2023 Velo Product Roadmap Update
We’ve only just scratched the surface of what we have planned for 2023! A modern and dynamic feeling website and rebranding reflect the innovation ahead as we deploy our Web3+ ecosystem. This represents a culmination of our efforts since the merger and is the catalyst that launches us into the new year and beyond!
We’ve only just scratched the surface for what we have planned for 2023! A modern and dynamic feeling website and rebranding is a reflection of the innovation ahead as we deploy our Web3+ ecosystem. This represents a culmination of our efforts since the merger and is the catalyst that launches us into the new year and beyond!
Creating a new financial ecosystem, “Web 3+”
The concept of “financial inclusivity” is something many of us take for granted. Velo Labs envisions a world where capital can move freely between everyone, any time, anywhere, any size! Blockchain and decentralized finance will be key drivers in solutions at the center of innovations in the global financial system. Terms such as financial inclusion, financial literacy, and reduced intermediary costs will be commonplace for communities with limited access to financial services. Transaction speed will be near real-time meaning people will have more access to financial opportunities, different types of asset classes, and be empowered to make their own financial decisions with fewer barriers!
The power behind “Web3+”
Joining the already established products in Velo’s ecosystem of VeloFinance, FCX, and our on/off-ramp service, come: Quantum, Universe, Nova, Orbit, and Warp. They serve an integral part of the total ecosystem that delivers a trustless experience where you are able to move your funds seamlessly, in any form, and to any user on the network, anywhere. The combined solution of all eight products and services compromise what we term our “Web 3+” ecosystem.
First-Time Right mentality
Getting this right the first time is very important to us. With many issues of hacks and other bad-actor style behaviour in the fintech space, we want to ensure the products we are delivering can stand up to the rigors they will be subjected to.
As such, all of our products will undergo a soft-launch process. Depending on the target user for each product will determine who can access it during the soft-launch phase as part of our “Exclusive Access” program. We’ll be providing more details on how to participate in this program closer to each platforms’ launch. So keep an eye out on our social media channels!
Over the next couple of months, four exciting new products will join Velo Finance in the DeFi space: Universe, Nova, Orbit, and Warp. Commencing in March 2023, Universe, Nova, and Warp will be soft launched with key partners as part of a soak of our Mainnet service before we open it up to the “Exclusive Access“ wave for further testing. After this short stress-testing period, it will be opened for general use. Orbit will follow shortly after Universe is released.
For the remainder of 2023, we will look at deploying yet-to-be finalised feature enhancements for each platform based on feedback from our users.
And just a reminder, it is more important to get the launch right the first time, rather than rush it to market and face technical problems or issues.
Our New Web3+ Product Overview:
Quantum connects our Trusted Partners (businesses vetted and approved to join the network) to each other. This allows each partner to access the benefits and services across the entire Velo ecosystem and provides lower fees, faster transactions, and broader coverage to all users.
Universe is a super DEX that allows users to connect to a decentralized, self-custodian wallet to maintain control of their funds and reduce third-party risks. Meanwhile, it also supports a centralized trading engine and order-matching system to perform high-frequency trading of any asset at a low fee. Your keys, your crypto - easily move funds anytime you please.
Nova Chain is an EVM-compatible blockchain and the backbone of our Web3+ ecosystem that facilitates the on/off ramp partners to connect their services with web3+ applications. Nova is an enabler of Quantum’s interconnectivity with various financial systems and provides frictionless transactions for all users on the network.
Orbit is a simple-to-use mobile application that provides a simple “Scan-and-Go” model for P2P payments. Using a common QR code system, your wallet connects to your assets in the Velo ecosystem and allows you to quickly transfer funds for various purposes.
Warp is a multi-chain bridge that connects blockchain networks. Warp supports Binance Smart Chain and Stellar networks at launch, with Ethereum and several other major chains support coming soon! Users can easily move assets into and out of the ecosystem to suit their needs.
Solving real-world problems
Velo Labs core mandate has always been about building products to solve real world products for the financially underserved. We strive to empower the unbanked or underbanked with the same financial inclusivity many of us enjoy and take for granted.
Velo Labs’ mission is to help everyone to become financial free by removing borders and providing solutions that enable seamless transactions between all users on the network.
We’ve introduced a new collateralised stable coin as part of the Web3+ ecosystem. $USDV will be the primary trading pair with digital currencies available on FCX and Universe. We have significantly reworked the function of how digital fiat is minted in the ecosystem and this is covered comprehensively in the updated whitepaper available on our redesigned website!
$VELO utility and the future
With the expansion of the Velo product suite, we bring a lot of utility to the $VELO token! This reinforces our commitment to our investors and strategic partners and demonstrates our continued growth of the VELO token. $VELO is one of the most important mechanisms driving our products. In the updated ecosystem, $VELO has the following additional utility:
Communication and growth strategy
With all of these exciting new tools, we need to get the word out! We’ll be kicking off our marketing campaign to coincide with the launch of these exciting products. We’ll be engaging with institutional investors through quarterly publications, plus you’re going to be seeing and hearing a lot more from us on our social media platforms together with more AMAs, community activities, and also maintaining the level of engagement you’ve come to enjoy recently!
We’re excited for the year ahead and are glad to have you all as valued partners along our reinvigorised journey!
For more information, visit velo.org and join Velo Labs communities to support our Web 3+ movement.