AMA WITH Pat VELO COO RECAP

Introduction Segment :

Q1. What does Web3+ mean and how is it different from Web3?

Ans: 1. Since the LUNA/UST and FTX incident there has been a heavy move away from centralised infrastructure platforms (Web2) where transparency around proof of funds to support centralised exchange operation or algorithmic stablecoin operations was becoming a growing concern for all users.

2. Web3 as a technology is effectively a trustless environment where the interaction is between A and B party only

3. Web3+ takes the best part of what people came to expect in a web2 in centralised exchanges, provides a collateralised stablecoin for the ecosystem operation, as well as the trustless nature of Web3 into a single ecosystem.

Q2. What else is Velo working on this year? (Future of Perp.velofinance.io, lending, options)

Ans: We are working continuously and recently we have updated the website, you will get to see more new chances in coming time and also we are talking with some institutions. You will see these developments in the coming months and weeks, as follows

1. Brand refresh

2.New products

3. Universe

4. Orbit

5. Warp

6. Velofinance

7. FCX & remittance

✅You can read more in detail here

https://www.velo.org/blog/2023-velo-product-roadmap-update

Q3. FCX launch and how it works with Web3+?

Ans: Velo’s mission is revolutionizing financial services through the use of blockchain technology. The first solution we brought to market was international payments, which we continue to expand to improve remittance for millions world wide. The second area, which we are excited to announce today, is a phenomenal new digital trading platform, named Velo FCX, or the Velo Federated Credit Exchange, which we are now testing with live transactions in our Alpha phase.

Built from the ground up, the Velo FCX platform is a capability and industry leading digital asset trading platform, customized for the needs of institutional traders, retail investors and trusted Velo partners. Our platform provides exclusive trading opportunities across a wide inventory of Velo and non-Velo digital assets, extending to custom Velo digital credits (USDV, AUDV, HKDV etc), non-Velo stablecoins (USDT, USDC, DAI), Velo Tokens and ultimately even Bitcoin!

The Velo FCX platform offers exclusive high-yield staking events and large APY returns, available only on Velo digital assets. Plus, in the future, we will level up your staking game with collateralized margin trading: use your actively staked positions as collateral for trading against other digital assets on the platform. It’s trading, evolved.

Built from the ground up, the Velo FCX platform is a capability and industry leading digital asset trading platform, customized for the needs of institutional traders, retail investors and trusted Velo partners. Our platform provides exclusive trading opportunities across a wide inventory of Velo and non-Velo digital assets, extending to custom Velo digital credits (USDV, AUDV, HKDV etc), non-Velo stablecoins (USDT, USDC, DAI), Velo Tokens and ultimately even Bitcoin!

The Velo FCX platform offers exclusive high-yield staking events and large APY returns, available only on Velo digital assets. Plus, in the future, we will level up your staking game with collateralized margin trading: use your actively staked positions as collateral for trading against other digital assets on the platform. It’s trading, evolved.

1. Launched and has about 100m trading volume per day

2. Working with Lightnet and MTO on remittance

3. Remittance is potentially a channel for on/off ramp for stablecoins to fiat and vice versa

4. At this stage, FCX is technically launched and has been operational with a select group of partners since early September. The on-chain transactions for FCX are available if you search in Stellar Expert for USDV!

5. FCX is simply put, its a digital fiat trading platform that works in the same manner as a traditional FX exchange does, but with digital currencies pairings.

6. We will be looking to bring FCX online once we’ve completed the full Web3+ ecosystem launch

✅You can read more here:

https://medium.com/veloprotocol/velo-fcx-the-next-evolution-in-digital-asset-trading-d30500067d43

Q5.Could you explain a little more about the $VELO & $USDV token function? How does all of this improve the price of $VELO in the long run?

Ans: $USDV will be the primary currency for use in our new ecosystem as the trading pair in place of USDC/USDT/etc. You can swap either direction 1:1 with USDV to trade in the ecosystem.

$VELO on the other hand is the pool from which the Vstablecoins will be minted from. Effectively is a similar function to what is covered in our whitepaper on Digital Reserve System, but instead of using fiat currency in escrow, we’re using USDT/USDC.

Community Questions:

1. Will there be opportunities to provide liquidity in the form of AMMs for Velo/USDV, Velo/XLM, USDV/EURV, etc? On Stellar for FCX and for Nova chains utilised by Orbit and Universe? If so what ones?

Ans: Velo for Treasury, USDT, USDC

2. Is velo still affiliated with @StellarOrg and if so, to what extent?

Ans: Stellar is a long term partner and will continue to be.

Since the beginning, they have been not only supporting of not only what Velo is aiming to achieve for the unbanked/underbanked, but also in driving transactions and retail usecases over the Stellar network

3. What listings are coming in 2023? When Binance?

Ans: We are unable to share what exchanges we are listing on but we do have a number planned to launch later this year please stay tuned with us.

4. What are your Marketing Plans & Strategy to bring in Volume to the Platform?

Ans: Besides the increased engagement in Telegram and on Twitter, you’ll start to see a lot more about Velo in the mainstream media

The new website is designed to allow you to easy find a lot of what is share and publish as well and we’ve simplified the use of our social media channels too!

Plus you'll be seeing more AMAs on Community and community engagement events launching soon. Also we are in contact with many Twitter influencers who will spread Velo to the crypto world

5. WIll there be plans for future Burns? Buy back and burn?

Ans: There are No plans to burn any more. This is just an optics play any xlm token has seven decimal places. Bsc/eth have 18. Functionally for the time being we will need the amount currently specified as total supply, but a large percentage are needed to be held in the Reserve to run the ecosystem

Burning tokens is not a solution that fixes token price. There is no consideration to burn more tokens at this stage because reduced supply will potentially impact the broader function of the ecosystem

its not off the table, but it is only something that really makes sense for projects with 100s of billions or more in supply

last year we burner 6 Billions Tokens from that total supply you can check here👇 thanks ☺️

https://t.me/veloprotocol/215638

Follow us:

Medium: https://medium.com/veloprotocol

Telegram:https://t.me/veloprotocol

Twitter: https://twitter.com/veloprotocol/

Facebook: https://www.facebook.com/velolabsofficial/

Discord: https://discord.io/velolabs