#Velora reborn with a new token and governance strategy that could mark a milestone in the sustainability of DeFi

The cross-chain trading protocol Velora, formerly known as ParaSwap, has announced a complete transformation with the launch of its new token, #VLR .

This strategic change aims to leave behind its PSP token, eliminating inflationary incentives and replacing them with a model that aligns rewards directly with the protocol's revenues.

The PSP token has officially lost its utility in governance, staking, and rewards. Holders must now migrate their assets to VLR at a 1:1 ratio, a process that will be gas-free and with a single click on the Base network.

A Sustainable Model: Velora is abandoning inflationary incentives to adopt a more sustainable structure. The founder, Mounir Benchemled, stated that this change aims to establish a protocol that "can endure" and demonstrate how DeFi can evolve into a more robust financial infrastructure.

The Focus on Base: The migration to the Base Layer 2 network is a crucial step in Velora's strategy. The platform has opted for a unified staking center on this network, which could enhance efficiency and accessibility for users.

Transparent Governance: The launch of VLR is the result of the Miró Project, an initiative led by the DAO to review Velora's token model and governance for its long-term health.

#CryptoNews #BinanceAlpha $VLR