Ethereum has seen scaling issues for a long time. The high gas fees due to network congestion remained a pain point. To address this issue, many scaling solutions have emerged. zkSync Era is an Ethereum Layer 2 scaling solution from Matter Labs that provides cheaper and quicker transactions than the mainnet. The biggest difference between Arbitrum and Optimism, the largest Layer 2 ecosystems and zkSync is the RollUp technology. While the previous two are based on Optimistic Rollup, zkSync is based on zk Rollup. The protocol raised almost $458 million in funding which is almost four times more than what Arbitrum raised. The beta version of the zkSync Era Mainnet Alpha became available on 24th March 2023. The DeFi TVL on zkSync Era has already crossed $120 million and some protocols have attracted great investor attention. Velocore** is one such project on zkSync Era that has the second-highest TVL of $25 million.**

Velocore is a low-slippage DEX on zkSync Era. It is built on the foundation established by Velodrome Finance, a fork of Solidly, on the zkSync era chain. Velocore is dedicated to providing an attractive and sustainable solution for liquidity needs as the team recognizes liquidity as one of the most critical components of DeFi projects. The project has made a lot of changes to the Solidly codebase to make it better and enable fair compensation for liquidity providers, considering impermanent loss. The UI is simple and minimalistic. The swap feature allows you to swap between Velocore-supported stable and volatile assets. You can also provide liquidity to the protocol to earn lucrative rewards. The USDC-WETH pool which is quite safe has 28.98% APR now. A bit riskier WETH-VC pool has an APR of 241.36%.

$VC is the utility token of Velocore. The protocol liquidity providers get rewarded $VC through emissions. The initial supply of $VC is 60 million. Weekly emissions start at 1.4M $VC (2.33% of the initial supply) and decay at 1% per epoch. Velocore has another token in the ecosystem. $veVC is used for governance. Any $VC holder can vote-escrow their tokens and receive $veVC which is also known as veNFT in exchange. Additional tokens can be added to the $veVC NFT at any time. The lock period of $veVC can be up to 4 years. There is a linear relation between $VC and $veVC. For example - 100 $VC locked for 4 years will become 100 $veVC; 100 $VC locked for 1 year will become 25 $veVC. These veNFTs and tokens allocated to partner projects or communities will be used to support and reward contributors in the ecosystem. The initial circulating supply includes 24 million for the presale (4.35 million for the private presale and 19.65 million for the public presale) and 4.5 million for ecosystem funds for partner protocols/communities.

Velocore adopts a structure known as ve(3,3) mechanics. It has a Vote-Escrow like Curve that incentivizes long-term token holding. It also has Staking/Rebasing/Bonding or (3,3) game theory that was designed by Olympus DAO. While the Liquidity providers receive $VC emissions, $veVC holders receive protocol fees, bribes, rebases, and governance power. In Solidly, voting rewards or bribes were claimable before the emissions from that vote were committed and it created a lot of problems. Velocore allows voters to make only one ‘active’ voting decision every epoch to solve the issue. $veVC holders decide which liquidity pools will receive emissions in a particular epoch by voting on their preferred liquidity pool gauges. $VC emissions get distributed proportionally to the total votes a liquidity pool receives. In return, voters receive 100% of the trading fees and bribes collected through the liquidity pool they vote for.

Velocore has a launchpad where new projects can launch their IDOs. Many projects have shown interest in launching their IDOs on Velocore and presently, the team is selecting the best ones. Velocore has a strong due diligence and selection mechanism. The selection mechanism includes parameters like the synergy with Velocore for long-term sustenance, utilization of Velocore LP and activating trading, project design and tokenomics etc. A lending protocol is also in the roadmap of Velocore. The permissionless and decentralized lending protocol is being designed to support various types of assets - cryptocurrencies, stablecoins, and tokenized real-world assets. It will allow users to deposit their assets to earn interest or borrow assets by providing collateral.

Velocore has accumulated good amount of $ETH through its recent sales. This project has the first ve token on zkSync Era and the investors have responded positively. Community is the key factor for building any DeFi protocol and Velocore decided to value its early users. The project has already given up to 4 POAPs to the early bird Velcrew members who achieved various trading milestones before the upcoming presale. Airdropped $VC tokens will be distributed through linear vesting over a period of 2 months to the POAP holders. The project also wants to give back the future potential zkSync airdrop to the community. Velocore vows to innovate continuously. Just two days ago they launched a trade mining event. This time, they have teamed up with ReactorFusion, their upcoming launchpad project, to reward traders and liquidity providers with both 250,000 $RF tokens and a special ReactorFusion POAP. The event period is Apr 13th 2 PM UTC ~ Till the end of the $RF launchpad. You just need to trade on Velocore in the included pairs to participate in this event. If you have funds on zkSync Era, jump into Velocore and check it out. You need $ETH to cover all transaction fees. Use the official zkSync Era bridge to bridge assets to zkSync.

Follow Velocore on Twitter and Medium. Join their vibrant Discord if you have queries.

