Velodrome releases V2, currently allowing VELO and veVELO holders to migrate to V2

Velodrome, the AMM protocol on Optimism, announced the release of Velodrome V2, which currently allows VELO and veVELO holders to migrate their positions to V2 VELO and V2 veVELO. Migration of LPs will require unstaking and withdrawal of liquidity from V1, which will then be deposited into V2. Velodrome V2 features or features include new frontend, custom pool fees (up to 1%), custom pool names and symbols, Zap (allows users to create positions and add liquidity by depositing only one token in the pool), veNFT Artwork and Metadata, veNFT Locking, Opt-In Upgradability, Velo FED, and more. Among them, in the Velo FED, when the VELO release is below 6 million per Epoch (at about 92 Epochs), veVELO voters will automatically control Velodrome’s monetary policy, allowing them to increase or decrease the release rate by one basis point per Epoch. Additionally, the new VELO token and veNFT will replace Velodrome’s current governance and utility tokens. Velodrome said that from June 22nd to June 28th, the V1 release will continue as normal to allow time for users and protocols to migrate, and the V2 release will run from June 29th. Velodrome has completed two rounds of audits by Spearbit and will also launch a $200,000 Immunefi bug bounty on June 29.