VELODROME
VELODROME

Velodrome Finance price

$0.096250
-$0.00727
(-7.02%)
Price change from 00:00 UTC until now
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Velodrome Finance market info

Market cap
Market cap is calculated by multiplying the circulating supply with its latest price. Market cap = Circulating supply × Last price
Circulating supply
The amount of this crypto that is publicly available in the market
Market cap ranking
The asset’s ranking in terms of market cap value
All-time high
The historically highest price an asset has reached during its trading history
Market cap
$83.58M
Circulating supply
867,805,904 VELODROME
Market cap ranking
--
24h high
$0.10438
24h low
$0.095067
All-time high
$0.38335

VELODROME calculator

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Velodrome Finance price performance in USD

The current price of Velodrome Finance is $0.096317. Since 00:00 UTC, Velodrome Finance has decreased by -7.01%. It currently has a circulating supply of 867,805,904 VELODROME and a maximum supply of 1,892,012,981 VELODROME, giving it a fully diluted market cap of $83.58M. At present, Velodrome Finance holds the 0 position in market cap rankings. The Velodrome Finance/USD price is updated in real-time.
Today
-$0.00727
-7.02%
7 days
$0.023997
+33.18%
30 days
$0.0015074
+1.58%
3 months
$0.028817
+42.69%

About Velodrome Finance (VELODROME)

Velodrome is an automated market maker (AMM) built atop the Optimism ecosystem. It is recognized for its presence in decentralized finance (DeFi) and is actively traded on both centralized exchanges (CEXs) and decentralized exchanges (DEXs). Velodrome aims to address liquidity concerns in the DeFi space and distinguishes itself with a transparent approach and user-friendly interface.

What is Velodrome

Velodrome, also known as Velodrome Finance, is a liquidity incentivization project designed specifically for protocols operating on the Optimism Layer 2 chain. Its primary objective is to provide users with benefits such as low slippage, reduced swapping fees, and deep liquidity across projects. In essence, Velodrome functions as a DEX within the Optimism ecosystem, offering users a seamless trading experience.

The Velodrome team

The team that created Velodrome Finance is the same one behind veDAO, an initiative centered around Information Tokens and designed to interact with Andre Cronje's Fantom-based Solidly ecosystem. The purpose of veDAO was to extend the reach of Solidly's features to individuals who did not have access to DeFi resources. veDAO then introduced Velodrome, modeling Solidly on Optimism.

How does Velodrome work

Velodrome’s working model involves rewarding governance participants and liquidity providers (LPs) with VELO, the native utility token. Liquidity providers are eligible to receive VELO emissions, similar to vesting incentives, which can be held and converted to veVELO, the governance tokens of Velodrome. This process forms a loop where VELO tokens are used to acquire veVELO tokens, granting voting rights and eventually leading to the collection of “bribes” and trading fees. The inflow of VELO and veVELO tokens ensures a sustained flow of incentives within the ecosystem.

Velodrome expands on Solidly's codebase by tying rewards with thoughtful emissions. This approach promotes openness and transparency within the ecosystem, providing participants with a better understanding of how rewards are allocated and encouraging active engagement in the platform.

Velodrome’s native token: VELO

Velodrome operates with two tokens: the ERC-20 VELO and the ERC-721 token known as veVELO, which functions similarly to non-fungible tokens (NFTs). VELO is specifically designed to reward liquidity providers (LPs), while veVELO serves as the governance token within the ecosystem.

To acquire veVELO and gain voting rights, users can vest their VELO tokens. The longer the locking period for vesting, the greater the corresponding voting power granted to the holder.

VELO tokenomics

VELO, the native token of Velodrome, has an initial supply of 400 million tokens. There is a weekly emission rate of 3.75 percent, equivalent to 15 million tokens per epoch. This is balanced with a 1 percent decline in tokens, much like a token burning mechanism. This built-in burn mechanism helps to mitigate inflation and maintain a controlled token supply, allowing for sustainable growth. Additionally, VeVELO holders receive a rebase value of tokens proportional to the LP emissions.

Velodrome's operational model combines elements from three token economics models, known as Ve(3,3). It incorporates features inspired by Curve, such as low fees, Solidly with its voting-to-trading relationship, and Votium, which includes an in-built "bribe" design. By incorporating these traits, Velodrome creates a unique ecosystem that combines the strengths of different token economic models.

How to stake VELO

To participate in the staking process, users need to have ETH locked on Optimism or in their connected wallet. By bridging ETH to Uniswap V3, users can join specific pools such as VELO-USDC, VELO-OP, and others to provide liquidity and earn passive income.

VELO use cases

Here are some standard use cases of VELO, the native token of Velodrome:

  • Rewarding LPs
  • A means to vest or vote-escrow and earn governance-focused veVELO tokens

VELO distribution

The VELO distribution model is structured as follows:

  • 60 percent of the tokens are allocated to the community.
  • 24 percent of the tokens are distributed to DAOs and associated protocols in the form of veNFTs.
  • 10 percent of the tokens are allocated to the team as VELO.
  • 5 percent of the tokens are designated for the Optimism team in the form of veNFTs.
  • 1 percent of the tokens are allocated to the Genesis pool as VELO.

Reasons to watch Velodrome

Velodrome (VELO) is an emerging player in the DeFi space, with a focus on improving upon the Cronje-backed Solidly project. With a total value locked (TVL) of nearly $230 million, Velodrome demonstrates promising potential for growth.

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VELODROME FAQ

What is Velodrome?

Velodrome is an AMM and a liquidity protocol native to the Optimism network. Despite being a new protocol, Velodrome is already competing with established platforms like Uniswap in terms of network volume. 

What are the benefits of Velodrome?

While Velodrome is a liquidity provider per se, it comes with a wide range of benefits, including offering low slippage on trading, low crypto swapping fees, and deep liquidity for numerous crypto pairs. 

What is the VELODROME price prediction?
While it’s challenging to predict the exact future price of VELODROME, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is Velodrome Finance worth today?
Currently, one Velodrome Finance is worth $0.096317. For answers and insight into Velodrome Finance's price action, you're in the right place. Explore the latest Velodrome Finance charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Velodrome Finance, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Velodrome Finance have been created as well.

VELODROME calculator

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