# Welcome to Velora
Whether you’re a DeFi builder, a seasoned trader, or freshly starting your trading journey, this is your central knowledge resource for everything about Velora.
**Here you’ll find:**
* **Step-by-Step Guides:** Learn how to connect your wallet, swap tokens, place limit orders, stake your VLR, and more
* **Feature Deep Dives:** Uncover the powerful engines under the hood: our protocols, agents, superhooks, and battle-tested smart contracts built into Velora.
* **Integrate Velora:** Learn how to equip your project with DeFi superpowers using our API, SDK, widget, and Delta integrations.
* **Troubleshooting & FAQs**: Find quick answers to common questions. If you can't find what you're looking for, you can always ask us directly.
We’ve designed this documentation to be as clear and intuitive as Velora itself. Ready to explore?
**Navigate the categories below to get started.**
# Aggregation Protocol
The Aggregation Protocol is a DeFi middleware that aggregates liquidity sources into one comprehensive interface and API.
For any given trade, Velora checks the rates on all supported liquidity sources and implements further optimizations to get the best rate possible. It abstracts most of the swaps' complexity to make them convenient and accessible for end-users.
Velora can be used directly through the [Velora website](https://www.velora.xyz/) or integrated into decentralized applications through the **Velora API**
### Efficient Decentralized Exchanges Aggregation
Velora scours hundreds of liquidity sources to secure the best exchange rates.
Thanks to a refined pathing analysis, all options are explored, including splitting orders into several liquidity sources or looking for alternative swapping routes.
* **Find the Best Rate**: Velora connects to several liquidity sources and compares the available rates for each pair, accounting for the size of the transaction and other variables.
* **Optimize Orders Execution:** Velora does whatever it takes to find the best rate - including splitting orders across several liquidity sources, which is particularly effective for large transactions.
* **MultiPath**: Velora's secret sauce enables indirect trading routes with 2 or more hops and seamlessly interacts with various decentralized services, such as lending platforms or market makers.\
It also helps users to interact with several services and smart contracts in one gas-efficient transaction. For example, if you'd like to swap ETH for DAI and then deposit the DAI into Aave for aDAI, Velora does this in one step.
* **Gas Optimizations**: Velora implements several solutions to reduce gas usage across the platform. Gas costs are taken into account when analyzing swapping paths.
* **Market Makers**: In addition to all major DEXs, Velora has its private network of Market Makers, which provide users with MEV-resistant and slippage-protected trades. \
Market Makers are enabled by [Velora Augustus RFQ protocol.](https://app.gitbook.com/o/-MJC1WdXfmc1ERWuBGjG/s/00m5fvd2v8lSi8DIgDVo/~/changes/35/intro-to-velora/velora-overview/augustus-rfq)
* **Streamlined Allow Transactions:** With Velora, one **`Allow` rules them all!** Once you've allowed a given token on Velora, you can exchange it on any DEX (through Velora) - no further allow required!
Please visit the following links to learn more about Velora Aggregation Protocol:
* [Getting started with Velora](https://help.paraswap.xyz/en/collections/3629889-getting-started)
* [Integrating Velora API](/integrating-velora/integrating-velora-overview)
* [Velora Protocol Revenue](broken://spaces/S0vps9Haqh5RhxjC9vSm/pages/ku4ik2zI4Ir5nYHeH4zR)
* [Smart Contracts](https://developers.paraswap.network/smart-contracts)
* [Security](https://developers.paraswap.network/audits)
# Velora Delta
Learn more about Delta, the Velora crosschain Intents-based trading protocol.
Velora Delta is a new set of smart contracts developed by Velora. It's built on top of the Portikus Intents network and is currently available on Ethereum, Base and Optimism networks.
With Delta, users can trade crosschain, gasless and with enhanced protection from[ MEV Extraction](https://ethereum.org/en/developers/docs/mev/), allowing for a smooth experience and the best prices possible. This is done by implementing an agent-based order execution, in which a selected agent executes the swap on behalf of the user - even across different chains.
