Velora, the most advanced intent-based, cross-chain trading protocol in Decentralized Finance (DeFi), today announced the launch of its new $VLR token. The protocol has processed over $125 billion in cumulative trading volume and is integrated by leading DeFi platforms, such as Aave, Morpho, and Pendle.
This structural upgrade replaces its previous PSP token and signals a decisive shift towards a simpler, more sustainable protocol. By eliminating gas fees, unifying staking on Base, and tying rewards directly to protocol revenue, $VLR positions Velora as a durable financial infrastructure built for long-term growth and deeper alignment with its community.
“Velora is entering a new era,” said Mounir Benchemled, founder of Velora. “This token launch is more than a technical upgrade; it’s about removing barriers, aligning our incentives with the community, and setting governance standards with transparency. With $VLR, we’re building a protocol that’s designed to last, one that strengthens Ethereum’s roadmap and demonstrates how DeFi can evolve into sustainable financial infrastructure.”
Migration begins on September 16, 2025, with a one-click, gasless upgrade to Base and will remain open for at least one year. Holders of PSP, sePSP1, and sePSP2 must migrate to access governance, staking, and rewards. Those who migrate before December 16 will receive additional $VLR rewards with no lockups or vesting, and after that date, migration will remain available but without bonus incentives.
This transition consolidates Velora’s token model into one unified asset, simplifying the experience and reinforcing long-term participation. PSP rewards will end immediately after the token launch.
Formerly known as ParaSwap, Velora has been a pioneer in on-chain execution since 2019. Its intent-based architecture uses Multi-Asset Pathing (MAP) to unlock better pricing, higher success rates, and access to harder-to-reach liquidity. Recently, the protocol introduced a fully bridge-agnostic execution layer starting with Across Protocol and Stargate, and continues to expand its ecosystem reach.
Velora’s momentum highlights the importance of this launch. In August 2025, the protocol’s monthly trading volume exceeded $7 billion, an all-time high.
The debut of $VLR is also one of the final milestones in Project Miró, Velora’s initiative pushed by the DAO to redefine its brand, token model and governance for the next phase of growth. By reshaping how value flows through the protocol, Project Miró strengthens Velora’s foundation for sustainable expansion. Beyond the mechanics of migration and staking, $VLR represents a philosophical shift in how DeFi protocols can evolve. Aligning incentives with real protocol usage rather than relying on inflationary models, Velora offers its community a system designed for durability, where governance, liquidity, and incentives all contribute to long-term protocol health.
For more information and migration details, visit https://www.velora.xyz/.
About Velora
Velora is the most advanced intent-based trading protocol in decentralized finance. Built to go beyond aggregation, Velora delivers fast, gas-efficient, and MEV-protected execution across chains through a decentralized agent system. With products like cross-chain swaps, limit orders, and Super Hooks, Velora serves end users and developers via its powerful web app and API integrations. Previously known as ParaSwap, Velora has redefined its mission around speed, precision, and accessibility in on-chain trading.
About Mounir Benchemled
Mounir Benchemled is the founder of Velora (formerly ParaSwap), one of the earliest products in DeFi and a pioneer of intent-based trading. With a background spanning over five years in decentralized finance, Mounir helped evolve Velora from a simple aggregator into the most advanced intent-based trading protocol. Under his leadership, Velora introduced groundbreaking features like agent-based execution, cross-chain swaps, and MEV protection, enabling a faster, smarter, and more unchained trading experience. Mounir is a recognized voice in the space and is known for pushing the boundaries of on-chain execution and DeFi UX.