Velo Protocol is a hybrid blockchain solution that connects traditional finance with the Web3 ecosystem, creating a decentralized network for issuing digital credits and asset transfers.
What is Velo Protocol?
Velo Protocol develops a network for exchanging digital credits, enabling businesses to issue digital credits and transact globally. The native token, VELO, serves multiple functions, including transaction fee payments and liquidity provision. This protocol was built on Stellar Consensus Protocol, ensuring fast and secure transaction processing.
How Does Velo Protocol Work?
The system manages digital credits that are fully backed by VELO tokens. Verified business entities, referred to as Trusted Partners, can deposit tokens into the platform and receive equivalent digital credits in return. This allows for low-cost and fast transactions, comparable to traditional payment systems.
Key Components and Technologies of Velo
Velo Protocol offers several innovative solutions, such as a decentralized exchange (DEX) that supports high throughput and low fees. The platform also features PAYFAI, an AI-driven layer that optimizes transactions and foreign exchange operations. Operating on Stellar, Velo ensures speed and efficiency in real financial applications.
Velo Protocol represents a powerful tool for simplifying financial operations and expanding access to financial services for users worldwide. Its further development, including expansion into European and North American markets, underscores the project's potential within the global economy.