## Key Features
Thanks to its Best Execution method, Delta can deliver the following advantages over the standard Aggregation Protocol:
* **Crosschain Execution**: Delta allows users to express intents across networks — for example, swapping USDC on Base for USDC on Optimism — without bridging or needing gas on the destination chain. Settlement agents handle all crosschain routing and execution transparently.
* **Price Competition:** through its innovative settlement method, Velora Delta’s price execution will become increasingly competitive as different agents compete to deliver the best possible prices to users.
* **Gas Abstraction:** Velora Delta’s agent-based best execution enables users to submit a trade without paying gas to the blockchain. Users only need to permit the token, which is done without paying gas, and the trade will be executed for them.
* **MEV Risk Minimization:** users can avoid many potential MEV attacks currently present when trading on-chain, delivering more significant price improvements.
* **Seamless Experience**: leveraging Velora’s user-friendly interface ensures that anyone can trade on Delta with ease, no matter their expertise level.
## How Velora Delta processes orders
Whenever a trade is submitted through Delta, its Smart Order Execution relays trades through three distinct steps:
1. **Order Relay:** After order submission, valid orders are forwarded by Velora to the Portikus network, an abstracted network dedicated to Agent coordination.
2. **Agent Selection:** Once in the Portikus network, an auction is published to determine the winning Agent that will execute the swap.
3. **Contract Execution:** Finally, the Agent calls the Velora Delta contract and executes the swap for the user.
# Augustus RFQ
Learn more about the Velora RFQ set of smart contract which powers Limit Orders and Market Makers quotes
### Velora **Limit Order Protocol**
Velora Limit Order Protocol is a set of smart contracts developed by Velora and available in Ethereum, Polygon, Binance Smart Chain, Avalanche, Arbitrum, and Optimism.
Velora's Multichain Limit Order Protocol aims to become a public good with which anyone can interact and build dApp use cases in a completely decentralized way.
#### Key Features
The protocol goes beyond ERC-20 token limit orders and enables, among others, ERC721 NFT limit orders, peer-to-peer, RFQ, and OTC trading.
* **Top gas efficiency:** Velora’s limit orders offer the most gas-efficient transactions in the market.
* **Greater flexibility for users:** the protocol allows token-to-token trade and token-to-NFT, multiple token-to-NFT trading, and NFT-to-NFT swap. Moreover, it allows users to buy & sell ERC721 in the token they choose, independently of the other party’s token choice.
Please visit the following links to learn more about Velora Limit Orders:
* [Getting started with Limit Orders](https://help.paraswap.io/en/articles/6554744-what-is-a-limit-order-and-how-does-it-work)
* [Integrating Velora Limit Order Protocol ](/integrating-velora/integrating-velora-overview/augustus-rfq-limit-orders-and-market-maker#paraswap-limit-order-protocol)
* [Limit Orders Docs](https://developers.paraswap.network/api/limit-orders)
### Velora **Market Makers**
The liquidity provided by market makers helps Velora provide competitive prices and progressively get more and more efficient.
On top of the **better pricing** it helps to provide, this has additional benefits as it enables Velora to provide **MEV-resistant and 0 slippage swaps**.
Please visit the following links to learn more about Velora Market Makers:
* [Becoming a Velora Market Maker ](/integrating-velora/integrating-velora-overview/augustus-rfq-limit-orders-and-market-maker#what-is-paraswap-limit-order-protocol)
* [Market Makers API Docs](https://developers.paraswap.network/augustusrfq-api-specification)
# Protocol Revenue
This page overviews Velora revenue streams, clarifies Partner's revenue structure, and helps users understand the business model better.
### Velora sources of revenue
There are currently two main types of revenue for Velora:
#### **Swap fees**
**When accessing through a Partner**, it's **up to the Partner** to decide if they want to charge a fee on the swaps facilitated through Augustus Swapper (Market Mode) or Velora Delta. If opting for Augustus, Velora DAO collects 15% of the accrued swap fee, while in Delta, fee splitting only happens for surplus-generating swaps.
