Despite the bear market in 2022, VelodromeFi continued to build and ship features to users in the expanding Optimism ecosystem. In 2023, many eyes will be watching the Velodrome V2.0 deployment closely and the future developments to come 👀
is also used to ensure that VELO lockers were not significantly diluted, where veVELO is distributed to VELO lockers, proportionate to their locked amount.Once the user locks their VELO, they are able to use their voting power to direct liquidity emissions to specific
. Liquidity emissions from Velodrome are distributed proportionally based on votes received by each pool. In return, these voters receive 100% of all fees and bribes received by the specific pools that they voted for.Bribes come from external parties such as protocols looking to incentivize specific pools. For example, an emerging project might want to incentivize a liquidity pool of their native token to create sufficient liquidity for their token.
Bribes flow to voters which incentivizes them to vote for the pools with the highest combined value of bribes and fees. Consequently, this directs VELO emissions to these pools which benefitsThrough such a mechanism, protocols paying out bribes can incentivize more than $1 of liquidity to be provided for every $1 in bribes spent.Velodrome sought to surpass Solidly by fixing the issues in Solidly’s design.
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