ParaSwap will terminate the PSP function and Velora will govern with VLR tokens
Source: CoinWorld
Time: 2025-09-16 19:57:17
Velora (formerly ParaSwap) has launched a new VLR token to replace PSP, integrating its model into a single asset to align incentives with actual use of the protocol. VLR tokens will end the PSP's functions in governance, staking and rewards, instead adopting a simplified architecture, exempting Gas fees, uniform staking on Base, and directly linking rewards to agreement revenue. PSP holders can migrate to VLR at a 1:1 ratio starting September 16, and additional rewards will be available for early migration by December 16. The launch of the VLR token marks the successful end of the Miró project, a DAO-led program to reshape Velora’s long-term sustainability.