Get Your Own web3 .defi Domains Today!

Daily Defi News from Across the Web

Daily Defi News from Across the Web

Kyber Network Partners with Velo Labs to Support Smart Contract Functionality for Velo Protocol | by Kyber Network | Nov, 2020


About Velo Labs

Founded in 2018, Velo Labs is backed by the CP Group and Stellar Network (XLM). Its core mission is to build a federated credit exchange network that allows partners to safely and securely transfer value between each other with maximized efficiency and transparency. Velo Labs currently serves business partners in the remittance and money transfer markets of Southeast Asia. Through its federated credit exchange network, Velo Labs aims to solve the inefficiencies in the current remittance and money transfer markets and become a major settlement hub in Asia, eventually expanding to other regions.

Velo Labs develops the Velo Protocol. The Velo Protocol is a blockchain financial protocol enabling digital credit issuance and borderless asset transfers for businesses using a smart contract system. It enables its trusted partners to issue digital credits via a smart contract layer, using the Stellar Consensus Protocol to process and settle transactions. The Velo Protocol can issue digital credits that correspond to any fiat currency.

Through its services, Velo Labs is looking to create a fully interoperable network that will enable its trusted partners (i.e. businesses, banks, digital banks, cash-in/cash out network, e-wallets, DeFi protocols) to make frictionless value transfers that are settled instantaneously in a cheap, secure, and simplified manner. Further use-cases for the Velo Protocol will also be introduced over time. This includes borrowing, lending, staking, and more. Velo Labs seeks to realize its goals by leveraging on its core capabilities, which include a strong leadership team with a solid track record in a wide range of industries, including but not limited to financial services, technology and telecommunications. Velo Labs is backed by a network of major conglomerates in Asia who are driving the use and adoption of the Velo Protocol and VELO token.

About Kyber Network

Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Using this protocol, developers can build innovative payment flows and applications, including instant token swap services, ERC20 payments, and financial DApps — helping to build a world where any token is usable anywhere.

Kyber is the most used and integrated decentralized finance (DeFi) protocol in the world, with over US$2 Billion worth of transactions facilitated since its inception. Kyber supports over 80 different tokens, and powers over 100 integrated projects including popular wallets Trust, Enjin, Argent, and the HTC Exodus smartphone, as well as DeFi platforms Fulcrum, DeFi Saver, InstaDApp, Set Protocol, Melon, DEXTF, Gelato, and many others.

Discord | Website | Blog | Twitter | Reddit | Facebook | Developer Portal | KyberPRO | Kyber Tracker | KyberWidget Generator | Github





Source link

Recommended For You

blank

About the Author: admin

Main Menu

Subscribe for Daily DeFi News