{% hint style="info" %}
For more information on how Swap Fees are implemented, please refer to the [API Partners - Revenue Share Overview](/integrating-velora/integrating-velora-overview/fee-sharing#partners-fees-overview) Section.
{% endhint %}
#### Surplus
Another potential fee to consider is **Surplus**: the decentralized markets are always on the move; sometimes, competing transactions can push the price lower (or higher) after submitting the transaction**.** Velora implements several mechanisms to hedge for it, such as displaying the "Minimum Received" amount or securing prices for a set amount of time with market makers quoting through AugustusRFQ.
**Velora DAO collects the surplus to grow further and perpetuate the protocol**. By default, in Market Mode, Velora DAO collects 100% of the surplus generated, while in Delta Mode, the DAO collects 50%.
{% hint style="info" %}
Partners who opt out of charging a Partner Swap Fee can choose to keep 50% of the surplus or direct it to the user, paid in the destination token. For more information on how Partner Fees are implemented, please refer to the [API Partners - Revenue Share Overview](/integrating-velora/integrating-velora-overview/fee-sharing#partners-fees-overview) Section.
{% endhint %}
# Integrating Velora Overview
# Fee Sharing
Partners can easily integrate with Velora Protocol using the Velora API and control the fee structure of their integration, deciding whether to charge a swap fee or participate in surplus sharing.
## ♻ Fee Sharing Overview
| | Partner Fee = Yes | Partner Fee = No |
| :-----------------------: | :-----------------------------------------------------------------------------------------------------------------------------------------------------: | :-----------------------------------------------------------------------------------------------------------------------------------------------: |
| Surplus Sharing = **Yes** | Not possible, fallbacks to *Partner Fees = Yes and Surplus Sharing = No* |
Surplus: 50% to Partner or User 50% to Velora DAO
|
| Surplus Sharing = **No** |
Swap Fees: Market: 85% to Partner, 15% to Velora DAO
Delta: 100% to Partner
|
Surplus: Market: 100% to Velora DAO Delta: 50% to Velora DAO 50% to User
|
#### **Swap Fee**
Partners can charge a fee on the swaps they facilitate if they choose to. By default, Velora DAO collects 15% of this fee.
#### **Surplus**
As described above, Velora DAO keeps surplus by default. If the Partner decides not to charge a Swap fee, they can opt-in to keep 50% of the surplus to be used as best suited to the Partner's interest or to direct it to the user.
**Our fee structure allows Partners to charge no extra fee**. In that case, Velora DAO takes no added fees.
#### **Mixed case**
Using swapExactAmountOutPro and swapExactAmountInPro allows the partner to keep 100% of the revenue while the protocol pays itself from the surplus (50% when it occurs)
Revenue Sharing on Velora (when integrated into another dApp)
If you'd like to discuss how to harness Velora for your dAPP best, please **reach out through our** [**Contact Form**](https://www.velora.xyz/#home-contact).
#### What are the Velora DAO fees used for?
All fees collected by the Velora DAO are used to grow further and perpetuate the Velora Protocol. DAO members and proposals decide the specific initiatives, and it is up to governance and community participants to decide where to direct these fees.
## Fee Claimer
Partners can choose to have their Partner fees, including Swap Fees and Surplus, redirected to a Fee Claimer contract, from where they can be claimed at will or sent directly to their wallet of choice using the `isDirectFeeTransfer` parameter.
For those Partners who chose Fee Claimer, fees can be claimed through the Velora[ Fee Claimer UI](https://app.paraswap.xyz/#/fee_claimer), using the wallet passed on the API call as `partneraddress`. The complete list of Fee Claimer addresses can be found in the [Smart Contracts - Fee Claimer](https://developers.paraswap.network/smart-contracts#fee-claimer) section.
For more information about API parameters setup, please refer to the [Velora API Developers Documentation.](https://developers.paraswap.network/)
# Augustus RFQ: Limit Orders & Market Maker
Learn how to integrate to Limit Orders Protocol and how to become a Market Maker
### Velora **Limit Order Protocol**
Velora Limit Order Protocol can be accessed via Velora's web and mobile apps and through [Velora Limit Orders API](https://developers.paraswap.network/api/limit-orders).
