ParaSwap Renames to Velora, Expands to Intent-Based DEX Trading
ParaSwap, the aggregator of decentralized exchanges, has finally rebranded to Velora, marking a strategic evolution in how it executes trades on DeFi. The rebranding goes hand-in-hand with the roll-out of Delta v2.5, the new system that will offer more flexibility, improved MEV protection, and cross-chain support.
According to data from TokenTerminal, Velora had over 18,000 monthly active addresses and 4.3 million smart contract calls in the past year.
What Is Intent-Based Trading?
Brought to us by the platform in mid-2024, intent-based trading aims to reduce the harmful impact of MEV (maximum extractable value) bots. The bots exploit ordering of transactions in blockchains, using tactics like arbitrage and front-running to maximize profit—often at the expense of users.
The intent system carries out orders in three significant phases:
- Defining Expected Trade Price
- Auction for Efficient Execution Strategy
- Agent Execution with MEV Mitigation
- This flow enables secure, fair, and optimized user transactions.
Delta v2.5: Cross-Chain Trading and Additional Features
With the release of Delta v2.5, Velora is now offering a more tailored trading experience, allowing advanced tools like limit orders and mitigating single-block execution constraints.
The system is also said to be optimized for cross-chain capabilities, ensuring that decentralized trading becomes easier and more efficient.
Industry Insights on the Change
Sergej Kunz, co-founder of competing DEX aggregator 1inch, stated that users must be protected from the complexity of DeFi. He views intent-based systems as the key to mass adoption:
“An intent-based system is meant to transfer all risk and complexity from users into professionals’ hands.”
What’s Next for Velora?
The rebrand from ParaSwap to Velora marks a shift towards pro-grade DeFi infrastructure. By concentrating on MEV protection and reduced user friction, Velora intends to establish itself as the benchmark for next-gen decentralized trading solutions.
