Thread by @Shitgem_xyz

🚀 The biggest #AMM on #Optimism with only $20M MC but holding $250M TVL

Just add $Velo @VelodromeFi to my portfolio!

MC: $20M; Price: $0.08

The OP eco will heat up again and all things've been done for the next big boom of $Velo

A thread on $Velo 🚪 why you shouldn't fade it

1️⃣ OP's bedrock upgrade

▪️ Bedrock is a huge upcoming upgrade for the Optimism chain that allows for reduced fees and transfer times up to 4x faster.

▪️ To catch details about Bedrock and the current state of Optimism, read this thread 👇🏻

https://twitter.com/Shitgem_xyz/status/1649116323706986496

2️⃣ A quick introduction to Velodrome.

▪️ Velodrome is an #AMM and a liquidity marketplace built on #Optimism, Velodrome is a fork of #Solidity.

▪️ Velodrome aims to provide the deepest liquidity, lowest slippage, and the best rates on the market for its users.

▪️ Currently, Velodrome is the largest protocol on Optimism which holds 30% TVL dominance of #Op ecosystem.

3️⃣ Velo token

▪️ Circulating supply: 242,087,784 VELO

▪️ MC: 20M

▪️ TVL: 247M

▪️ Currently, more than 75% of the total supply is locked in the form of veVELO for an average of 3.6 years.

▪️ Velo has generated ~$900K total trading fees which will distribute back to veVELO voters.

▪️ With its impressive performance, Velo is showing as the best successful protocol on Optimism.

▪️ But it doesn't stop here, the upcoming upgrade of Velodrome will boost the protocol and attract more Velo holders alike.

4️⃣ The V2 upgrade

[1] Concentrate liquidity

▪️ This feature can capture more trading volume without increasing TVL by minimizing slippage on big trades.

▪️ With adjustable fees, it can also benefit veVELO voters with higher fee rewards while reducing liquidity incentive expenses for the protocols.

[2] Adjust the trading fees

▪️ The whitelisted protocols will be able to set their fee for trading on their pools on Velodrome.

▪️ If the fees are set high, it may motivate $veVELO voters to allocate their emissions towards those pools, then earn more from the fees of the pool

[3] Velo Fed

▪️ veVELO holders can now vote to modify the monetary policy regarding the $VELO supply.

▪️ The platform offers 3 voting options: increase, decrease, or maintain current emissions, inviting holders to stake their $VELO tokens for locking purposes.

Maximum emission rate: 1% per week (52% per year)

Minimum emission rate: 0.01% per week (0.52% per year)

▪️ Currently, the emission rate stands at 0.98% per week, but veVELO holders will be able to decrease it as per the market trends.

[4] Launchpad

▪️ The launchpad feature will be released right after the V2 upgrade which will benefit VELO holders.

https://twitter.com/VelodromeFi/status/1646854671229677570

4️⃣ Conclusion

▪️ Velodrome's impressive performance has made it the most successful protocol on Optimism.

▪️ Velodrome V2 makes it even more worthwhile to look like an Ape.