Limit orders are created and stored off-chain, and signed according to EIP-712. They are recorded on-chain once filled.
### Velora **Market Makers**
To become a Market Maker for Velora, please refer to the dedicated [developer documentation section](https://developers.paraswap.network/api/limit-orders/rfq-api-specification) and contact us using the chat in our [Help Center](https://help.paraswap.xyz/en/).
# VLR Token
On this page you can find the key information about VLR the Velora Governance token and its staking model
# VLR Token Overview
Velora (VLR) is the governance token which governs Velora DAO. With VLR, you can participate in governance either through Delegation or direct voting, as well as
## VLR Token Information
VLR is deployed on different chains, including:
* Ethereum Mainnet: [0x4e107a0000db66f0e9fd2039288bf811dd1f9c74](https://etherscan.io/address/0x4e107a0000DB66f0E9Fd2039288Bf811dD1f9c74)
* Optimism: [0x4e107a0000db66f0e9fd2039288bf811dd1f9c74](https://optimistic.etherscan.io/address/0x4e107a0000db66f0e9fd2039288bf811dd1f9c74)
* Base: [0x4e107a0000db66f0e9fd2039288bf811dd1f9c74](https://basescan.org/token/0x4e107a0000db66f0e9fd2039288bf811dd1f9c74)
* BSC: [0x4e107a0000DB66f0E9Fd2039288Bf811dD1f9c74](https://bscscan.com/token/0x4e107a0000db66f0e9fd2039288bf811dd1f9c74)
## VLR Staking Token Contracts
The staked version of VLR ( seVLR) , is deployed on the following chains:
* Ethereum mainnet: [0x40000320d200c110100638040f10500C8f0010B9](https://etherscan.io/address/0x40000320d200c110100638040f10500C8f0010B9)
* Optimism: [0x40000320d200c110100638040f10500C8f0010B9](https://optimistic.etherscan.io/address/0x40000320d200c110100638040f10500C8f0010B9)
* Base: [0x40000320d200c110100638040f10500c8f0010b9](https://basescan.org/address/0x40000320d200c110100638040f10500c8f0010b9)
# Legacy token - PSP
On November 15th, 2021, the Velora Foundation released the PSP token to further increase the decentralisation and efficiency of the protocol. This was the token governing ParaSwap DAO until the rebranding and token Migration to VLR.
Following the VLR migration, PSP remains available on all deployed chains. However, since then, governance operations of the token have been transferred to VLR, following the token migration on September 14, 2025.
### PSP Token Information
The PSP token was deployed across different networks.
* Ethereum: [**0xcafe001067cdef266afb7eb5a286dcfd277f3de5**](https://etherscan.io/token/0xcafe001067cdef266afb7eb5a286dcfd277f3de5)
* Optimism: [**0xd3594E879B358F430E20F82bea61e83562d49D48**](https://optimistic.etherscan.io/token/0xd3594E879B358F430E20F82bea61e83562d49D48)
* Polygon: [**0x42d61d766b85431666b39b89c43011f24451bff6**](https://polygonscan.com/token/0x42d61d766b85431666b39b89c43011f24451bff6)
* BSC: [0xcafe001067cdef266afb7eb5a286dcfd277f3de5](https://bscscan.com/token/0xcAfE001067cDEF266AfB7Eb5A286dCFD277f3dE5)
* Fantom: [0xcafe001067cdef266afb7eb5a286dcfd277f3de5](https://ftmscan.com/token/0xcafe001067cdef266afb7eb5a286dcfd277f3de5)
### PSP Staking Information
PSP staking had two staking phases, commonly referred to as PSP 1.0 (with sPSP-style tokens) and PSP 2.0 (with sePSP1 and sePSP2).
#### PSP 1.0 (sPSP style tokens)
The PSP 1.0 staking system consisted of incentives across different ParaSwap pools, where users would receive rewards depending on the performance of each.
