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October 11, 2024

Update on Velo-OUSDV Pool & Reward Distribution

Dear Customer,

After a thorough investigation, our development team has confirmed that the Velo-OUSDV pool remains secure. The issue regarding the rewards encountered on September 7th was due to the reward cap limit, set in the smart contract when the pool was created, having been reached, therefore, no rewards were distributed from Sunday, September 8th onwards.

To address this, management has agreed to extend all Velo Flexible Pools, including the Velo-OUSDV pool, for an additional six months. During this period, an allocation of 3.472 Velo per block will be distributed in rewards, following the AMM Farm tokenomics structure of each flexible pool.

Please be assured that all concerns have been escalated to the board of management for further review, and any compensation will be evaluated on a case-by-case basis.

Additionally, as previously communicated on our website, official support for O-USDV has been discontinued. However, Old USDV will continue to operate within the Velo.finance ecosystem until February 2025, with its price and rewards determined by AMM Liquidity Pool dynamics and Velo reward tokenomics.

We will maintain the VELO/O-USDV pair pool, allowing current holders to claim accrued rewards and exchange their tokens for VELO in the AMM pool. Please note, however, that we will not cover any potential impermanent loss associated with O-USDV.

If you encounter any issues, please follow these steps to receive support:

  1. Contact our dedicated support team at helpdesk@velo.org with a detailed description of the issue.
  2. Include a screenshot of your Velo rewards in the Velo-OUSDV pool, showing a clear timestamp for reference.
  3. Provide the wallet address used for farming activities.
  4. Attach any other relevant screenshots from the Velo Rewards pool.

Our technical support team will thoroughly investigate each case and respond directly via email.

For users interested in acquiring official USDV, please visit our Native OTC platform at OTC Mobile for an easy-to-use experience.

We sincerely appreciate your continued support and cooperation. Our team remains committed to providing the best possible experience on the Velo platform.

Best regards,The Velo Team