ParaSwap / Velora

ParaSwap launched in 2019 as a multi-chain DEX aggregator and now operates under the Velora brand. It aggregates token swap liquidity from numerous decentralized exchange protocols across EVM-compatible networks, routing trades via the most efficient path available at execution time. In addition to standard aggregation, Velora employs an intent-based trading model that separates trade intent from on-chain execution, allowing a network of solvers to compete for optimal fulfillment of each user order.

The Velora platform supports multiple EVM-compatible chains including Ethereum, Polygon, Arbitrum, BNB Chain, Base, and others. VLR serves as the protocol's native governance token following the migration from PSP. Following a 2026 DAO dissolution after a governance vote, operational control transferred to Laita Labs, while certain protocol components remain open-source on the VeloraDEX GitHub repository and the core trading infrastructure is maintained by the development team.

The primary trading experience on Velora starts with the swap interface, where users connect an EVM-compatible wallet, choose input and output tokens, and receive a quoted output drawn from aggregated liquidity across connected DEX sources. The routing engine assesses available paths—including multi-hop routes through intermediate tokens and RFQ quotes from market makers—and presents the execution option that maximizes output for the specified trade. This quote evaluation occurs automatically before any transaction confirmation.

Velora's intent-based execution layer provides an alternative to standard on-chain AMM swaps. Instead of submitting a direct transaction, users sign a trade intent with their connected wallet, which is then sent to a competitive network of solver participants. These solvers compete to fill the intent at or better than the quoted rate, with the best outcome submitted on-chain. This approach separates trade expression from execution and structurally reduces MEV exposure relative to standard mempool-visible transactions.

Velora's aggregation layer evaluates liquidity across multiple DEX protocols on each supported EVM network and consolidates offers into a single quoted output. The routing engine incorporates both standard AMM pool rates and Request for Quote (RFQ) orders from professional market makers, delivering institutional-grade pricing when market maker quotes outperform public DEX rates. Multi-hop routes through intermediate ERC-20 tokens are evaluated alongside direct pair routes when they yield better net output.

The intent-based execution model in Velora lets users express a trade as a signed intent—a structured declaration of the desired swap—rather than submitting a raw on-chain transaction. The intent is broadcast to a solver network whose participants compete to fill the order at the specified terms. This competitive structure is designed to minimize slippage and reduce exposure to MEV attack vectors that affect standard AMM swap transactions submitted through the public mempool.

RFQ liquidity from professional market makers is integrated directly into the Velora quote engine alongside standard AMM pool data. When a market maker provides a competitive quote through the RFQ channel, it is included in the routing evaluation alongside on-chain options. This dual-source approach—combining public DEX liquidity with private market maker quotes—can deliver improved execution for trade sizes where public AMM pools would incur significant price impact.

Cross-chain swap functionality in Velora enables users to transfer and swap tokens across different EVM-compatible networks within a single interface session. Cross-chain orders are routed through bridge infrastructure connecting the source and destination chains, with the Velora interface abstracting the underlying bridge selection. Developers can access cross-chain routing capabilities through the Velora API documented at developers.velora.xyz, allowing integration of cross-chain swap execution into third-party wallets and protocol applications.

Velora supports a range of practical trading scenarios across EVM networks: retail users swap ERC-20 tokens at aggregated rates without manually sourcing liquidity from individual DEX protocols; traders sensitive to MEV exposure use intent-based execution to avoid frontrunning and sandwich attacks that affect standard AMM transactions submitted through the public mempool; users moving capital between chains use the cross-chain interface to transfer assets without navigating separate bridge applications; participants executing larger trades benefit from RFQ liquidity that provides better rates than public AMM pools for significant trade sizes; and developers building wallets, aggregators, or trading tools integrate the Velora API to embed aggregated multi-chain swap execution into their own applications.

Developer integration with Velora is supported through the Velora API and SDK, documented at developers.velora.xyz. The API exposes endpoints for swap routing, intent construction and submission, RFQ access, and cross-chain swap capabilities. Developers can construct trade intents using EIP-712 structured data signing and submit them through the Velora protocol without building independent liquidity aggregation infrastructure. Open-source Velora contract components are publicly available for review on the VeloraDEX GitHub repository, and the security documentation at developers.velora.xyz provides additional context for integration risk assessment.

Velora maintains security documentation at developers.velora.xyz, including information related to protocol smart contract audits and security review processes. The intent-based execution model contributes to MEV protection by separating order submission from on-chain settlement, limiting the attack surface available to frontrunners compared to mempool-visible standard AMM transactions. Open-source contract components are available for independent review on the VeloraDEX GitHub repository. Users and developers integrating Velora should consult the available security documentation and apply standard third-party protocol due diligence appropriate to their specific use case and risk tolerance.

Velora, operating under the ParaSwap brand since 2019 and rebranded in 2025, is a multi-chain DEX aggregator with a meaningful set of execution features including intent-based trading, MEV protection by design, RFQ liquidity access, and cross-chain swap support. Following the 2026 DAO wind-down, operations are managed by Laita Labs with VLR serving as the governance token. Its developer API provides a structured integration path for applications requiring aggregated EVM swap infrastructure, and available open-source components support independent contract review. Teams evaluating Velora should assess the developer documentation, security audit records, and open-source contract availability against their technical requirements and risk assessment criteria.