#### PSP 2.0 (sePSP style tokens)
The following contracts were related to PSP 2.0 staking:
Ethereum Staking
* sePSP1: [0x716fBC68E0c761684D9280484243FF094CC5FfAB](https://etherscan.io/address/0x716fBC68E0c761684D9280484243FF094CC5FfAB)
* sePSP2: [0x593F39A4Ba26A9c8ed2128ac95D109E8e403C485](https://etherscan.io/address/0x593F39A4Ba26A9c8ed2128ac95D109E8e403C485)
Optimism Staking
* sePSP1: [0x8C934b7dBc782568d14ceaBbEAeDF37cB6348615](https://optimistic.etherscan.io/token/0x8C934b7dBc782568d14ceaBbEAeDF37cB6348615)
* sePSP2: [0x26Ee65874f5DbEfa629EB103E7BbB2DEAF4fB2c8](https://optimistic.etherscan.io/token/0x26Ee65874f5DbEfa629EB103E7BbB2DEAF4fB2c8?#code)
## PSP Supply Overview
#### Supply Overview
The total supply will be 2 billion PSP tokens, **with 7.5% (150M PSP) given to existing active users to bootstrap the community.**
#### **Initial Distribution**
A total of 150M PSP (7.5%) was allocated to an airdrop rewarding engaged users of Velora (formerly ParaSwap at the time of the airdrop). They are claimable by any eligible wallet, with **no time limit.**
* [The full list of eligible wallets is available here.](https://raw.githubusercontent.com/paraswap/paraswap-rewards-snapshot/master/data/airdrop-users.json)
#### Investor and Team Vesting
Investors’ tokens are subject to vesting with a **minimum period of two years** (with 4 months lockup) and **up to three and a half years for team members** (+6 months cliff).
{% hint style="danger" %}
This content exists for informational purposes only. It does not constitute investment advice.
{% endhint %}
# PSP 2.0
Holders of PSP tokens can get further involved with Velora to help improve the efficiency and decentralization of the service while participating in the Social Escrow system.
Users can choose to stake either PSP (sePSP) or a 2x boosted PSP/ETH hybrid pool (sePSP2) to participate in the system.
Staking PSP in either sePSP method allows you to earn incentives for the services you provide to Velora in the form of a portion of the accrued protocol fees. The more value you add to Velora, the more you can earn, by performing actions such as trading, market making, and referring others to the protocol, you can receive a boost on your stake.
{% content-ref url="/pages/WCOBT6OFqt9a5Za9L78V" %}
[PSP staking mechanisms](/velora-governance/vlr-token/psp-2.0/psp-staking-mechanisms)
{% endcontent-ref %}
{% content-ref url="/pages/3pi2Q3J3QysKJ4egnr8a" %}
[Incentives distribution](/velora-governance/vlr-token/psp-2.0/incentives-distribution)
{% endcontent-ref %}
{% content-ref url="/pages/AVymUCfOfb105Y4G4Awp" %}
[Social Escrow System and ParaBoost](/velora-governance/vlr-token/psp-2.0/social-escrow-system-and-paraboost)
{% endcontent-ref %}
{% content-ref url="/pages/fmVioVeoStvKrX80Z1g7" %}
[Staking PSP](/velora-governance/vlr-token/psp-2.0/staking-psp)
{% endcontent-ref %}
{% content-ref url="/pages/zEfSiIz3fEz1P2GJEUhx" %}
[Unstaking PSP](/velora-governance/vlr-token/psp-2.0/unstaking-psp)
{% endcontent-ref %}
{% hint style="info" %}
For more information, visit Velora's [**Help Center**](https://help.paraswap.io/en/)
{% endhint %}
# PSP staking mechanisms
Introducing sePSP1 and sePSP2: PSP-only staking and liquidity-pool-based options
When staking on the Social Escrow system of PSP, you are given two choices: sePSP1 and sePSP2.
Both options seek to maximize the utility of the PSP provided while offering a streamlined staking experience compared to the previous method of staking.
