Velodrome Finance is a DeFi platform built on the popular blockchain network Optimism. Providing solutions for users to manage and grow their digital assets, the platform aims to provide various financial services.
What is Velodrome Finance?
Velodrome Finance is a decentralized finance (DeFi) platform built on the blockchain network Optimism. It aims to provide users with a wide range of financial services including lending, borrowing, staking and more. In a rapidly growing DeFi market, Velodrome Finance provides a unique and innovative solution for users to manage and grow their digital assets.
The main product of the platform is a decentralized exchange AMM model and liquidity market on Optimism, a Layer 2 network located on the Ethereum blockchain. We can compare it to Ethereum’s Uniswap or the BNB network’s PancakeSwap. It is a highly anticipated development in the blockchain world and Optimism aims to be a key player in this movement. However, there must be sufficient liquidity in the market for the benefits of Tier 2 to be fully realized.
What is VELO Coin?
VELO coin is the native cryptocurrency of the Velodrome Finance platform. Acting as the service token of the protocol, VELO reflects a combination of 2 famous concepts: ve-token, 3.3 game theory.
VELO holders can vote, escrow or stake these tokens to receive veVELO. VELO coins are distributed among pools based on votes from veVELO holders.
The Velodrome platform operates in a way that maximizes profits by incentivizing VELO holders to stake, vote and direct emission, rather than incentivizing liquidity through emissions. As a result, the pools that are most used in terms of both trade and fees receive the largest emissions allocations and attract the most liquidity.
Velodrome is an AMM designed as the central trading and liquidity marketplace on @optimismPBC.
It is the next evolution of the @solidlyexchange model introduced by Andew Cronje.
Launching on May 31st with 10+ partners, it will kick start #OPSummer.
Need a 101?👇🧵 pic.twitter.com/0xgZUedNMN
— Velodrome (@VelodromeFi) May 29, 2022
How Much is VELO Supply?
The Velodrome Finance supply is 210 million units, with a market cap of $28 million. VELO highest ATH price was recorded as 0.25 USD on February 24, 2023. The lowest ATL price of VELO coin is 0.005 USD on July 5, 2022.
VELO with its own blockchain network outside of Uniswap (V3) (Optimism) OKX, CoinEx, MEXC, BitMartAnd BKEXIt can be purchased on crypto exchanges.
