Velodrome Finance has some intriguing fun facts, such as its name Velodrome being derived from velodrome which is an oval-shaped bicycle racing arena, depicting Velodrome’s focus on building a liquid and seamless exchange ecosystem.
Velodrome is also the second largest protocol on the Optimism network based on total value locked (TVL), and has distributed over $80 million in total rewards to Optimism users and protocols.
Velodrome was also the first protocol to introduce the Relay feature which can automatically manage veNFTs, and its team consists of former employees from Amazon, Anthropic, and other prominent fintech companies.
Velodrome has also partnered with over 30 leading protocols within the Optimism ecosystem.
Velodrome Finance (VELODROME) crypto asset is now listed on INDODAX on the Optimism network.
Interested in Velodrome Finance (VELODROME) and how to buy it? Learn more before investing by reading below!
About Velodrome Finance (VELODROME)
Velodrome Finance is an automated market maker designed as the central trading and liquidity marketplace on the Optimism Network.
The protocol allows users to create, trade, and settle derivatives contracts in a transparent manner. Velodrome aims to attract liquidity by enabling token swaps and generating fees from traders.
The Velodrome protocol utilizes automated market making technology to facilitate the efficient and transparent exchange of digital assets.
Users can easily swap tokens without relying on human labor. The system is specially designed to create a liquid market for users.
For more information, visit the official website of Velodrome Finance (VELODROME) at https://velodrome.finance/
Challenges, Opportunities, and Utilities
One of the main issues faced by users of the Ethereum network is the relatively high transaction fees. Velodrome aims to address this by operating on the Optimism network, which offers lower transaction fees compared to the Ethereum mainnet.
In addition, high slippage is often encountered by traders when exchanging volatile crypto assets. Velodrome strives to reduce this by focusing on stablecoin and volatile asset pairs.
Velodrome also aims to continuously increase liquidity by providing incentives for NFT holders who lock up their liquidity.
The advantages of Velodrome include its unique combination of features from Curve, Convex, and Uniswap to create a more efficient transaction experience for users. Velodrome also offers an NFT-based governance model to better align user interests.
Velodrome Finance uses a token called $VELODROME as the protocol’s utility token. The $VELODROME token is utilized for several key utilities in Velodrome Finance, which include:
- Transaction fee payments: $VELODROME can be used by users to pay fees for any transactions conducted on Velodrome such as token swaps.
- Incentives for liquidity providers: Providers who supply liquidity in the form of token pairs on Velodrome will receive $VELODROME rewards periodically.
- Paying fees to developers/team: A small portion of transaction fees will be allocated in $VELODROME to fund further development of Velodrome Finance.
Founder of Velodrome Finance (VELODROME)
The founder of Velodrome Finance (VELODROME) is Alexander Cutler. Alex Cutler is a member of the Core Team at Velodrome Finance, the leading DEX on Optimism. Prior to getting involved in DeFi, Alex worked in politics, technology, and consulting.
Crypto Asset Ranking Information
As of 5 June 2024, the CoinMarketCap ranking of Velodrome Finance (VELODROME) is #491, with a market cap of USD 96,295,564. It has a circulating supply of 688,083,973 VELODROME and a maximum supply of 1,679,481,119 VELODROME
How to Buy Velodrome Finance (VELODROME) on INDODAX
Now that you’ve discovered more about Velodrome Finance (VELODROME), you can start investing in Velodrome Finance (VELODROME) easily and securely on INDODAX.
You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.
To buy Velodrome Finance (VELODROME) crypto asset on INDODAX, follow the steps below:
- Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
- Then, deposit by reading how to make a deposit below
- After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
- Search for VELODROME in the IDR market, and click to visit the crypto asset page
- On the crypto asset page, enter the balance and desired VELODROME purchase price, or buy instantly at the current price
- Next, you should wait for the price to increase for some time
- Once the price increases, your assets can be sold at a higher price with the Instant method
- If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number
INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.
Let’s invest in Velodrome Finance (VELODROME) on INDODAX now!