{% hint style="info" %}
The contract addresses can be found on the [`Staking PSP`](https://doc.paraswap.network/psp-token/psp-2.0/staking-psp)section
{% endhint %}
# Incentives distribution
Earn incentives for the services provided to Velora in the form of a portion of the accrued protocol fees
Velora distributes 80% of the protocol fees to stakers who add value and perform services to Velora and 20% to the DAO treasury.
These are the fees from all the chains Velora is deployed on and will be distributed every epoch in the gas token of each network where staking is available, proportionally to the stake on each network.
At the end of each epoch, fees will become claimable by users after a grace period of one week. This period ensures the incentive distribution is accurate.
After becoming available, incentives must be claimed within the following six epochs; otherwise, unclaimed incentives will go back to the DAO treasury.
# Social Escrow System and ParaBoost
Incentivizing stakers who add value and perform services to Velora through ParaBoost
Social Escrow PSP (sePSP) is a novel system designed to allocate the accumulated protocol fees to the users who add value and perform services to Velora.
The ParaBoost represents the incentive boost users receive on their stake from performing value-adding actions and providing services for the Protocol.
### Calculating your ParaBoost
The formula used for the ParaBoost Score is at follows:
In summary, the formula can be seen as two steps:
1. **Stake Score calculation**: First, the PSP staked in sePSP2 is multiplied by 2.5x, and this is added to the PSP staked in sePSP1. For example, if you have 1000 PSP staked in sePSP2 and 1000 PSP in sePSP1, you final stake score would be (1000 + 2.5 x 1000 ) = 3500 Stake Score
2. **ParaBoosts calculation**: Once the stake score is calculated, every achieved ParaBoost is applied. For example, if you received a 10% ParaBoost, your stake will be multiplied by 1.1.
Once the final ParaBoost is calculated, the ParaBoost Share relative to other stakers is compared, and rewards are split according to each person's share.
### ParaBoost categories
As of the time of writing, the value-adding actions considered for sePSP are:
* **Pooling**: liquidity provision through sePSP2 for the amount of time an asset is kept without requesting a withdrawal\
# Staking PSP
Get further involved with Velora to help improve efficiency and decentralization
{% hint style="info" %}
PSP staking contracts currently exist **only** on Ethereum and Optimism mainnet.
{% endhint %}
Users can choose to stake either PSP (sePSP) or a 2x boosted PSP/ETH hybrid pool (sePSP2) to participate in the system through the [Earn tab](https://app.paraswap.xyz/#/earn).
Staking PSP in either sePSP method allows you to earn incentives for the services you provide to Velora in the form of a portion of the accrued protocol fees. The more value you add to Velora, the more you can earn, by performing actions such as poolingl, you can receive a boost on your stake.
### **Staking PSP on Hybrid Pool (sePSP2):**
1. Select PSP tokens available
2. Add WETH or ETH
3. Unlock PSP and WETH or ETH in your wallet
4. Confirm stake
### **Staking PSP on Native Pool (sePSP):**
1. Select PSP tokens available
2. Unlock in your wallet
3. Confirm stake
### sePSP1 and sePSP2 to acknowledge deposits
Staking deposits are recognized with a deposit token: sePSP1 or sePSP2 depending on the option chosen by the user. Both are standard ERC-20 and can be transferred.
#### Ethereum Mainnet Contracts
* sePSP1: [0x716fBC68E0c761684D9280484243FF094CC5FfAB](https://etherscan.io/address/0x716fBC68E0c761684D9280484243FF094CC5FfAB)
* sePSP2: [0x593F39A4Ba26A9c8ed2128ac95D109E8e403C485](https://etherscan.io/address/0x593F39A4Ba26A9c8ed2128ac95D109E8e403C485)
* Upgrade Module: [0xf6ef5292B8157c2E604363f92D0f1D176e0dc1Be](https://etherscan.io/address/0xf6ef5292b8157c2e604363f92d0f1d176e0dc1be)
#### Optimism Mainnet Contracts
* sePSP1: [0x8C934b7dBc782568d14ceaBbEAeDF37cB6348615](https://optimistic.etherscan.io/address/0x8C934b7dBc782568d14ceaBbEAeDF37cB6348615)
* sePSP2: [0x26Ee65874f5DbEfa629EB103E7BbB2DEAF4fB2c8](https://optimistic.etherscan.io/address/0x26Ee65874f5DbEfa629EB103E7BbB2DEAF4fB2c8)
* Upgrade Module: [0x18e1A8431Ce39cBFe95958207dA2d68A7Ef8C583](https://optimistic.etherscan.io/address/0x18e1A8431Ce39cBFe95958207dA2d68A7Ef8C583)
\
\
# Unstaking PSP
To initiate the unstake sePSP1 or sePSP2 process, you must first place a withdrawal request.
