ParaSwap Rebrands to Velora with Delta v.2.5 Upgrade
Key Points:
- ParaSwap has rebranded to Velora and launched an upgrade called Delta v.2.5, focusing on a new, customizable intents-based trading system.
- The upgrade aims to improve the flexibility of trades, protect against MEV (maximum extractable value) issues, and expand cross-chain functionality.
- Velora has had 18,000 active users in the last month, and has performed 4.3 million smart contract interactions over the past year.
Introduction
ParaSwap, a decentralized exchange (DEX) aggregator, has undergone a significant transformation by rebranding itself as Velora. This change is not merely cosmetic but comes with a substantial technological update through the launch of the Delta v.2.5 upgrade. Velora’s new system introduces what is called “intents-based trading,” a method that allows people to customize how they trade digital assets on the platform. This kind of trading is designed to add flexibility, enabling users to modify their trade preferences more easily than before. By rebranding and upgrading, Velora aims to make its platform more appealing to both existing and potential users in the fast-paced world of cryptocurrency trading.
Addressing Key Challenges
With the introduction of the Delta v.2.5 upgrade, Velora addresses several key challenges facing decentralized exchanges. One major issue is the presence of MEV, or maximum extractable value, which refers to the profit that can be made through the manipulation of blockchain transactions. Velora’s upgrade promises to protect users from these MEV bots, which have been known to exploit trades for financial gain. Moreover, the upgrade enhances the platform’s cross-chain functionality, a sought-after feature that enables trading across different blockchain networks, providing users with more options and a smoother trading experience.
User Engagement
Velora has been fairly active, with data showing 18,000 monthly active users and a total of 4.3 million smart contract interactions over the past year. Originally introducing the intents-based trading concept in the summer of 2024, Velora aims to continue developing this feature to counteract the potential drawbacks of MEV. As a DEX aggregator, Velora combines offers from various DEXs to find users the best possible trade prices. The recent changes and upgrades are part of their ongoing effort to stand out in a crowded market by protecting users’ trades from manipulation and expanding functionality across different blockchains.
Hot Take
Velora’s makeover and technological upgrade demonstrate its commitment to enhancing user experience and security in the decentralized finance space. As crypto trading becomes increasingly popular, avoiding issues like MEV manipulation is crucial for user trust and platform integrity. If Velora’s new features deliver on their promises, they could set new standards for what traders expect in terms of security and flexibility. By enhancing cross-chain capabilities, Velora also positions itself as a forward-thinking platform in the ever-evolving crypto landscape. Remember, in this space, the ability to adapt and anticipate issues is almost as valuable as the technology itself.
