Velo’s tokens are first and foremost designed for utility, first in our networks and then in the networks of our partners. 

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With the emergence of blockchain, cryptocurrencies and the pursuit for more use cases via online payments using alternative forms of currencies - users are increasingly looking for projects that have real world value and unique propositions.

A meme coin or hyped-up project can only pump so much in a day. What Velo is building is something unique and sustainable that accrues real-world value and utility when it comes to our partners and users.

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Use Cases in Velo’s Own Ecosystem

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Firstly, in Velo’s own network, our $VELO token can be utilized to offset transaction fees when trading our Universe hybrid DEX exchange. This is the first and most obvious use case from the perspective of the company and the traders on our exchange, a common trait amongst exchanges with their own tokens.

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Secondly, users who hold $VELO tokens while utilizing them on our crypto payment superapp Orbit will also be allowed to receive NOVA tokens through our special faucet channel which will double up to reduce gas fees on the network, keeping Orbit cost effective. The NOVA gas tokens will not be listed on any exchanges to prevent hoarding and this is another fail-safe that Velo has thought about to ensure network efficiencies and long-term uniform costs.

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Thirdly, as Velo’s sister company Lightnet, which is involved in revolutionizing the remittance industry via the blockchain technologies that Velo possesses, our $VELO tokens will also be used in the borderless transfers between institutions and then retail uses down the road. Gone will be the days of costly, lengthy and legacy wrought systems between disparate and fragmented vendors in the remittance markets.

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By consolidating and cutting out inefficiencies in the legacy system, Velo can keep bottomline costs cheaper for both operators and consumers via our $VELO tokens.

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Use Cases in Our Partners’ Ecosystems

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$VELO tokens will be traded on more exchanges down the road in subsequent quarters. Our token is already listed on 13 exchanges, with the most recently being Bybit, on top of other well-known and popular exchanges like Huobi, Bithumb, Crypto.com, MEXC and many others. This will instill demand for $VELO as our product development goes on and new offerings are being launched in tandem with our internal timelines. Barring any unforeseen delays and technical issues that the team is currently and will continue to address, the blockchain applications that Velo is working on will put us in good stead to see the demand for the tokens to accrue. 

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Exposure via marketing and increasing visibility via our partners’ networks, AMAs and promotions through social media and fundraises will also increase the trading and utilization of $VELO.

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As Velo is also working with EvryNet to include more dApps and increase the number of interoperable networks in our ecosystem, $VELO tokens will also flood to other networks to be of use in terms of driving traffic and reducing transaction costs, thereby increasing demand for them. The innovative nature of dApps depending on their unique propositions will also lead to more use cases for $VELO tokens.

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