Velodrome

Velodrome is continuing its OP incentive programs into 2024, offering 250k $OP to individuals and protocols participating in the Tour de OP and referral rewards program. The referral rewards program offers $OP rewards to those who refer projects to Velodrome and Optimism. The Tour de $OP boosts protocol incentives based on $VELO locks, voting incentives, volume generation, and $VELO pairs. Join the Discord to learn more and contribute to the growth of the Optimistic ecosystem.

Meta Pool, a multi-chain liquid-staking ecosystem, is launching on Velodrome and will soon begin incentivizing $mpETH liquidity. VeVELO voters are encouraged to cast their votes.

Velodrome community will be leading the charge in the path to the Superchain.

Thales protocol achieved powerful results by utilizing voter incentives, Protocol Owned Liquidity (POL), and Protocol Owned Votepower (POV) strategies on Velodrome. They directed $16.9K in VELO to their pools with just $3.8K in THALES, acquiring $410 of TVL for every $1 in incentives - 2.75x more effective than Uniswap. Thales' voting power now earns more LP rewards per week than their incentives budget. Velodrome's acquisition of $veVELO as POV allows protocols to move away from incentivizing in their native tokens.

The Velodrome Relay is now back online, allowing users to engage in maximal voting and compounding. Users of the old Relays will need to withdraw their locks and deposit into the upgraded strategies.

Velodrome community advises users impacted by the recent DNS attack to open a ticket on their Discord channel. In the ticket, users should provide their wallet address and relevant transactions by 11/23. All losses will be collected and validated through KYC process.

Velodrome has confirmed that it is unaffected by a recent dApp security issue. Users are advised to exercise caution when interacting with any dApps.

The OpenZeppelin team has disclosed details about vulnerabilities in the Relay contracts to the Velodrome community. As a result, Relay has been deactivated and adjustments will be made to address the identified issues. It is important to note that no user funds or veNFTs are at risk, and the core platform is not impacted. Users can withdraw their Relay positions as desired, and an update will be provided when the new version of Relay is available.

The investigation into the incident is ongoing. A full breakdown of events can be found in the incident report. Further details on next steps will be shared soon.

The Velodrome domain has been restored and is currently locked at the top-level domain level. Service has been resumed and the decentralized frontend is accessible and uncompromised. Users are advised to clear their caches before interacting with the site.