Starting from 08:00 AM UTC on August 27th, we officially list Velo Token (VELO) on the ONUS application. Soon after VELO is added, users can perform the following features:
- Off-chain transactions: Send and receive VELO with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to VELO and vice versa.
Velo’s core product is a global, decentralized, and interoperable payments network that allows partners — businesses and individuals alike — to instantly transfer value across the globe, via an easy-to-use, secure and compliant system. International payments today use outdated technology and infrastructure that has made it expensive and slow to move money around the world. This problem is particularly apparent in developing countries, where there is a lack of liquidity for the domestic currencies on foreign exchange markets. Velo solutions, leveraging blockchain technology, will significantly improve international payments, delivering faster, cheaper and more secure payments to millions worldwide.
The Velo Protocol allows licensed financial institutions to create and exchange Velo digital assets pegged 1:1 to any local currency, and backed by VELO tokens, which act as a secondary guarantee to ensure settlement of all fiat deposits in the network. Businesses leveraging Velo digital credits can move value freely and efficiently, cross-chain and cross-border, in and out of any currency.
What is VELO Token?
VELO is a native token of the Velo ecosystem, operating on Stellar blockchain and can be used to:
- Serves as the network’s universal collateral for value transfers.
- Acts as an entrance requirement to the network.
- Name: Velo Token
- Symbol: VELO
- Platform: Stellar
- Type: Utility
- Smart Contract Address: GDM4RQUQQUVSKQA7S6EM7XBZP3FCGH4Q7CL6TABQ7B2BEJ5ERARM2M5M