- Velora replaced the existing $ PSP token with $ VLR in a 1: 1 ratio, introducing improved rewards tied to the contribution of liquidity and deeper management of management.
- Velora deployed to the base supported by Coinbase for lower fees, faster implementation, and closer integration with the Optimism Superchain ecosystem.
- 10% of the total $ VLR supply is allocated for the transfer and growth of incentives, with a gasless, one-click transfer portal open for three months.
Velora, a decentralized trading protocol previously known as Paraswap, has now introduced a new management and token token, $ VLR. It also announced its expansion on the 2 blockchain layer of coinbase, base. The move is a sign of Velora’s next chapter as a crosschain, protocol driven by the intention of performing performance, centric users, and measured management.
The $ VLR token replaced the existing $ PSP in a 1: 1 ratio and designed to exceed traditional management. Holders will be able to assess their tokens and earn rewards based on the contribution of liquidity throughout the supported chain – prioritizing utility and active interacting with passive holding. In order to spur adoption, Velora has allocated 10% of the total $ VLR supply towards the incentives of moving and expanding the ecosystem.
So, Velora is launching a four-week trading and staking competition, motivating users with digital badges, leaderboard rewards, and additional $ VLR bonus. The competition will feature rotating bonus and chain tokens each week, its positioning as both community engagement initiatives and a life -consuming strategy approach.
The move has a user-friendly transfer interface that allows for a click swap from $ PSP to $ VLR, which is free of gas on the base network. This transfer window is open for three months, giving users a lot of time to participate.
Velora’s expansion to the base is a calculated step. Backed by Coinbase and integrated with greater superchain vision optimism, the base offers ultra-low gas fees, fast-paced ends, and a rapid growing developer and user ecosystem. Velora’s inclusion is in line with the growing narrative that Layer 2 networks are central to Ethereum’s long-term scalability and user adoption.
“Legacy aggregators are limited by strictly intelligent contracts and implementation of the same chain,” Says Velora founder Mounir got benchemled in a statement earlier this year. “The wishes offer more flexibility, giving users more control over how and when their trade is executed.”
Intention -based trading gains momentum in decentralized financial space, which is appreciated by protocols such as anoma and cowswap. Velora aims to do this one step more than extra hooks – customizable transaction conditions throughout the chain – and no gas swaps, which removes entry barriers for new users.
The platform management structure is also emerging. Recent proposals such as PIP-60 (Base Expanding) and PIP-56 (VLR Migration Roadmap) have been passed along with community support. Velora plans to increase the frequency and impact of protocol improvement measures, which sets the stage for a more community-led development process.
Velora’s transformation came up as Defi continued its recovery from a chaotic 2022–2023 cycle, with the investor’s updated interest in great, multichein solutions. Protocols capable of offering low-Friction trading, smart order routes, and strong management frameworks are especially seen as the next onchain finance wave.
Over $ 100 billion With the integrated amount of trade since it started as Paraswap in 2019, Velora is building a deep tested battle as it is moving to a next-generation intention of native trading protocol.
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Image credits: Velora, Canva