What is Velo?

Velo is a blockchain-based financial solutions provider that focuses on facilitating secure and efficient value transfers across different networks. It leverages blockchain technology to offer a range of financial services, including a liquidity and settlement network that ensures safe and transparent transactions. At the heart of Velo's offerings is its mobile application, Orbit, designed for peer-to-peer (P2P) payments, allowing users to transfer value easily and securely. Additionally, Velo has developed a multi-chain bridge, Warp, which enables the seamless movement of assets across various blockchain networks, enhancing interoperability and flexibility for users.

Central to Velo's ecosystem is its utility token, VELO. This token plays a crucial role by acting as collateral and serving as an entrance requirement for participating in the Velo Ecosystem. The use of VELO tokens facilitates value transfer and stable settlements on the Velo network, underpinning the financial transactions within its platform. The total token supply is 24 billion VELO. There were originally 30 billion tokens, but 6 billion have been burned.

Velo Labs, the entity behind Velo, is committed to building a federated credit exchange network powered by the Velo Protocol. This innovative protocol is a blockchain financial protocol that enables the issuance of digital credit and borderless asset transfers for businesses. It utilises a smart contract system for this purpose, relying on the Stellar Consensus Protocol for processing and settling transactions efficiently and securely.

The project's core mission is to empower partners to transfer value safely, securely, and transparently. By enabling the issuance of collateral-backed digital credits, which can correspond to any fiat currency, the Velo Protocol facilitates frictionless value transfers. This capability supports multiple business use cases, all centred around the protocol's fundamental function of issuing digital credits.

In summary, Velo stands as a comprehensive blockchain solution aimed at enhancing the way value is transferred and settled across different networks. Through its innovative use of blockchain technology, Velo is paving the way for more secure, efficient, and transparent financial transactions in the digital age. As with any investment in cryptocurrencies, it's important to conduct thorough research to understand the risks and potential benefits

What are the pain points that Velo solves?

What key events have there been for Velo?