Velora (formerly ParaSwap) (founded 2019) is an intent-based trading protocol that aims to provide users with optimized trading solutions by leveraging a decentralized, agent-based architecture^[6][1][2].

History

Velora is developed by a privately held company, ParaSwap Network. The company is situated in Paris, Île-de-France, EU^[3][4]. Velora Founder and CEO Mounir Benchemled holds a Master of Science in Information Technology from Abdelmalek Essaâdi University^[5].

He started his career in 2007 as a Software engineer and has worked for many startups as a developer, product manager, or as a CTO. He developed an interest in the cryptocurrency space around 2013 and realized that Bitcoin was only the beginning of a great financial shift. He was inspired to start the project after facing market liquidity issues as a user when buying and selling digital assets on decentralized exchanges and soon realized that it is an obstacle in mass-scale adoption. He founded 'Paraswap Network' in order to solve liquidity problems and help cryptocurrency to become mainstream in the financial world. In 2025, the project rebranded from ParaSwap to Velora, shifting its focus from being a DEX aggregator to becoming a more advanced intent-based trading protocol^[6].

Rebranding to Velora

The transition from ParaSwap to Velora marked a significant evolution in the protocol's architecture and mission. The rebrand reflects a shift from a decentralized exchange (DEX) aggregator to a comprehensive, intent-based trading protocol. This change was aimed at addressing more complex challenges within DeFi, such as Maximal Extractable Value (MEV) risk, gas fee abstraction, and cross-chain interoperability. The new identity as Velora emphasizes its focus on high-performance trading and composable finance, utilizing a decentralized, agent-based architecture to offer advanced features and improved execution for both individual and institutional traders^{[6] [7]}.

Overview

Velora's mission is to increase DeFi participation by offering secure, intelligent, and optimized trading solutions. The protocol is designed for both individual and institutional traders to access fragmented liquidity pools more effectively. It operates as an advanced intent-based trading protocol, providing features like cross-chain swaps, limit orders, and Super Hooks through a decentralized, agent-based system^[6].

Initially, the protocol focused on the Ethereum blockchain. Over time, it has expanded its support to become a multi-chain platform. Velora is available on numerous blockchains, including Ethereum Mainnet, Binance Smart Chain, Avalanche, Polygon, Gnosis, Arbitrum, Optimism, Base, Sonic, and Unichain, enabling cross-chain trading capabilities^[6]. The protocol integrates with over 170 other protocols to aggregate liquidity, complementing open liquidity with exclusive pricing from market makers to provide users with competitive rates^[6].

Features

Velora offers a suite of features designed to enhance the trading experience in DeFi.

Delta: Intent-Based Trading

A core component of Velora is Delta, a system that revolutionizes token swaps by introducing an intent-based architecture. Instead of executing swaps directly, users submit their trading intentions. Delta then delegates the execution to a network of settlement agents who compete in an auction to fill the order. This process is designed to deliver the best possible execution while minimizing MEV risks and abstracting away gas costs for the user. The infrastructure, powered by Portikus, allows for a smoother swap experience and enables the addition of more complex trade functions over time^[6].

Key benefits of Delta include:

• MEV Risk Minimization: The competitive agent-based model helps protect trades from MEV attacks like front-running and sandwich attacks, often resulting in better price execution for the user^[6].
• Gas Abstraction: Users can submit trades without needing to pay for gas directly. The settlement agents handle the transaction costs as part of the execution process, simplifying the user experience^[6].
• Superb Price Execution: The competition among agents, who leverage the Portikus infrastructure, ensures that users receive competitive prices for their swaps^[6].

Core Protocol Features

Beyond Delta, Velora provides several key features for users and developers:

• Robust API: Velora offers a public library for straightforward integration into dApps and wallets. Corporate clients can access a dedicated API key for enhanced reliability and performance^[6].
• Cross-Chain Swaps: The protocol is available on multiple blockchains and provides users with cross-chain trading capabilities, allowing for asset swaps between different networks^[6].
• On-Chain RFQ: The Velora Request for Quotes (RFQ) system aggregates real-time quotes from KYC-validated and trusted market makers. This provides all users with access to professional-grade liquidity and pricing^[6].
• Yield Optimizer: The protocol includes a solution designed to optimize lending rates on various lending protocols, helping users maximize their returns^[6].
• Security and Audits: To ensure user security, Velora's smart contracts undergo regular audits from external and independent security firms^[6].

Ecosystem and Partners

Velora has established a broad ecosystem through integrations and partnerships with various DeFi projects and financial institutions.

Ecosystem Integrations

Velora's protocol is utilized by a range of DeFi applications, wallets, and tools. Some of the notable integrations include:

• Aave An open-source, non-custodial liquidity protocol for earning interest on deposits and borrowing assets^[6].
• Morpho: A decentralized infrastructure layer that allows participants to earn, borrow, and create custom lending products^[6].
• Pendle: A DeFi protocol for yield tokenization, enabling users to manage future yield^[6].
• Usual: A decentralized stablecoin protocol that issues USD0, a stablecoin backed by real-world assets^[6].
• Ledger: A hardware wallet provider offering secure storage for digital assets^[6].
• Ready (formerly Argent): A DeFi wallet for Ethereum Layer 2 that focuses on low fees and security^[6].

Institutional Partners

Velora is also designed for developers and financial institutions, offering an API that allows partners to provide optimized DeFi execution services to their clients. The protocol caters to various institutional needs:

• Asset Managers: Can integrate exchange services into their wealth management offerings.
• Lenders: Can add exchange functions to their platforms to increase user engagement.
• Banks: Can utilize customized offerings that meet specific KYC requirements.
• Brokers / Bots: Can integrate with Velora to optimize execution costs and minimize slippage.
• Market Makers: Can participate in exclusive Velora Pools to bid on order flow.
• Custodians: Can offer token swapping functions to their clients through easy integration.

These partnerships and integrations help expand Velora's reach and liquidity within the broader DeFi ecosystem^[6].

See Also

• InstaDApp
• Argent
• Zerion
• DeFi Saver