What happened?
Velora, formerly known as ParaSwap, has launched a new platform with an upgraded system called Delta v2.5. This rebranding follows closely after a DAO vote about returning fees to Bybit from exchanges involved in a hack by the Lazarus Group. Velora’s new model focuses on improving trade speed, flexibility, and cross-chain functionality with features for advanced traders.
Who does this affect?
The rebranding to Velora affects current users of ParaSwap as well as advanced traders seeking efficient blockchain transactions. Its updates target developers and traders who need faster transactions and more sophisticated trading options. The changes also impact DAO members investing in governance decisions and anyone linked to the decentralized finance ecosystem.
Why does this matter?
This rebrand is significant in the DeFi market as Velora aims to overcome existing limitations in DEX aggregation with its innovative technology. By enhancing speed and functionality, Velora seeks to capture a larger market share, potentially disrupting competitors relying on outdated models. It marks a substantial shift in how DeFi platforms may operate in the future, focusing on user empowerment and cross-chain interoperability.