{% hint style="info" %}
Please note:
* Withdraw PSP from staking incurs a cooldown period currently set at **one epoch**
* Once the withdrawal request is initiated, the un-staked PSP **will not be counted on the ParaBoostScore**
{% endhint %}
Withdrawal requests can be found on the [Earn page](https://app.velora.xyz/#/earn), under the ‘Unstake’ tab
Once the cooldown period is over, you should head to the ‘Withdraw’ tab and click Withdraw to receive your PSP back.
### Canceling withdrawal requests
Under the ‘Withdraw’ tab, you can also cancel withdrawal requests at any time during the withdrawal process and even after it finishes. When a withdrawal request is canceled, your PSP is automatically re-staked.
# Velora DAO
What is the governance process of Velora?
Velora Improvement Proposals lifecycle overview
## 🎮️ Brainstorming on Discord
The primary purpose of Discord is to facilitate informal brainstorming and explore exciting topics. It's an easy way to gauge enthusiasm and potential support for a proposal idea.
By heading to our Discord, you can informally discuss your ideas and find others willing to help refine and support your idea. It's also a great opportunity to review previous discussions that may be similar to your idea.
{% hint style="info" %}
Click [here](https://discord.gg/AzjWHEFEJF) to join Velora's Discord
{% endhint %}
## :microscope: Share your findings on the Research Section of the Forums
Before posting a complete proposal, opening a discussion in the Research section can help you present your opinions and request comments before the final proposal is live. This can also be useful for assessing the technical feasibility and resources needed for your future proposal.
While it's optional, posting a research thread ahead of the proposal helps refine your idea before it's put up for a vote and ensures the proposal follows the correct procedure.
{% hint style="info" %}
Check out Velora's [Research Forum](https://gov.paraswap.network/c/ps-research/6).
{% endhint %}
## 📜 Posting your Governance Proposal
This is the step when you formally introduce the proposal for discussion with the community before putting it to a vote. Unlike a research thread, a proposal requires the proper formatting with the following sections:
* Proposal Name and Number: How are you naming your proposal?
* Abstract: A summary of the aims of the proposal
* Goals & Review: What are the main goals of your proposal? Provide a summary of the context needed to understand these goals.
* Means: What is needed for the proposal to be accomplished?
* Implementation overview: What are the steps needed to implement the proposal if it goes through?
{% hint style="info" %}
Click [here](https://gov.paraswap.network/c/gov-proposals/5) to see Velora's Governance Proposals
{% endhint %}
## ⚡️Vote on Snapshot
Voting on Snapshot is the cornerstone of governance. All members who satisfy the PSP threshold can submit a proposal. It is highly recommended that you follow the above steps to ensure the proposal is as clear as possible.
{% hint style="info" %}
Check Velora's Snapshot [here](https://vote.paraswap.network/)
{% endhint %}
# Reserve and Treasury
This page details the means available to the Velora DAO and the main expanses it covers.
### PSP Ecosystem Reserve
The Velora DAO is granted a reserve of assets to fulfill its duties, referenced as the Ecosystem Reserve. It accounts for the largest share of the PSP supply.
