Velo (VELO) Price, Charts & Market Data

$VELO tokens serve as utility tokens within the Velo network, playing a crucial role in transferring value and ensuring stable settlement. They possess a dual feature, serving both as collateral and an entrance requirement to access the Velo Ecosystem. As collateral, $VELO tokens contribute to securing the network, while also serving as an essential element for participating in Velo's financial services and functionalities. These utility tokens empower businesses to engage in digital credit issuance and seamless cross-border asset transfers, fostering a more efficient and transparent financial ecosystem.

Furthermore, Velo operates Nova Chain, an EVM-compatible blockchain that supports other core platforms. Nova Chain's mainnet utilizes NOVA tokens as gas fees, which do not hold any monetary value. The chain focuses on user acquisitions for decentralized application adoption, simplifying the onboarding process for users interested in interacting with Velo's dApps ecosystem. Users can request NOVA tokens through a provided faucet, subject to specific balance thresholds to ensure equitable distribution and discourage hoarding. Nova Chain's role is to support the seamless operation of Velo's wallet services and contribute to the overall growth of Velo's decentralized application ecosystem.