Kyber Network Partners with Velo Labs to Support Smart Contract Functionality for Velo Protocol

This article was first published on Kyber Network - Medium

Kyber Network is glad to announce a strategic and technical partnership with Velo Labs, the team behind the Velo Protocol, a blockchain financial protocol enabling digital credit issuance and borderless asset transfer for businesses.

Velo Labs’ core mission is to build a federated credit exchange network that allows partners to safely and securely transfer value between each other with maximized efficiency and transparency. Through its federated credit exchange network, Velo Labs connects an array of traditional, centralized and decentralized finance partners to enable distributed value transfers powered by blockchain technology.

“We are excited for our collaboration with Kyber Network. The partnership further enhances Velo’s efforts towards building a federated credit exchange network where the VELO token acts as a bridge asset to help partners create and transfer value to one another in a safer and more efficient manner.” — Tridbodi Arunanondchai, Vice Chairman of Velo Labs

Building the Smart Contract Infrastructure for Velo’s Federated Credit Exchange Network

Kyber Network is working together with Velo Labs to build an important extension of the Stellar network to the Ethereum ecosystem called EvryNet. As a technical and development consultant, Kyber will also provide technical support and advice to the Velo Labs team.

Kyber is well-suited to work with Velo Labs as a technical consultant to develop the extension EvryNet, due to our team’s vast experience and deep expertise in building the most integrated DeFi protocol (Kyber Network) and other blockchain technologies related to decentralization (Smartpool), scalability (Elastico and Gormos), and security (Oyente). Moreover, Kyber has worked on various cross-chain initiatives including launching WBTC (Wrapped Bitcoin), Waterloo Bridge, and Peace Relay.

What does this mean for Kyber Network?

Kyber’s technical partnership with Velo will pave the way for future joint initiatives and potential deployment of the Velo protocol on Ethereum. Moreover, it supports Kyber’s own ongoing research into ...

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Kyber Network - Medium

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