Velodrome AMM Launches Airdrop on Optimism

On June 1, Velodrome’s side of the project launched its $VELO airdrop.

The airdrop for investors takes place one day after Optimism ($OP) is launched.Velodrome is a Layer 2 scaling solution for Ethereum.

60% of the velo supply has been allocated to the community. Recipients of airdrop will include WEVE holders, Optimism users and users of other DeFi protocols.

Partner protocols building on Optimism will receive 24% of the Velo supply. These include Aave, AlchemixFi, Fei, Frax, Hop, inverse Finance, Lido, Lura, MakerDAO, Optimism, Perpetual Protocol, Redacted Cartel, Synthetic, and Thales Protocol.

Substantial improvement

Velodrome is a newly launched trading and liquidity marketplace designed to provide deep liquidity and low fees/slippage trades. Velodrome is supposed to be an improved version of Solidly Exchange, launched by Andre Cronje, the founder of Eire.

This AMM is optimized to facilitate stable and volatile asset swaps. Those who lock their admin tokens can vote to navigate emissions to their desired liquidity pool and receive a cut in protocol fee revenue.

Velodrome aims to improve on many of Solidly’s issues with regards to distribution, emissions and whitelisting token pairs. The Optimism team will receive 5% of the Velo supply in an attempt to align incentives and shore up support for Velodrome.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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