Velodrome Finance (VELOD) Price, Charts & Market Data

Velodrome Finance's primary function is to enable token swaps and attract liquidity, thereby generating fees from traders. In this ecosystem, Liquidity Providers (LPs) are awarded VELO token emissions based on the votes accumulated by their pools, with the stipulation that only staked liquidity in the protocol gauges receives these emissions. Participants have the option to lock their VELO to become veVELO Voters, who play a critical role in determining the allocation of emissions for subsequent epochs. These voters are compensated with a share of the protocol's trading fees and additional incentives linked to their voting activities.

Although 'VELO' was the ticker assigned at the deployment of the Velodrome Finance token's smart contract, it is in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this association and to avoid confusion in the marketplace, the alternative ticker 'VELOD' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.