News

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

CoinCu News

KAI

Victor

Recent Posts

BlockDAG’s $30 by 2030 Price Predictions Are Sparking Excitement Among the Community—Will Toncoin & SUI Keep Up?

Discover how Toncoin's valuation, SUI's latest Google Cloud partnership, and BlockDAG's soaring presale frame the…

26 minutes ago

Top 6 High-Quality Free Crypto Airdrops You Shouldn’t Miss

Free crypto airdrops are one of the ways to help users participate in the project…

29 minutes ago

PancakeSwap Swap Bot Is Launched On Telegram To Convenient Trading

The PancakeSwap Swap Bot supports trading on PancakeSwap’s v2, v3, and stableswap protocols on the…

49 minutes ago

Is November 2024 the Right Time to Invest in Qubetics, Cardano, or Solana? Let’s Find Out!

From industry giants like Cardano and Solana to emerging players like Qubetics, it’s no wonder…

1 hour ago

US Jobless Claims Drop to 217,000, Lowest Since May

US jobless claims fell to 217,000 for the week ending November 9, the lowest since…

2 hours ago

World Liberty Financial Integrates Chainlink To Secure On-chain Data

World Liberty Financial integrated Chainlink for secure, reliable on-chain data and cross-chain interoperability as it…

2 hours ago

This website uses cookies.