Velodrome Becomes Latest DeFi Giant to Join Mode Ecosystem

Tl;dr Velodrome Finance, the MetaDEX that serves as a liquidity hub for the Optimism ecosystem, is joining Mode, the Modular DeFi L2. Velodrome combines some of DeFi’s most powerful primitives in a unified marketplace and its launch on Mode will boost liquidity across the growing ecosystem. Velodrome has started working on the integration which will go live in the coming weeks.

L2 DeFi staple Velodrome joins the rapidly growing Mode ecosystem

Velodrome Finance, the leading next-gen AMM and liquidity hub within the Optimism ecosystem with over $140m in TVL, is set to launch on Mode. As a major player in DeFi, Velodrome's arrival will boost Mode's ecosystem which has seen over $210M bridged to the L2 in under 2 months since mainnet launch.

Mode has already partnered with leading teams such as Ethena, Renzo, Ether.Fi and Redacted to drive innovation at the forefront of DeFi. Following the launch of Mode's mainnet last month, which has already attracted over $200 million in Total Value Locked (TVL), a wave of new partners has joined Mode to support its vision of becoming the home for DeFi innovation on Layer 2.To kickstart the Velodrome flywheel, Mode has market acquired a $veVELO position which they will use to vote to direct emissions to Mode pairs. Mode will also offer substantial incentives to boost rewards for Velodrome users on Mode.

Introducing Velodrome

Velodrome is one of DeFi’s pioneering products. Best described as a next-generation AMM and “MetaDEX,” Velodrome takes inspiration from early projects like Uniswap, Curve, and Convex to offer a streamlined liquidity marketplace. Velodrome’s core feature involves rewarding its most active users to support sustainable protocol growth, something Mode is also committing to. Alongside its sister protocol, Aerodrome, they have a combined $470mil TVL across OP Mainnet and Base.

The protocol launched on Optimism in the depths of crypto winter and quickly established itself as the network’s top DEX. Today’s deployment is Velodrome’s first on a new L2, underscoring the project’s belief in our mission to push new boundaries on L2. The move will help Velodrome reach a community of 140,000 active onchain users. It will also establish a liquidity hub on Mode where mechanisms like vote escrow tokenomics and rebasing reward the protocol’s most active supporters.

Mode and Velodrome are aligned in a commitment to expanding the possibilities of DeFi innovation. This makes Velodrome a natural fit for the Mode ecosystem.

The Superchain ecosystem’s hub for DeFi experimentation

Mode is building a modular DeFi hub powered by Optimism. Built using the OP Stack, Mode was awarded a 2,000,000 OP grant ($7.5M) to establish a DeFi hub for Optimism’s Superchain.

To date Mode has seen over 25 DeFi projects launch with a focus on yield-bearing assets. The coming launch of Velodrome will enable DeFi applications to bootstrap liquidity easily helping them launch and scale on Mode.

With Optimism’s top native DEX  the Mode ecosystem is quickly becoming a thriving DeFi hub. Learn more about Velodrome here and keep an eye out for further updates on how Mode will push DeFi into the future dropping soon.

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