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Information about Velodrome Finance (VELODROME)
Velodrome Finance serves as the liquidity foundation for the Optimism whole ecosystem. Velodrome Finance is based on the basis laid down by Solidly, a well-known AMM on Fantom, with ve(3,3) mechanism in early 2022, with significant adjustments.
Velodrome Finance (VELO) stands as a beacon of innovation in the decentralized finance (DeFi) landscape, leveraging the power of the Optimism network. This technology is a next-generation Automated Market Maker (AMM) that synthesizes the strengths of Curve, Convex, and Uniswap, creating a robust platform for trading and liquidity provision.
By operating on the Optimism network, Velodrome Finance benefits from the scalability and efficiency of this Layer 2 solution, which significantly reduces transaction fees compared to traditional Ethereum Layer 1 decentralized exchanges (DEXs). Velodrome Finance is currently the largest DEX in the Optimism ecosystem, with a total value locked (TVL) of $78.51 million.
VELODROME is a native coin of the Velodrome Finance ecosystem, operating on Optimism according to ERC20 standard, and can be used to:
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