Velo Litepaper introduces tokenizing RWAs and PayFi, bridging Web2 loyalty programs with Web3 for easier crypto payments and asset management.
Velo, a leader in blockchain technology, has unveiled its latest Litepaper, which introduces a new approach to integrating Real-World Assets (RWAs) and PayFi into the blockchain ecosystem. This update aims to make traditional assets more liquid and accessible. In addition, it will bridge the gap between Web2 loyalty programs and the decentralized Web3 space.
Velo’s ecosystem aims to convert tangible assets into tokens, such as treasury bills, gold, and receivables. Through this fractionalization, Velo enables users to own a share of high-value commodities like real estate, which are otherwise often illiquid and hard to invest in. This innovation allows layman investors to invest in a previously available market only to large investors.
The platform is based on the blockchain; people can exchange these tokenized assets at any time using decentralized exchanges. Since there are no intermediaries, executing the transaction is easier, cheaper, and faster. This system enables users to make trades and investments regardless of geographic location and time.
Velo Aims to Make Crypto Payments Easier
Besides tokenization, Velo presents PayFi, a solution that improves the traditional loyalty program model by integrating Web2 loyalty points with Web3. Normally, reward points are only valid and can be redeemed within the particular merchants with which a user has made a transaction. Velo’s PayFi provides an opportunity to use loyalty points in the Web2 and Web3 space, which makes them more versatile for people.
By doing so, loyalty points can be converted to other cryptocurrencies on the decentralized exchange or utilized within the Velo ecosystem for trading and staking. This makes users more flexible and provides more availability and liquidity to redeem their points for real products or use them in decentralized applications.
In its Litepaper, Velo also explains the future of Tokenization and PayFi and gives users a path to crypto Payments and Asset management. The objective is to facilitate the organization of digital assets and increase their applicability throughout one’s life. Velo’s small payments service plans to combine blockchain with existing payment solutions to simplify the use of cryptocurrencies.
Finally, it plans to use blockchain technology in real-world applications with the help of Velo. Furthermore, it gives users the capability to handle assets and payments better. It also strives to make decentralized finance (DeFi) more accessible to everyone, regardless of their familiarity with traditional finance systems.
