🔍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.
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
Optimism Staking
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.
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).
This content exists for informational purposes only. It does not constitute investment advice.
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