ParaSwap, a decentralized exchange (DEX) aggregator that has facilitated over $100 billion in trading volume since its launch in 2019, is making its boldest move yet. The platform announced Wednesday it is rebranding to Velora, pivoting to an intents-based DEX model aimed at redefining how traders interact with decentralized finance.
The relaunch comes with the rollout of Delta v2.5, a major upgrade to Velora’s aggregation infrastructure, introducing a modular architecture where agents—referred to as solvers and market makers—compete for trade execution. This overhaul promises faster, more efficient, and more customizable trading by abstracting away rigid on-chain execution and replacing it with a flexible “intents” model that allows traders to specify their desired outcomes rather than prescribe the exact path to achieve them.
“We are revolutionizing the landscape of decentralized trading with Instant Cross-Chain Swaps and Super Hooks,” said Mounir Benchemled, founder of Velora, in a statement shared with AlexaBlockchain. “Velora is the future of DeFi—faster, more flexible, and powerful than ever before.”
A Shift from Aggregation to Coordination
Historically, DEX aggregators like ParaSwap, 1inch, and Matcha focused on stitching together liquidity across decentralized exchanges to secure the best possible trade execution. But these systems were constrained by single-block settlement and rigid smart contracts, often exposing users to slippage, front-running, and inefficient pricing due to maximal extractable value (MEV).
Velora’s answer is to move beyond aggregation into what some in the DeFi space are calling the “coordination era.” In this paradigm, users express trade intents (e.g., “Swap 1 ETH for the best amount of USDC, considering speed and fees”) and a marketplace of solvers competes to fulfill that request. This model, pioneered conceptually by platforms like CoW Protocol, has grown in prominence as developers aim to abstract away blockchain complexity for end users.
With Delta v2.5, Velora claims it can now offer instant cross-chain swaps, eliminating the need for traditional bridging or waiting for block confirmations. Instead of depending on fixed paths for execution, the new platform uses agents to dynamically source liquidity across multiple chains.
Standing Out in a Crowded Field
Velora is entering an increasingly competitive space. Rival DEX platforms and aggregators like UniswapX, Odos, and CoW Swap have been moving toward similar intents-based models. Uniswap, for instance, launched UniswapX in 2023, enabling off-chain order matching to improve execution and reduce MEV. CoW Swap, which pioneered the solver competition model, has already demonstrated the feasibility of batch auctions for MEV resistance.
But Velora is betting its “Super Hooks” system will set it apart. These hooks allow users to automate complex strategies by chaining multiple actions together—such as swapping assets and immediately deploying them into lending protocols like Aave or managing LP positions—all in a single transaction flow.
This kind of composability is key to what Velora sees as DeFi’s next leap: chain abstraction. While most platforms treat blockchain networks as siloed environments, Velora treats them as interchangeable infrastructure, abstracting away the differences and enabling users to interact with DeFi as if it were a unified backend.
Market Timing and the Broader Context
Velora’s launch comes as intents-based architecture is gaining momentum across crypto. Vitalik Buterin, co-founder of Ethereum, has spoken positively about intent-based frameworks, describing them as a way to simplify UX while increasing economic efficiency. Several research efforts, such as those from Anoma and Espresso Systems, have proposed integrating intents more deeply into protocol design.
Yet, for all the enthusiasm, most current implementations remain experimental or limited in scope. Velora is attempting to industrialize this concept, packaging it into a high-performance DEX that can compete not just on UX, but on execution quality.
This also reflects a broader trend in DeFi infrastructure: the modularization of execution, where specialized agents (MEV searchers, solvers, market makers) handle different parts of trade execution. This separation of concerns not only improves efficiency but could mitigate risks and improve competition.
Despite a generally muted crypto market over the past year, infrastructure projects like Velora have drawn investor attention. While Velora hasn’t disclosed any new funding with the rebrand, ParaSwap previously raised funds from notable backers including Blockchain Capital and CoinFund. Its pivot may be seen as a bet that infrastructure innovation—not just token speculation—will drive the next cycle of DeFi adoption.
Can Velora Deliver?
For Velora to succeed, it will need to win both users and liquidity providers in a market saturated with alternatives. It must also prove that its “Super Hooks” and cross-chain execution are not just more flexible, but also reliable and secure.
Security is particularly critical in a landscape rife with bridge exploits and smart contract vulnerabilities. Velora’s intent system minimizes some risks by abstracting bridging, but critics may point to the increased complexity of solver networks as a new potential attack surface.
Nevertheless, Velora’s vision aligns with a larger effort to make DeFi more accessible, powerful, and user-friendly.
For now, Benchemled and his team are betting that the DeFi world is ready to move from rigid contracts to flexible coordination—and that Velora is the platform to lead the way.
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Image Credits: : ParaSwap