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What can you do with Velodrome Finance?
Store/Hold Velodrome Finance
Many users hold on to their Velodrome Finance with the expectation of it increasing in value. You can store your VELO safely on your Bitget account or on our crypto wallet app BG Wallet, the most user-friendly and secure mobile wallet.
Trade Velodrome Finance
You can trade Velodrome Finance for 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. Bitget offers many trading pairs for Velodrome Finance trading to meet your needs.
Send Velodrome Finance
Yes, Bitget allows you to easily transfer value around the world, fast. You can buy Velodrome Finance online and send to anyone and anywhere with their Velodrome Finance address.
Spend Velodrome Finance
You can also buy goods and services with your Velodrome Finance. More and more vendors and retailers accept Velodrome Finance every day.
Donate Velodrome Finance
Bitget Charity accepts Velodrome Finance donations for global projects that aim to improve the lives of people in the bottom billion. You can donate Velodrome Finance so no one misses out on the growth made possible by blockchain.
Learn More About Velodrome Finance
You can read more in-depth articles on Velodrome Finance from Bitget Research and study how cryptocurrencies like Velodrome Finance work on Bitget Academy
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What is Velodrome Finance (VELO)?
Velodrome Finance is a DeFi protocol that seeks to improve on Solidly's solution of aligning protocol emissions with fees generated. The protocol was launched on Optimism in 2022 by the team behind veDAO.
How Velodrome Finance (VELO) Works
Velodrome is an improvement on the Solidly codebase which addresses several issues and offers a superior alternative. The Solidly model aimed to compensate LPs for impermanent loss by aligning protocol emissions with fees generated, but its design had some key issues that prevented its success. Velodrome, on the other hand, has made several improvements to the Solidly codebase to ensure voters can fairly compensate LPs. The improvements include tying rewards with emissions, ensuring productive gauges, and prolonging emissions decay. With the new mechanisms in place, voters can only make one active voting decision every epoch and bribes from fees and external sources are treated differently. Additionally, an on-chain governor is added to whitelist pairs used in gauges, and an emergency "Commissaire" can kill any gauge deemed unproductive to the broader ecosystem. Finally, the emissions growth function is modified, negative voting is removed, and LP emissions "boost" is also removed, among other changes.
Velodrome Finance has created two tokens to handle its governance and utility, VELO and veVELO, respectively. The VELO token is used to reward liquidity providers through emissions, while veVELO is used for governance. The longer the vesting period for the tokens, the higher the rewards and voting power holders receive. Velodrome distributed VELO and veVELO tokens to users and protocols who were most likely to contribute to the ecosystem's success.
How Many Velodrome Finance (VELO) Tokens Are in Circulation?
VELO token has a total supply of 400,000,000, among which 141,000,000 tokens are in circulation.
How to Buy Velodrome Finance (VELO)
Consider investing in Velodrome Finance (VELO)? It only takes 2 minutes to create an account on Bitget and start trading VELO.
Check out the available VELO trading pairs on Bitget!
Spot market
Velodrome Finance (VELO) Resources
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