#### PSP Ecosystem Reserve Overview
| YEAR | TOTAL PSP AVAILABLE | PSP RELEASE FREQUENCY |
| :----------: | :-----------------: | :---------------------------------: |
| Year 1 | 270M | 30M immeditately then 20M per month |
| Year 2 | 200M | 16.66M per month |
| Year 3 | 200M | 16.66M per month |
| Year 4 | 200M | 16.66M per month |
| After Year 4 | Up to 40M | 3.33M per month |
For the first four years of PSP existence, a set reserve of PSP has been set apart to cover the DAO's needs. After the first four years, a minting function becomes available allowing up to 2% of the total supply (40M PSP) to be minted per year.
{% hint style="info" %}
This function is a safeguard. It will likely not be used, considering the first budget has about 30% of the yearly allocated PSP unallocated.
{% endhint %}
#### Vesting Contracts
PSP tokens allocated to the Ecosystem Reserve are stored in vesting contracts. The reserve is split into 4 contracts unvesting on their given year:
1. [Year 1 vesting contract](https://etherscan.io/address/0x6a3CCa09b1C2B83834124c8646a68b9Bad2a07b9)
2. [Year 2 vesting contract](https://etherscan.io/address/0x348aa814a72970e76d5756a2cda16e7e8f245aab)
3. [Year 3 vesting contract](https://etherscan.io/address/0xb074094d2e858b25d129989644248f9f6946e081)
4. [Year 4 vesting contract](https://etherscan.io/address/0x51d2f2c65d043118eb4329fcbc738943f494609f)
#### Operations
The vesting contracts can be claimed by the [main multisig](https://etherscan.io/address/0x5a61d9214adefd7669428a03a4e8734a00e9f464).
Another [operational multisig](https://etherscan.io/address/0x6DF5e7b236a4F14e08C27E09202B4d1865905e9b), funded by the first one, is used to conduct recurring operations such as funding liquidity mining programs or DeFi-related PSP initiatives.
Main Multisig addresses:
* Ethereum:
* Arbitrum:\
Operational Multisig address:
### Velora DAO Expenses
The DAO is responsible for the PSP token and funds several related initiatives.
Velora Improvement Proposals can mobilize PSP if needed and available. A global budget proposal will help further frame expanses.
### Current Fees & Collection
Since Monday, January 23rd, 2023, all Velora V5-generated fees are claimable by the following DAO wallets:
* Ethereum: [0x619BBf92Fd6bA59893327676B2685A3762a49a33](https://etherscan.io/address/0x619BBf92Fd6bA59893327676B2685A3762a49a33)
* Arbitrum: [0x7dA82E75BE36Ab9625B1dd40A5aE5181b43473f3](https://arbiscan.io/address/0x7dA82E75BE36Ab9625B1dd40A5aE5181b43473f3)
* Avalanche: [0xAFFdeC0FE0B5BBfd725642D87D14c465d25F8dE8](https://snowtrace.io/address/0xAFFdeC0FE0B5BBfd725642D87D14c465d25F8dE8)
* BSC: [0x8c1a1D0b6286F35d47a676aB78482f1cf3D749dC](https://bscscan.com/address/0x8c1a1D0b6286F35d47a676aB78482f1cf3D749dC)
* Fantom: [0x5487683dc3216655D0C8AA31255e2e313b99B477](https://ftmscan.com/address/0x5487683dc3216655D0C8AA31255e2e313b99B477)
* Optimism: [0xf93A7F819F83DBfDbC307d4D4f0FE5a208C50318](https://optimistic.etherscan.io/address/0xf93A7F819F83DBfDbC307d4D4f0FE5a208C50318)
* Polygon: [0xABF832105D7D19E5DEC28D014d5a12579dfa1097](https://polygonscan.com/address/0xABF832105D7D19E5DEC28D014d5a12579dfa1097)
* Polygon zkEVM: [0x9060C482AB7d1b99504FC7D5f597fF61818B4F77](https://zkevm.polygonscan.com/address/0x9060c482ab7d1b99504fc7d5f597ff61818b4f77)
* Base: [0x65136b3E4f012e4c13Aff0926091E2eadCFEdB42](https://basescan.org/address/0x65136b3E4f012e4c13Aff0926091E2eadCFEdB42)
To verify the fee wallet, anyone can call getFeeWallet() on Augustus.
