The Universe wallet aims to be a trader-oriented DeFi wallet akin to Metamask and other decentralized wallets like Lobstr and Trust, and many others out in the market, but with added features and benefits by linking up with the Velo, and by extension, Lightnet’s ecosystem.

Because the wallet is linked to not only Velo’s Universe exchange, but also Orbit, Velo’s own crypto payment superapp whereby crypto-to-fiat transactions can be made easier, this wallet will thus not only bridge the gap between TradFi and DeFi but also real world assets and digital currencies.

This is in tandem with the projected  2024 roadmap that Velo has set out for its products and services, whereby the full potential of the Universe wall will be unlocked via our hybrid DEX and Orbit, and our partners’ dApps in the future, along with cross bridges and the influx of liquidity into Velo’s ecosystem.

Connecting Decentralized Wallets like Metamask to Velo’s Ecosystem (Universe, Orbit)

If the user already has a Metamask wallet, all he or she has to do is follow the steps depicted in the illustrations below:

First download a Metamask wallet if you don’t already have one, and set it up.

Then set up your password and secure your wallet.

Step 1: How to connect Metamask wallets to Universe

Step 2: Setting up your Metamask wallet

Step 3: Note down your recovery phrases 

Step 4: Login to Universe exchange and click on the “Get NOVA” tab at https://universe.velofinance.io/en-us/contract/quote/BTC2302230000 . The option to connect the Metamask wallet will be shown and voila! You have connected your wallet!

Step 5: Making sure that the wallet is connected to Universe so you can receive NOVA tokens via our designated NOVA faucet for the NOVA tokens to be used as gas fees in Orbit. NOVA tokens will not be listed on any exchanges to keep the price stable for Orbit and also to prevent hoarding, hence users can feel safe holding them in their decentralized wallets.

Step 6: This is what will be shown when the process is successful when it comes to receiving the NOVA tokens.

Step 7: Deposits and Withdrawals on Metamask

This is just a primer on how decentralized wallets work in the Universe system and illustrates how Metamask works perfectly fine in the Velo ecosystem.

In the future, more dApps will be connected and users can leverage them via the synergies offered on our platforms be it Universe, Orbit, Velo Finance or even the services offered by our partners.

This will be one of Velo’s main aims - to make DeFi and blockchain simpler for the masses by harnessing CEX and TradFi features.

Velo Labs - Supercharging the Velocity of Money
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Written by Sean Lai