Velo Labs organized an informal AMA to “touch base” with the #VELOcity community on the recent listing on Bybit and the project progress, both in the areas of products and marketing. Here is the summary of what Sean Lai, Velo Labs’ BDM & Sales/Marketing Analyst, has shared on behalf of the Velo Labs team.

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‍What is going on in Velo Labs?

• $VELO was recently listed on Bybit. Deposit $VELO to earn from $VELO pool on Bybit today.
• Velo has announced completed milestones, and their current focus is on its blog “VeInspire”.
• On marketing, Velo Labs has completed a brand revamp and has become more active in community engagement with videos, more AMAs, and more community events.
• On product, Universe is now Velo’s team's primary focus, along with USDV, Nova chain, and Nova token, which are instrumental in supporting the Web3+ ecosystem.
• The upcoming developments include Universe’s referral program with NFT that grants unique trading benefits, Metrics Dashboard, Orbit, Warp, and DApps.

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What the community asked?

‍Most voted questions

• Velo plans to engage more with KOLs and content creators through an affiliate program.
• Velo is aware of the situation on coin price, but this isn’t unique only to $VELO. As we gradually release the products and features, there will be more use cases and, subsequently, more demand for $VELO. 
• $VELO will be used as collateral to mint VStablecoins, a ticket for unique benefits for products in the Web3+ ecosystem, and a vote in future DAOs.
• Velo is still working with Stellar Development Foundation and the advisors.
• Being a part of an “ecosystem for limitless global fund movement” is Velo Labs' competitive advantage. Velo Labs' sister firms, Lightnet and Inception, allow Velo’s access to global compliance. Velo wants to be a clearinghouse for CBDCs (Central Bank Digital Currencies).

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Other questions

• Wrap is our cross-chain bridge. It will support 3 chains: Stellar, BSC, and Ethereum. However, it has yet to be officially opened to the public. For holders with cross-chain needs, we recommend using an exchange to transfer $VELO cross-chain, e.g., Bitget offers $VELO on both BSC and Stellar.
• Velo plans to make more videos on YouTube channels, mainly a how-to to support the launch of Universe. 
• Velo Launchpad is in the pipeline for projects on the Nova chain. Velo will incorporate DAO for governance and voting.
• Velo will incorporate campaigns with KOLs (and trading communities for Universe) and airdrops, lucky draws, bonuses, and other incentives to promote interest among the external crypto communities.
• VELO is Velo Labs’ native token, USDV is Velo’s stablecoin, and NOVA is a gas token for transactions on the NOVA chain.
• Orbit uses Velo network gas costs for NOVA tokens. To prevent speculation and stockpiling, NOVA tokens are not listed on exchanges.

Keep missing out on the live AMA and the latest news & updates? Follow Velo Labs https://linktr.ee/velolabs

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