Velo Labs October Update (10.1–10.15)

The first half of October has been an exciting time for Velo Labs. Over the past two weeks, the Velo team has made progress in all areas including partnerships, technological developments, as well as community engagement.

Ecosystem Updates

Velo Labs showcased a new partnership with leading stablecoin project Terra. Terra is building a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native governance and staking token, Luna. Bringing together Velo Labs’ federated credit exchange network and Terra’s new payment infrastructure, this strategic partnership promises to create significant synergies in building the future of blockchain-powered payment systems. For more details, please click here to see the full announcement.

Developer Updates

In the past two weeks, our technology team has made great progress on the development of the Velo Protocol as well as on technical integrations with our partners. Details on the progress are as follows:

Velo Protocol

1. Hermes Warp Protocol Release

• Support VELO-related crypto asset cross-chain transfer

▹ Ethereum cross chain support (ERC20), locking in solidity smart contracts

▹ EvryNet cross chain support, locking in solidity smart contracts

▹ Stellar cross chain support, locking in Matrixport custodian account

• Web3/Js API & SDK
• Code audit preparation

2. Velocity Mobile Wallet Release

• Mobile wallet development finished
• Android version velocity wallet point to TestNet is released for public test (can be viewed at: “velo.org/app/app.apk”)
• Code audit preparation

3. DCX development

• DCX planning (update priority and new development plan)
• Settlement smart contract integration test

Tech Partnership

• Working with Matrixport for Custodian Service integration

Community Updates

As the cryptosphere is filled with ever changing developments and surprises, the Velo Labs team is always ready to keep fans and followers up-to-date on the latest developments.

Media Mentioning

On October 5th, KuCoin announced the full restoration of trading service including deposits and withdrawals for VELO tokens. To keep the community updated, this important announcement was made on the official Velo Labs blog.

Now that KuCoin allows users to deposit and withdraw VELO tokens from the exchange, the Velo Labs team published a guide outlining how to store VELO tokens externally — “Guide: How to Store VELO”

Lastly, Velo Labs and the Velo Protocol received a lot of love from the larger crypto community. Velo Labs was mentioned in several blockchain media outlets including Decrypt and Cryptonews.

Community Events

The Velo Labs team held two Telegram AMA events, one in Mandy B’s Community and the other in Ian Alexander’s Secret Chatbox. In both, Gaurang Desai (Velo Labs Economics Advisor) answered questions about Velo Labs and the Velo Protocol.

In terms of other events, the Velo Labs team held two bounty quiz campaigns, one in the Chinese community and the other in the Korean community. If you participated and won the quiz, please remember to contact the admins to claim your rewards. :)

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