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This documentation omits aspects of Solidly and focuses on describing improvements and differences on the original Solidly and the Velodrome v1 DEXes.

Solidly-like DEX

Velocimeter is initially forked from Velodrome v1 contracts. It is a ve3,3 DEX with infinite supply reward token for liquidity providers and veNFT - locked reward token that directs ratio of emissions to the pools. To understand better what does "Solidly-like" mean, please refer to the Solidly by Andre Cronje Blog Post. Ceazor also has a playlist that dives into many features of Solidly and Velocimeter Technology. Here is a great primer on the ve33 system

Velocimeter v1

Velocimeter ships a lot of upgrades fast and here are the very first updates that were made to the original Velodrome v1 contracts:

  • Removed PairFee.sol contract as well as InternalBribe.sol contract.
  • Both swap fees and veNFT incentives directed to ExternalBribe.sol contract making fees claimable right after epoch flip instead of streaming future fees to voters.

Velocimeter v1 was deployed on Canto in January, 2023. It had nearly $20m TVL at its peak.

Velocimeter v2

Velocimeter v2 didnt introduced any major changes to the contracts. It was a minor upgrade to the Velocimeter v1. There was a manual migration of the liquidity pools from v1 to v2. Velocimeter v2 was deployed in February, 2023.

Velocimeter v3

Velocimeter v3 introduced many changes and updates. Thus it requires a separate section to describe them. Proceed to the Velocimeter v3 section to learn more about the changes. Velocimeter v3 was deployed in July, 2023.

Velocimeter v4

Coming soon.