What Is Velodrome & How Does It Work?

At a high level, the velodrome is a decentralized exchange built on top of Solidly. However, it is more than just an exchange. Velodrome offers solutions for incentivizing liquidity pools using the vote escrow (ve) model. The ve model allows protocol patrons to lock their token in order to vote on which pools get what percentage of fees generated. This dashboard covers the basics of Velodrome locks.

Key Findings

• The number of locks created daily increased significantly in July 2022.
• 8 and 7 days are the most popular lock period for patrons.
• The wallet with the most locks has 10x more locks than the wallet in second place.
• The first, second, and third most voted for pools account for 31.7%, 21%, and 9.5% of the total vote cast. This represent more than 60% of votes cast.

Conclusion

Velodrome locks have seen an increase in activity in the last few months and votes from lockers are concentrated in a few pools.