Velodrome to Distribute 750,000 $OP Rewards to $veVELO Holders

Velodrome, the AMM protocol on Optimism, announced that it will distribute 750,000 $OP rewards to $veVELO holders in the coming weeks and months. 50,000 of these $OPs will be distributed to users who lock $VELO between June 1 and July 13, snapshotted at 0:00 UTC on July 14, and such users will share an additional 125,000 $OPs if they increase their lock volume by July 28. In addition, users who lock $VELO before July 28 will be allocated 75,000 $OP rewards, and the remaining 500,000 $OP will be allocated to users who lock $VELO in the next 5 months. Reward distribution is expected to start next week. According to TokenInsight data, $VELO price increased 26.19% in the past 24 hours and is now at $0.013488.