Follow Me

👉 Twitter @paragism_

Ethereum has seen scaling issues for a long time. The high gas fees due to network congestion remained a pain point. To address this issue, many scaling solutions have emerged. zkSync Era is an Ethereum Layer 2 scaling solution from Matter Labs that provides cheaper and quicker transactions than the mainnet. The biggest difference between Arbitrum and Optimism, the largest Layer 2 ecosystems and zkSync is the RollUp technology. While the previous two are based on Optimistic Rollup, zkSync is based on zk Rollup. The protocol raised almost $458 million in funding which is almost four times more than what Arbitrum raised. The beta version of the zkSync Era Mainnet Alpha became available on 24th March 2023. The DeFi TVL on zkSync Era has already crossed $120 million and some protocols have attracted great investor attention. Velocore** is one such project on zkSync Era that has the second-highest TVL of $25 million.**

Velocore is a low-slippage DEX on zkSync Era. It is built on the foundation established by Velodrome Finance, a fork of Solidly, on the zkSync era chain. Velocore is dedicated to providing an attractive and sustainable solution for liquidity needs as the team recognizes liquidity as one of the most critical components of DeFi projects. The project has made a lot of changes to the Solidly codebase to make it better and enable fair compensation for liquidity providers, considering impermanent loss. The UI is simple and minimalistic. The swap feature allows you to swap between Velocore-supported stable and volatile assets. You can also provide liquidity to the protocol to earn lucrative rewards. The USDC-WETH pool which is quite safe has 28.98% APR now. A bit riskier WETH-VC pool has an APR of 241.36%.

$VC is the utility token of Velocore. The protocol liquidity providers get rewarded $VC through emissions. The initial supply of $VC is 60 million. Weekly emissions start at 1.4M $VC (2.33% of the initial supply) and decay at 1% per epoch. Velocore has another token in the ecosystem. $veVC is used for governance. Any $VC holder can vote-escrow their tokens and receive $veVC which is also known as veNFT in exchange. Additional tokens can be added to the $veVC NFT at any time. The lock period of $veVC can be up to 4 years. There is a linear relation between $VC and $veVC. For example - 100 $VC locked for 4 years will become 100 $veVC; 100 $VC locked for 1 year will become 25 $veVC. These veNFTs and tokens allocated to partner projects or communities will be used to support and reward contributors in the ecosystem. The initial circulating supply includes 24 million for the presale (4.35 million for the private presale and 19.65 million for the public presale) and 4.5 million for ecosystem funds for partner protocols/communities.

Velocore adopts a structure known as ve(3,3) mechanics. It has a Vote-Escrow like Curve that incentivizes long-term token holding. It also has Staking/Rebasing/Bonding or (3,3) game theory that was designed by Olympus DAO. While the Liquidity providers receive $VC emissions, $veVC holders receive protocol fees, bribes, rebases, and governance power. In Solidly, voting rewards or bribes were claimable before the emissions from that vote were committed and it created a lot of problems. Velocore allows voters to make only one ‘active’ voting decision every epoch to solve the issue. $veVC holders decide which liquidity pools will receive emissions in a particular epoch by voting on their preferred liquidity pool gauges. $VC emissions get distributed proportionally to the total votes a liquidity pool receives. In return, voters receive 100% of the trading fees and bribes collected through the liquidity pool they vote for.

Velocore has a launchpad where new projects can launch their IDOs. Many projects have shown interest in launching their IDOs on Velocore and presently, the team is selecting the best ones. Velocore has a strong due diligence and selection mechanism. The selection mechanism includes parameters like the synergy with Velocore for long-term sustenance, utilization of Velocore LP and activating trading, project design and tokenomics etc. A lending protocol is also in the roadmap of Velocore. The permissionless and decentralized lending protocol is being designed to support various types of assets - cryptocurrencies, stablecoins, and tokenized real-world assets. It will allow users to deposit their assets to earn interest or borrow assets by providing collateral.

Velocore has accumulated good amount of $ETH through its recent sales. This project has the first ve token on zkSync Era and the investors have responded positively. Community is the key factor for building any DeFi protocol and Velocore decided to value its early users. The project has already given up to 4 POAPs to the early bird Velcrew members who achieved various trading milestones before the upcoming presale. Airdropped $VC tokens will be distributed through linear vesting over a period of 2 months to the POAP holders. The project also wants to give back the future potential zkSync airdrop to the community. Velocore vows to innovate continuously. Just two days ago they launched a trade mining event. This time, they have teamed up with ReactorFusion, their upcoming launchpad project, to reward traders and liquidity providers with both 250,000 $RF tokens and a special ReactorFusion POAP. The event period is Apr 13th 2 PM UTC ~ Till the end of the $RF launchpad. You just need to trade on Velocore in the included pairs to participate in this event. If you have funds on zkSync Era, jump into Velocore and check it out. You need $ETH to cover all transaction fees. Use the official zkSync Era bridge to bridge assets to zkSync.

Follow Velocore on Twitter and Medium. Join their vibrant Discord if you have queries.

Follow Me

👉 Twitter @paragism_