Velodrome Finance is a next-gen AMM built on Optimism. Using Velodrome Finance, users can swap seamlessly between tokens and LP their tokens, benefiting from the low transactions costs of L2. Velodrome launched in June 2022. For more information on Velodrome, check out docs.velodrome.finance.
For Lido users, you can use Velodrome to easily switch between wstETH, WETH, LDO and USD. Adding to this, get fees from LP'ing a number of pools including:
wstETH-WETH
WETH-LDO
wstETH-USD+
Guide to Velodrome Swaps
Use Swaps on Velodrome Finance to benefit from low slippage, swap fees and high liquidity.
Before proceeding, you need to bridge your tokens to Optimism. To do so, check out the following guide: Bridging wstETH to Optimism.
Visit app.velodrome.finance/swap and connect your wallet. Make sure you are connected to Optimism using your wallet of choice.
Click the token icons to choose which tokens you want to swap between.
Choose the quantity of tokens you want to swap, as well as the maximum allowed slippage.
Press 'Swap' and confirm the transaction using your wallet of choice.
Guide to Velodrome Pools
Using Velodrome Pools, users can add liquidity to certain pairs to get weekly rewards in the form of trading fees.
There are two kinds of pools on Velodrome - Staple and Volatile. Staple pools are used for correlated tokens, e.g. wstETH-WETH, whereas Volatile pools are used for uncorrelated tokens like wstETH-USD.
To get started, visit app.velodrome.finance/liquidity.
Use the search bar to find the relevant pairs.
Choose a pool and click 'Manage Liquidity'.
Choose the amount of tokens to deposit and press 'Deposit & Stake'.
To manage and claim your rewards, go to Velodrome Rewards dashboard.