• Locks. Locked VLX (from the private round, and those of the founder and team) cannot be transferred or sold until the release date.

Technology risks

• Permanent code. The contracts cannot be changed. This protects the rules, but it also means that a defect discovered in the future cannot be fixed in the same contract. The contracts have not yet undergone an external audit (chapter 10).
• Dependence on Polygon. VLX runs on the Polygon network. Failures, congestion, or changes in that network affect VLX, and each transaction pays a fee in POL.
• Irreversibility. Transfers on the network are final. VLX sent to the wrong address are lost, and no one can return them.

Risks for those who hold VLX

• The 24 words. Whoever loses their wallet's words loses their VLX, and no one can recover them, not even Velox Group. Whoever has another person's words has that person's VLX.
• Locks cannot be reversed. VLX locked in VeloxLock can only be withdrawn by the beneficiary wallet. If access to that wallet is lost, the locked VLX are lost with it.
• Scams. Velox never asks for the 24 words or the PIN, by any means. Anyone who asks is not Velox.

Legal and tax risks

• Changing rules. Laws on crypto-assets are changing around the world. New rules may limit the purchase, sale, or use of VLX in some countries (chapter 13).
• Taxes. Each person is responsible for reporting and paying the taxes on their VLX.

13Legal framework

This document is informational in nature. It is not a public offering of securities, an investment recommendation, or a promise of return.

The issuer. Velox Group.

The nature of VLX. Utility token: it gives access to products and services in the Velox apps and confers no rights over the company (chapter 9).

Brazil

• Crypto-assets. Law No. 14,478/2022 is the legal framework for crypto-assets, and the Central Bank of Brazil regulates virtual asset service providers (BCB Resolutions Nos. 519, 520, and 521, in force since February 2, 2026). VeloxWallet is non-custodial: Velox does not hold customers' coins. How these rules apply to Velox is being assessed with legal counsel.
• Payments from abroad. Under BCB Resolution No. 521, international payments with crypto-assets follow foreign exchange rules.
• Securities. VLX was designed as a utility token, with no promise of return and no rights over the company, in light of Parecer de Orientação CVM nº 40/2022 (CVM Guidance Opinion No. 40/2022), which distinguishes utility tokens from securities.
• Taxes. Each holder reports and pays the taxes on their VLX, in accordance with the rules of Brazil's Federal Revenue Service (Receita Federal).
• Personal data. The data of those who buy in the rounds is processed in accordance with Brazil's General Data Protection Law (LGPD).

European Union

• MiCA. Under Regulation (EU) 2023/1114, offers made to fewer than 150 people per country, or totaling less than 1 million euros over 12 months, are exempt from the requirement to publish a whitepaper in the official format. If VLX is ever offered to the public in the European Union above these limits, this whitepaper will be adapted to the MiCA format and notified to the competent authority.
• Personal data. Residents of the European Union have the rights provided by the GDPR.

Other countries. Anyone who buys, holds, or uses VLX is responsible for complying with the laws of their own country.

14Glossary

• Address: the public identifier of a wallet on the network, to which coins are sent.
• Beneficiary: the wallet that receives the VLX from a lock.
• Blockchain: a public, permanent record of transactions, maintained by many computers at the same time. No one can delete or alter what has already been recorded.
• Burn: the permanent destruction of coins, which reduces the supply. Each wallet can only burn its own.
• Cashback: part of the amount paid that goes back to the person who paid.
• Cold storage: keeping keys off any device connected to the internet.
• EIP-2612: a standard that allows the use of tokens to be authorized with a signature, without the need for a separate transaction.
• ERC-20: the most widely used standard for tokens. It is what makes VLX work in compatible wallets and exchanges.
• External audit: a review of the contracts' code carried out by an independent company.
• Irreversible transaction: once confirmed on the network, a transaction cannot be undone.
• Issuance: the creation of new coins. The VLX contract does not have this function.
• Liquidity: how easily an asset can be bought or sold without moving its price much.
• Lock: VLX held in VeloxLock until a set date. Only the beneficiary can withdraw them, and only after that date.
• Network fee: the amount paid to the network for each transaction. It does not go to Velox.
• Non-custodial wallet: a wallet in which only the person holds the keys. No one else can move the coins, not even the company that made the wallet.
• POL: the coin of the Polygon network, used to pay the fee for each transaction.
• Polygon: the blockchain network on which VLX runs, compatible with Ethereum and with fees measured in cents.
• PolygonScan: a public website where anyone can look up transactions, balances, and contracts on the Polygon network.
• Proxy: a mechanism that allows a contract's code to be replaced after it has been published. VLX does not use a proxy.
• QR Code: a code read by a phone's camera to pay or to receive payments.
• Recovery phrase (24 words): the master key to the wallet. Whoever has the words controls the coins; whoever loses them loses access to the coins.
• Smart contract: a program published on the network that carries out, on its own, the rules written in its code. VLX and VeloxLock are smart contracts.
• Token: a coin created by a contract within a network. VLX is a token on the Polygon network.
• Total supply: the number of VLX in existence: 1,000,000,000, fixed.
• Utility token: a token made to be used in products and services, and not a stake in the company.
• Verified code: code published on PolygonScan that matches exactly the contract running on the network.
• Wallet: the app and the address that hold a person's coins.
• Withdraw: to move the VLX out of a lock that has already come due and into the wallet.

15Versions and fingerprint

Each version of this whitepaper is archived, with its date and fingerprint. The SHA-256 fingerprint is a code calculated from the PDF file: if a single letter changes, the code changes. This way, anyone can check that the document they have in hand is the one Velox Group published.

A document cannot contain its own fingerprint. That is why the fingerprint of each version is published on the website, next to the PDF, and each new version lists in this table the fingerprints of the previous ones.

Translation. This is a translation of the original Portuguese version. In case of any discrepancy, the Portuguese version prevails.

How to check. Download the PDF from veloxgroup.app/veloxcoin/en and calculate the file's SHA-256. On Windows: certutil -hashfile whitepaper.pdf SHA256. On Mac or Linux: shasum -a 256 whitepaper.pdf. The result must be identical to the one published on the website.

Contact: veloxcoin@veloxgroup.app