About Velo.org
Velo.org is a blockchain-based financial protocol enabling digital credit issuance and borderless asset transfer for businesses using a smart contract system. Velo is a blockchain-based financial protocol enabling digital credit issuance and borderless asset transfer for businesses using a smart contract system. Velo’s core mission is to build a decentralized settlement network that allows partners to safely and securely transfer value between each other in a timely and transparent way.
| Platform | Airdrop Start | KYC | Website |
|---|---|---|---|
| Stellar | 2021-02-24 | KYC for users is NOT a requirement | Click Here To Visit |
Mission
Velo’s core mission is to build a decentralized settlement network that allows its Trusted Partners to securely transfer value among one another in a timely and transparent manner. Velo’s initial focus would be on business partners in the remittance and money transfer spaces in Southeast Asia followed by the wider Asia Pacific region and beyond.
Digital Credit Issuance
Velo opens new opportunities for businesses that are seeking innovative ways to serve the unbanked and underbanked populations across the global.
Digital Reserve System
The Digital Reserve System is an algorithmic rule set implemented by smart contracts that manage various aspects of the Velo Protocol. Its goal is to foster secure digital credit settlement by managing the pools of VELO token collateral backing the digital credits through a rebalancing mechanism.
Velo Ecosystem
The Velo Protocol is a value transfer engine that will initially consist of two components: a Digital Credit Issuance Mechanism and the Digital Reserve System. Together, these components will allow Trusted Partners to tap into the reach, operational efficiency and transparency of the Velo Protocol and its underlying distributed ledger technology. The Velo Protocol will enable multiple business use cases that are all based on its core function: that of issuing collateral backed digital credits that can be used for frictionless value transfer.
Cross-border Remittance
The Velo Protocol allows agents of Trusted Partners to connect directly and digitally to one another instead of going through the multiple settlement layers of the tradional financial system, thereby saving costs, improving transparency and speeding up the entire process.
Lending
Through Velo, lending has a chance to be transformed, streamlined, digitized,made cheaper and more efficient by bypassing the traditional banking infrastructure.
Digital Credits
The Velo Protocol can issue bespoke digital credits to suit the needs of any business without burdening corporate users with having to create and manage their own digital credits.
Payments
The Velo Ecosystem has the potential to link the different markets in Southeast Asia into one widespread payment gateway with digital and physical payment points.
Loyalty Points
Velo seeks to improve the fungibility of loyalty and gift points issued by Trusted Partners by enabling secondary market for points and digital credits that are issued by the Velo Protocol.
Velo Tokens
VELO tokens are utility tokens designed to ensure the settlement of digital credits issued in the ecosystem by being used as smart contract locked collateral for value transfers. Value for VELO token holders will increase as demand for digital credits grow and transfer volumes increase with the addition of more business partners and end users. The VELO token’s utility lies in its double feature as both collateral and as an entrance requirement to the Velo Ecosystem. Each use of the Velo Ecosystem starts with the deposit of fiat and the issuance of a matching amount digital credits by engaging the Velo Protocol, which requires VELO tokens.
As more Trusted Partners join the Velo Ecosystem and as each of their businesses grow, the demand for newly issued digital credits, and subsequently VELO tokens, will also grow. The expansion of the Velo Ecosystem will create demand for VELO tokens in the open market because Trusted Partners will need to purchase or borrow the tokens to receive digital credits to meet their operational demands. Digital credit flow and settlement will be managed by the Digital Reserve System whose operation will facilitate the growth of the network and the value of the VELO token in an orderly manner.