Entering Warpspeed on Velvet Capital
Get prepared to enter Warpspeed on Velvet Capital as we become your hub for holding and earning compounding rewards on $CORE and $SPEED!
At Velvet Capital, we are continuously evolving to bring the best DeFi experience to our users. Today, we are excited to announce a powerful new integration with Lightspeed, an emerging cross-chain protocol revolutionizing bridging. This collaboration aims to enhance the experience across both their tokens ($CORE & $SPEED)
Get prepared to enter Warpspeed on Velvet Capital as we become your hub for holding and earning compounding rewards on $CORE and $SPEED!
Check out the Warpspeed Porfolio
Overview of Lightspeed
Lightspeed simplifies cross-chain transfers across major blockchains such as Base, BNB Chain, Polygon, Arbitrum, Optimism, and Ethereum Mainnet. Users can move assets with just gas fees, no extra bridge fees, ensuring cost-efficiency.
The thesis revolves around the following:
The landscape for bridging is fragmented and inefficient, causing:
Cross-Chain Fragmentation: The crypto community has become dispersed across various chains, diluting funds and focus. Light Speed aims to bring the community back together.
Inefficiency of Bridges: Traditional bridges often lead to security risks, privacy issues; early cross-chain tokens are difficult due to arbitrage and manipulation.
The Lightspeed Solution:
Warpcore (CORE) serves as the foundational engine, operating on a single chain to power the ecosystems deflation and produce rewards.
Lightspeed (SPEED) is the cross-chain token, facilitating seamless transactions across multiple blockchain networks, enhancing overall efficiency.
The Algorithm between Speed and Core ensures that both Core and Speed are able to maintain value during volatile movements.
Learn More: https://docs.lightspeed.foundation/
Why are two different tokens needed for a single ecosystem?
This system allows for specialized functionalities: one for transactions (Speed) and one for deflation, dip-resistance and rewards (Core). It creates a dynamic ecosystem where both tokens serve unique but interconnected roles, enhancing user engagement and network utility.
$SPEED: Acts as the utility token for seamless cross-chain transactions. Designed to be deflationary, reducing supply over time to potentially increase its value.
$CORE: A deflation and rewards token, automatically distributing $SPEED based on transaction volume. With a scarce supply, $Core aims to drive value through volume. Value Appreciation Mechanism:
Deflationary Mechanics: Both tokens employ token burning, which could lead to an increase in value as fewer tokens circulate over time.
Interconnected Growth: As $CORE holders earn $SPEED, this creates a self-sustaining cycle of demand for both tokens.
Ecosystem Utility: The more the ecosystem grows with dApps and users, the more utility and demand for both $CORE and $SPEED, theoretically increasing their value.
Entering Warpspeed
Warpspeed is the official portfolio for Lightspeed on Velvet Capital, that compounds $SPEED rewards automatically and rebalances!
This solves the Lightspeed issue of having two tokens and according to their founder has already lessened rebalancing volatility. The Warpspeed Portfolio holds 50% $SPEED and 50% $CORE and when proportions are off due to reward or token prices, the Lightspeed team rebalances to 50-50 split. This is your way to enter Warpspeed in a single click!
Rewards
To celebrate the Kickoff of Warpspeed on Velvet Capital, we will be giving rewards to depositors based on the following TVL Tiers that the Warpspeed Portfolio hits.
How it works:
Daily $pVLV for as long as you are in Warpspeed
$pVLV rewards given to holders at varying YVL milestones
$CORE Rewarded to depositors at $250k, $500k, and $1M TVL
The integration between Velvet Capital and Warpspeed will bring Velvet users unprecedented access to staking and rebalancing $CORE and $SPEED Positions. Plus when you include the $pVLV and $CORE rewards, its a no brainer to join the Warpspeed Portfolio.
Stay tuned for more updates as we continue to build the future of DeFi - by streamlining portfolio management and social trading on Base - and thank you for reading about the launch of Warpspeed.