Overview of Velo Protocol
Velo is a blockchain-powered financial protocol enabling businesses to issue digital credit and conduct cross-border asset transfers through smart contracts. Headquartered in the British Virgin Islands, Velo's decentralized settlement network provides Trusted Partners with secure, transparent value transfers—primarily serving Southeast Asia's remittance sector with plans for global expansion.
Core Features:
- Digital Credit Issuance: Smart contract-based solutions for businesses
- Borderless Transfers: Frictionless cross-border asset movement
- Decentralized Network: Transparent settlement infrastructure
- VELO Utility Token: Facilitates network operations and ecosystem access
VELO Token Utility and Functionality
👉 Discover how VELO powers decentralized finance
$VELO tokens serve three primary functions within the ecosystem:
- Value Transfer Medium: Enables stable settlement between partners
- Network Collateral: Secures the protocol's operations
- Ecosystem Access: Required for participation in Velo's financial services
The token's dual nature as both collateral and access mechanism creates a sustainable economic model while maintaining network integrity.
Nova Chain: Velo's EVM-Compatible Infrastructure
Velo operates Nova Chain, an Ethereum Virtual Machine (EVM)-compatible blockchain supporting:
- Decentralized application (dApp) deployment
- Simplified user onboarding
- Wallet service integration
Key aspects of Nova Chain:
| Feature | Description |
|---|---|
| Gas Token | NOVA (no monetary value) |
| Faucet System | NOVA distribution with anti-hoarding measures |
| Compatibility | Supports Ethereum-based smart contracts |
Leadership and Strategic Vision
Founded by Chatchaval Jiaravanon, Velo Labs combines:
- Experienced Leadership: Seasoned executives from finance and tech sectors
- Technical Expertise: Blockchain developers and software engineers
- Academic Partnerships: Advisory support from top university affiliates
The team's hybrid background enables balanced development of both technological infrastructure and business adoption strategies.
Supported Platforms and Integration
Velo's network compatibility includes:
- Major cryptocurrency exchanges
- Remittance service providers
- Digital wallet solutions
- Cross-border payment gateways
👉 Explore Velo's partner ecosystem
Frequently Asked Questions
What makes Velo different from traditional remittance systems?
Velo eliminates intermediary delays through blockchain settlement, reducing costs while increasing transparency compared to conventional money transfer services.
How do businesses benefit from using VELO tokens?
Companies gain access to:
- Instant settlement capabilities
- Reduced foreign exchange friction
- Programmable credit facilities via smart contracts
What's the long-term vision for Nova Chain?
The chain aims to become Southeast Asia's premier dApp onboarding platform while maintaining EVM compatibility for developer familiarity and ecosystem interoperability.
How does the NOVA token faucet work?
Users can request small NOVA amounts for gas fees when interacting with Nova Chain dApps, with request limits preventing abuse while ensuring fair access.
Which industries does Velo primarily target?
Initial focus includes:
- Remittance providers
- Cross-border e-commerce
- Digital banking services
- Supply chain finance operators
Conclusion: Velo's Position in DeFi Evolution
Velo represents a specialized approach to decentralized finance, bridging traditional financial services with blockchain efficiency. Its focus on practical business applications—particularly in emerging markets—positions the protocol as a pragmatic solution for institutional blockchain adoption.