Vorliq Whitepaper
Version 1.0 of the community savings bank platform built on Vorliq's own blockchain.
Introduction
Vorliq is a community savings bank built on its own blockchain with the VLQ coin. People can coordinate savings-style activity, send VLQ, review lending-style proposals, post peer community requests, and take part in governance without depending on a third-party chain. It exists because everyday communities need tools they can understand, inspect, and operate together.
The VLQ Coin
VLQ is the native coin of the Vorliq network. The maximum supply is 21 million VLQ, mirroring a fixed-supply model that is easy to understand. The initial mining reward is 50 VLQ per block, and the scheduled reward halves every 210000 blocks. No VLQ can be created outside mining rewards and any explicit genesis allocation used by the application. VLQ has no guaranteed market value and should not be treated as an investment promise.
Vorliq Version 1.0 also introduces community governance, which means VLQ holders can propose and vote on supported network rule changes. The community can approve updates to parameters such as mining reward and difficulty through balance-weighted voting, and executed changes are recorded in a public rule-change history.
How the Blockchain Works
Vorliq runs its own proof of work blockchain with a default difficulty target of four leading zeros. Transactions are signed with SECP256K1 elliptic curve cryptography. Every block contains a list of signed transactions, records the difficulty used when it was mined, and links to the previous block by hash. Nodes validate block hashes, proof of work, previous hash links, transaction signatures, and spendable balances.
Community Lending
The lending system lets members request VLQ support and explain why they need it. Other members vote yes or no using their VLQ balance as voting weight. If enough weighted support is collected, the request moves from pending vote to approved pending issue, creates a traceable issuance transaction from the community lending pool, becomes active only after that transaction is mined, and later records repayment through a borrower-to-pool transaction. Vorliq records the community decision and repayment state transparently, without presenting itself as a licensed lending service or guaranteeing that any borrower will repay.
Community Requests
The VLQ community request flow lets members coordinate requesting VLQ or offering VLQ directly inside Vorliq. Terms are written in plain language because community coordination can involve money, goods, services, labor, or any value both sides agree on. The request lifecycle tracks open requests, accepted coordination, a recorded VLQ transaction, on-chain confirmation, both-party completion confirmation, and disputes. Vorliq can record the VLQ side of a request, but it cannot enforce off-chain payment, goods, services, delivery, or legal recovery. The request flow is a community coordination board, not a licensed exchange, broker, escrow provider, or guarantee that any request will be completed.
Community Governance
Vorliq is designed to explore community governance. In Version 1.0, VLQ holders can create proposals, vote with their VLQ balance as voting weight, and approve supported changes when quorum and approval thresholds are met. Passing a vote is tracked separately from execution, and successful supported setting changes create public rule-change records. General proposals are advisory and do not automatically execute software settings. The goal is to make the rules visible and community-directed, while being honest that governance does not guarantee economic outcomes.
Roadmap
Phase 1 complete. The core blockchain and application launch are complete with the Python blockchain, Node.js backend, React frontend, persistent storage, wallets, mining, and transactions.
Phase 2 complete. Peer to peer networking is complete with peer registration, discovery, transaction and block broadcast, chain synchronization, and network diagnostics.
Phase 3 complete. Community lending is complete with loan requests, VLQ-weighted voting, approval, rejection, repayment, and frontend access.
Phase 4 complete. Mobile application support is complete through the React Native Expo app for Android and iOS testing through Expo Go.
Phase 5 complete. The community request lifecycle is complete with requesting VLQ and offering VLQ flows, acceptance, completion, cancellation, and web and mobile interfaces.
Phase 6 complete. Community governance is complete with proposals, quorum, approval thresholds, weighted voting, execution safety, and public rule-change history for supported network settings.
Phase 7 complete. The mobile application includes wallet, sending, lending, exchange, governance, settings, and notifications.
Phase 8 upcoming. The next planned phase is preparing production mobile builds and publishing Vorliq through the App Store and Google Play after final account, signing, and store review requirements are complete.
Responsible Use
Vorliq is not a licensed bank, broker, exchange, lender, investment adviser, custodian, charity, DAO legal entity, or financial institution. Users are responsible for their own keys, actions, local laws, taxes, counterparties, and risk decisions. Mining rewards, treasury activity, tips, lending activity, peer community requests, and governance settings are software features that may change over time.