The DEX aggregator ParaSwap recently announced its rebrand to Velora and the launch of an intent-based trading feature. The transition includes the introduction of the Delta v.2.5 update aimed at enhancing flexibility in trade execution.
Velora Delta v.2.5 Update
The Delta v.2.5 update reportedly improves the flexibility and speed of trade execution on the DEX. Over the past month, ParaSwap has recorded 18,000 active users with 4.3 million smart contract interactions in the last 365 days.
Intent-based Trading and MEV Protection
ParaSwap first introduced intent-based trading in the summer of 2024, aiming to mitigate the negative impact of maximum extractable value (MEV) bots. Orders are submitted through a three-step process: first, the order is preprocessed to define the expected price, then it is sent to an auction to determine the most efficient execution strategy. Founder Mounir Benchemled stated that the presence of MEV affects not just individual transactions but also the overall fairness and decentralization of the DeFi ecosystem.
Benefits of Velora's New Approach
The implementation of intent-based trading in Velora offers greater customization. It gives users full control over their execution preferences and unlocks features like limit orders. The upgraded aggregator is also designed to enable seamless cross-chain trading and enhanced performance. 1inch co-founder Sergej Kunz remarked that intent-based systems alleviate much of this complexity from users.
The rebranding and new features of Velora aim to enhance user convenience and protection on decentralized platforms, potentially impacting trade efficiency in DeFi.
