INTRODUCING RACE CLUBS!

As part of Veloce’s continued expansion of VEXT, today we are announcing Race Clubs! As our token vaults, Race Clubs is your destination to start earning rewards and additional perks with VEXT.  

CHOOSE YOUR CLUB 

As part of the VEXTVERSE, we have created three Race Clubs: 

• Silver Race Club.
• Gold Race Club 
• Platinum Race Club 

The Race Clubs are tiered based on their entry-level, with those in higher tiers receiving the most valuable rewards. The individual Race Clubs are easily recognisable with each having its own unique icon.

CHOOSE YOUR RACE/STRATEGY

Within each Race Club, there are two separate reward pools, a 3-month Sprint Race and a 6-month GP. Depending on the Club, each reward pool has a minimum entry requirement, which is measured in VEXT.

• Silver Race Club - 200+ VEXT
• Gold Race Club - 1000+ VEXT
• Platinum Race Club - 5000+ VEXT

By entering a race, members will be eligible to receive a wide range of digital and physical rewards at individual milestones (aka. pitstops) throughout. All members that make it to the end of the race will be able to claim a percentage return on their VEXT.

• Silver Race Club - Up to 10% APY
• Gold Race Club - Up to 12.5% APY
• Platinum Race Club - Up to 18% APY

Each Race Club has a maximum capacity, therefore members should only enter a reward pool if they’re willing to commit to the entire 3-month/6-month period. 

• Silver Race Club - 2000 Seats (1000 Sprint, 1000 GP)
• Gold Race Club - 2000 Seats (1000 Sprint, 1000 GP)
• Platinum Race Club - 1000 Seats (500 Sprint, 500 GP)

IMPORTANT: Once a reward pool has started, members will be unable to leave until the race has finished, therefore you should only enter if you’re dedicated to completing the full duration.

ENTERING A RACE 

1. To enter a Race, go to a Race Club that is currently available and select the icon.

2. Scroll below the Race Club overview graphic and choose which reward pool you’d like to participate in and “Enter Race”.

‍

The process of entering a reward pool involves members locking up their VEXT tokens within the Club. At this stage, holders are required to enter the amount of VEXT they would like to store and are required to meet the minimum entry requirement of the relevant Race Club.

Once a member has entered the Club and the race has started, holders will not be able to trade or spend those tokens, however, will still be able to vote on proposals without any disturbance.

3. Your wallet address will already be pre-filled, so you just need to enter an amount of VEXT to be stored in the Race Club and then select “Store”.
   

4. Now proceed by clicking “Enter Race”.

Upon successful completion, you will be entered into the race and the countdown will be on as we eagerly await the start of the race!

‍

CLAIMING PRIZES 

Once you’ve reached a pit stop, you shall be eligible to receive your prize. For all physical rewards, you’ll be redirected to the checkout on our store. All prizes carry a claim period and have an expiration date. 

For most prizes the claim period will be three months, however, some prizes may incur shorter claim periods, once expired these prizes will no longer be available and therefore if you try to claim a reward after the expiry date you won’t receive your prize.

LEAVING A CLUB/RACE 

If, for any reason, members decide they want to leave the Club in order to have access to their VEXT, they shall only be able to do so if the race hasn’t started yet, at which point you will no longer be eligible to earn any of the additional benefits and rewards. 

Once the race has started, members will be unable to leave the race and therefore be unable to use their VEXT. Please ensure you are happy to commit to the entire duration before entering.  

FINISHING THE RACE

Once the race has ended you will be able to reclaim the VEXT that had been stored originally to enter the club. Please note that the additional return earned for finishing the race will be made available shortly after the race has finished. The date of which will be made clear from the main Race Clubs dashboard.

DISCORD & TELEGRAM

Each race has a fixed starting date, therefore keep an eye out on Discord, Telegram and our other Socials for these announcements.

We are always hanging out with other VEXT members in the Discord & Telegram, come join a like-minded community of gamers and motorsport enthusiasts!

FAQS

WHAT ARE RACE CLUBS?

Race Clubs are our token vaults within the VEXTVERSE, that allow members to earn additional rewards and perks within our ecosystem.

WHAT IS STORING?

Storing is the process of VEXT being locked up and held within the Race Club for the duration of the Race. Once the Race has finished your VEXT is returned back to your wallet.

HOW DO I STORE VEXT IN A CLUB?

To store VEXT in a Race Club, you must complete the necessary steps, as shown in the “ENTERING A RACE” section above.

IS THERE A LIMIT FOR HOW MUCH VEXT I CAN STORE IN A CLUB?

Yes, each Race Club has its own maximum limit, which is the following:

• Silver Race Club - 1000 VEXT
• Gold Race Club - 5000 VEXT
• Platinum Race Club - 15000 VEXT

CAN I LEAVE THE RACE, ONCE IT HAS STARTED?

Once the race has begun, you will be unable to leave, however, you do have the option to leave before the race begins. Please only enter a race if you are committed to completing the entire period. 

HOW DO I CLAIM MY PRIZE?‍

Once you’ve reached a pit stop you will be able to “Claim” your prize. This will allow you to complete the checkout details from the Shopify store. 

The window to claim your prize is 3 months from the date of a pit stop, some prizes may incur shorter time periods and after the claim window has closed, you will no longer be able to receive the prize.

DO I HAVE TO PAY ANY SHIPPING/IMPORT FEES TO RECEIVE MY PHYSICAL PRIZE?

Veloce will cover all the shipping costs associated with rewarding physical prizes. However, whatever you win may be subject to import charges depending on the value of the prize and geographical location, which the winner will be responsible for. 

At Veloce, we will do our best to minimise any impact of this where possible.

‍CAN I ADD OR REMOVE VEXT TO A RACE ONCE I’VE ENTERED? ‍

At this stage, you are unable to add or remove VEXT once you’ve entered a race.

‍