OpenXSwap is a decentralized marketplace where users can buy and sell veNFT positions, often at a discount. It provides an alternative to acquire Velodrome or Aerodrome locks.
In this guide, we will walk through how to purchase a Velodrome veNFT on OpenXSwap. While this article focuses on Velodrome (Optimism), the process is the same for Aerodrome (Base) locks.
📌 What you will find in this article:
What OpenXSwap is and how it works.
Step-by-step guide to buying a veNFT.
Key details to considet before purchasing.
✅ What you need:
A connected wallet to the correct network.
Enough balance to purchase the veNFT.
How to buy a Velodrome veNFT on OpenXSwap:
1️⃣ Access OpenXSwap
Visit app.openxswap.exchange .
Click on “📷 NFT Market” in the top menu.
Ensure you are connected to the correct network.
2️⃣ Select the Velodrome V2 Marketplace
In the marketplace list, choose “Velodrome V2” to view all available VELO locks for sale.
You can also go directly to the marketplace via this link.
3️⃣ Review available veNFTs
Each listing provides key details:
Locked value: the current value of the locked VELO, adjusted for the remaining lock duration.
Sale value: the price the seller is asking for the lock.
Locked amount: the total VELO tokens making up the lock.
Discount: the percentage reduction from the lock’s actual market value.
Discount price: the cost per dollar of locked value after applying the discount.
* 💡 Example: if a lock has a 10% discount, you are paying $0.90 for every $1 locked value.*
Unlocks in: the remaining time before the lock fully unlocks.
Buy price: the final purchase price displayed in the relevant payment token (VELO, ETH, USDC, or any token set by the seller).
4️⃣ Choose and purchase your lock
Analyze the available options and select a lock based on your strategy (discount, duration, price).
Click “Buy” to proceed.
A confirmation pop-up will appear - approve the transaction in your wallet.
Once successful, the lock will appear as “Sold” in OpenXSwap.
5️⃣ Verify your Lock on Velodrome
You new lock will now be visible and available in the Velodrome page, in the Dashboard and Lock sections.
You are now part of the Velodrome ecosystem and can engage in the flywheel!
Conclusion:
Using OpenXSwap to purchase a Velodrome veNFT allows you to find existing locks at a discount or with a shorter unlocking period. It’s a great way to access the protocol more efficiently while taking advantage of marketplace opportunities.
Lynn Brooke
This article serves educational purposes and is not financial advice. We encourage you to do your own research and be responsible for your actions in the financial space.