In the fast-paced world of DeFi, rebranding can be a game-changer, just like we've seen with Maker becoming Sky, Fantom turning into Sonic, or Aave evolving from Ethlend. These shifts often spark fresh growth and innovation. Recently, ParaSwap, a popular DEX aggregator handling over $360 million in daily trading volume, has undergone a similar transformation into VeloraDEX. Let's dive into what's new, based on a insightful thread from Pink Brains.

Upgrades to the Core Swap Engine

VeloraDEX has revamped its swap engine with Delta, an intent-based trading system. This upgrade brings several cool features that make trading smoother and more efficient:

• Instant cross-chain swaps across 10 EVM-compatible chains, allowing you to trade assets seamlessly without waiting for bridges.
• Advanced limit orders for setting specific buy or sell conditions.
• MEV protection to shield your trades from miners extracting value unfairly (MEV stands for Miner Extractable Value, a common issue in blockchain transactions).
• Gasless transactions, meaning you don't have to worry about paying gas fees upfront.
• Super Hooks, which let developers create dynamic, multi-step actions that execute smoothly within apps.

These enhancements are designed to make DeFi trading faster and more user-friendly, much like how a cheetah sprints across the savanna—hence the cool pixel art logo!

Impressive Growth Post-Rebrand

The rebrand seems to be paying off big time. Since early April, Velora's weekly trading volume has skyrocketed from $700 million to $2.5 billion. That's a massive jump, positioning Velora as the third-largest DEX aggregator by volume. For context, DEX aggregators are tools that scan multiple decentralized exchanges to find the best trade prices for you.

This growth isn't just hype; it's backed by real product improvements and strategic campaigns. While some volume might come from incentivized programs, the core upgrades are clearly driving organic interest.

The Token Evolution: From PSP to VLR

The original ParaSwap token, $PSP, handles governance and staking for revenue sharing. Users can stake it in pools like sePSP2 (paired with ETH) or sePSP to earn rewards and participate in DAO votes. However, the setup is a bit fragmented, mostly on Ethereum, and can be complex for newcomers.

Enter $VLR, the new token set to replace PSP on a 1:1 basis. Here's what makes it better:

• Launched on Base for lower fees, with plans to expand to BNB Chain and beyond.
• Unified for both staking and governance.
• Rewards linked directly to your contributed liquidity.
• Easily bridgable using Across Protocol.

This migration aims to simplify things and attract more users across chains. The "Hunt for VLR" campaign has already boosted staker activity by 36%, increased ecosystem token volume by 500%, and spiked PSP trading volume sixfold to over $3 million at its peak.

Exciting Campaigns and Community Engagement

To kick things into high gear, Velora is running the Snaps Campaign on Cookie.fun, with a whopping $350K in VLR rewards. This three-month initiative rewards top participants and is drawing in early adopters. If you're into DeFi, this could be a great opportunity to get involved.

Pink Brains, co-founded by DeFi experts like @DefiIgnas, is supporting Velora as a DAO delegate. They're all about long-term growth through education and communication. For more details, check out their full article here.

As the DeFi landscape evolves, rebrands like this show how projects can reinvent themselves to stay competitive. Whether you're a trader, developer, or just curious about blockchain tech, VeloraDEX is worth watching. Stay tuned for the VLR launch and see how it shakes up the aggregator space!