Velix Chooses Hercules as Key Liquidity Partner
As the crypto space continues to heat up, DeFi narratives such as liquid staking have become increasingly popular since the beginning of the 2024 bull cycle. In June alone, liquid staking protocols amassed over $20 billion in total value locked with some protocols eclipsing popular DEXes in TVL.
As this new DeFi narrative continues to shatter record numbers, Hercules is proud to announce its partnership with the liquid staking protocol, Velix!
What is Velix?
Velix is a groundbreaking liquid staking derivatives (LSD) platform on the Metis L2 network that seeks to revolutionize liquid staking by simplifying the staking process. To accomplish this, Velix has built an intuitive, easy-to-use platform to address the challenges and complexities associated with staking and Liquid staking protocols. On top of this, Velix seeks to boost both the flexibility and participation of DeFi on Metis by allowing users to stake their METIS tokens without losing access to their capital.
What makes Velix an attractive liquid staking derivative platform?
Velix implements a number of key features that make liquid staking on their platform enticing and exciting:
- Enhanced Yield through Auto-compounding: Velix maximizes returns via an auto-compounding mechanism that automatically reinvests staking rewards. This mechanic significantly boosts the annual percentage yield (APY) for users.
- Uninterrupted Liquidity: By issuing veMETIS, Velix ensures that users retain the liquidity of their staked assets, which can be traded or used in various DeFi applications.
- Seamless Integration: Designed for excellent interoperability within the Metis DeFi ecosystem, veMETIS acts as a bridge allowing users to engage with multiple DeFi services.¹
- Painless Unstaking: Velix allows users to unstake their assets without any minimum lockup periods.
- Audited Contracts: Velix has undergone thorough audits of its contracts from Peckshield, a leading blockchain security company.
What is Hercules?
Hercules is a capital-efficient and highly flexible DEX and liquidity platform that offers a wide range of advanced tools and features that can be custom-tailored to meet the unique specialized liquidity requirements of Metis builders while offering real yield opportunities for users.
Some of the innovative features used to help boost projects on the Hercules platform include:
- Unique AMM and concentrated liquidity implementation to support volatile & stable assets with fully customizable dynamic fees and maximizes efficient use of liquidity.
- Nitro Pools allow projects to incentivize additional liquidity for pairs in a completely permissionless and customizable way. Each Nitro pool can be custom-tailored towards a project’s needs, as they can set their own LP /reward parameters and target specific users/LPs they want to reward to boost liquidity and user participation further.
- spNFTs allow LP rewards to be reused for additional user/liquidity participation for increased yields.
- Dual Token Design for a sustainable protocol that enables real yield and incentivizes liquidity for users over the long term.
- xTORCH plugins are contracts that enable access to Dividend payouts, launchpad presales, and APR boosts for supercharged LP benefits.
- Multi-layer Reward Structures are baked into the protocol to keep LP engaged, multiplied, and locked in over the long term.
Through Hercules’ innovative liquidity structure, protocols across Metis will benefit from long-term deep liquidity that’s consistent and customizable to provide better trades, attractive yields, and greater market stability.
Hercules x Velix — Entering The Realm of Supercharged Liquidity
With this new and exciting partnership, Velix will receive supercharged liquidity for veMETIS and other Velix assets leading to seamless swaps, staking, real yield, and more. Overall, by utilizing the deep liquidity environment of Hercules, Velix will benefit from increased trading volumes, ample liquidity, protocol stability, and overall growth of the ecosystem.
Conclusion
As the DeFi renaissance begins to unfold throughout the Metis ecosystem, Hercules remains committed to providing the liquidity infrastructure DeFi protocols like Velix need to survive and flourish as they build lasting liquid staking solutions for users.
About Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
