Velodrome — a trading & liquidity dApp on Optimism — Joins the DePocket’s dashboard.
The market is still really quiet these days with very little gains to be made. Smart investors use this time to increase their knowledge, and look for opportunities to invest in. When the market experiences an uptrend, the right decisions can be made.
DePocket continues to use this ‘Bear’ market opportunity to update and improve their platform, and prepare for an exciting future to come. DePocket’s new design is fast approaching as it nears completion with newly integrated dApps that will significantly expand their ecosystem making life easier for the smart investor. The most recent integration includes today’s topic, ‘Velodrome’.
What we know about Velodrome!
Velodrome is a decentralized exchange deployed on the Optimism blockchain. It is designed as a trading and liquidity marketplace for that network, and was launched on May 31st, 2022. According to many, Velodrome is giving Uniswap a run for its money.
Their mission is to be the liquidity base layer of Optimism, allowing users to trade digital assets in a secure way, with very low fees and low slippage.
What was special about Velodrome’s launch on Optimism?
As an AMM adapted from Solidly, Velodrome shares certain features with other AMMs like Uniswap, but with certain modifications:
- a trading fee of only 0.02%
- near-zero slippage on uncorrelated, or tightly correlated digital assets
- route trades through stable and volatile asset pairs
- no-upkeep, flash loan-proof, and a 30-minute time-weighted average price (TWAP) with direct quoting support
What can users do after the DePocket integrated Velodrome?
Users on both sides can easily manage their assets through the DePocket App, which incorporates a multichain / multi-wallet feature. Further to this, investors can create and follow all whale wallets to see where the flow of money is rolling. Also, DePocket offers a great platform for investors to perform swaps with the cheapest fees available. In the end, it’s just a simple, convenient app that is really beneficial to the smart investor.
Try our wallet now: https://app.depocket.com/addresses/0x73d38d824fb2a24d1d888da0e582a850cb34343b
Don’t forget to stay tuned for more good news.
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