ParaSwap is becoming Velora, the complete crosschain DeFi trading protocol built on intent-based architecture.
ParaSwap was initially built to focus on offering the most efficient execution by aggregating DEXs and routing market swap transactions based on speed and cost.
Since inception, the protocol has:
Reached over $100 billion in transactions ($12 billion in the last 90 days)
Expanded to support Ethereum, Base, Arbitrum, Polygon, Avalanche, BSC, Optimism, Gnosis, and Polygon zkEVM
Integrated over 100 liquidity sources
ParaSwap was built in the early days of DeFi, when there were far fewer DEXs and much less complexity. With increasing institutional adoption and a maturing userbase, the scope and nature of the biggest challenges have changed considerably in the last few years.
From the early days of x*y=k pools, yield aggregators, and food farms- the space has evolved to a state where institutions are coming onchain in size, pushing the stablecoin market cap to $230B, with almost $8B locked in daily DEX volume alone. DeFi is now at $100B TVL, whereas between 2019 and 2020, TVL ranged between just $300M and $600M, values which memecoin market caps can regularly hit and lose in a matter of minutes.
As DeFi evolves, ParaSwap must evolve too.
From DEX Aggregators to Complete Trading Protocol
Although DEX aggregation remains as important as ever, today there is a huge unmet need for a DeFi trading platform that can offer the same UX, feature set, and performance as CEX venues, without compromising decentralization or composability.
Intents have long been seen as the promised land for on-chain finance, as they give the best swaps while retaining self-custody. Unlike traditional DEX aggregators, where users execute transactions at their own risk based on fixed algorithms, intent-based systems allow users to state their goals, and have the goal be executed as efficiently as possible on their behalf. This shift in execution opens the door for agents to determine the best way to fulfill them, adapting in real time, coordinating across chains and protocols, and optimizing for the best result.
To understand the difference, consider the analogy of Uber. Traditional routing is like hailing a cab and having the order fulfilled based on inferred parameters like cost or speed. An intent-based system is like scheduling a ride for tomorrow and having an agent ensure that you’re matched with the best route and cost based on real-time conditions. This agent could coordinate across networks, liquidity sources, and protocols making sure that your order is fulfilled in the smartest, fastest, and cheapest way possible.
Intents enable a more flexible and complete experience, bringing all the possible services, options, and execution strategies into a unified platform. Velora is no longer just a DEX aggregator. It’s a complete crosschain trading protocol built for the next era of onchain finance.
Velora: The Complete Crosschain Protocol
Velora leverages intents architecture to offer several key benefits to DeFi users:
Chain Abstraction as the Core
Velora sets itself apart by making chain abstraction a first-class feature. Its key differentiator lies in executing instant crosschain swaps within seconds, faster than competitors that often rely on slower execution processes.
Super Hooks
Velora introduces a novel approach to hooks, enabling users and developers to create a composable chain of actions by combining swaps and crosschain swaps into a single process. With Super Hooks, users can execute functions that are not possible with traditional aggregation, such as complex collateral swaps in lending protocols or automated liquidity pool management through agents.
