ParaSwap, a decentralized exchange aggregator, has rebranded to Velora, introducing Delta v2.5, a major upgrade designed to streamline trade execution.
According to a press release shared with crypto.news on April 3, ParaSwap (PSP) has rebranded to Velora. This rebrand is accompanied by the launch of Delta v2.5, which upgrades Velora’s existing aggregation infrastructure to an intents-based one with multiple agents competing for its price execution.
The features of Delta v2.5 include:
- Instant Cross-Chain Swaps, which let users swap assets between different blockchains quickly and without delays.
- Super Hooks, a new feature that allows users to automate and combine complex trading strategies.
- Advanced Limit Orders, which let users set trades to automatically happen under certain conditions, offering more flexibility than before.
By introducing these features in Delta v2.5, Velora aims to overcome the limitations of old DEXs, such as slow execution times and rigid processes.
Mounir Benchemled, Founder of Velora expressed his excitement on the launch, saying, “We are revolutionizing the landscape of decentralized trading with Instant Cross-Chain Swaps and Super Hooks, enabling seamless execution of complex strategies. Instant Cross-Chain Swaps eliminate delays and reduce costs, while Super Hooks provide the flexibility to automate and customize trading strategies with efficiency. Velora is the future of DeFi — faster, more flexible and powerful than ever before, empowering users to navigate the DeFi space with increased speed and control.”
The rebrand comes on the heels of the Augustus v6 vulnerability that ParaSwap faced earlier in March. The critical bug in the smart contract, discovered shortly after its launch, raised concerns about the security of the platform. The move to an intents-based model with Velora aims to address some of the limitations and risks that led to this exploit.
