Road to Velora - Campaign Update And Roadmap Validation

Research and Discussion
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Road to Velora - Campaign Update And Roadmap Validation

With the announcement of $VLR and the Road to Velora campaign reaching its end, we wanted to ensure that the DAO was fully aligned with the campaign steps and distribution prior to going forward.

In this update post, we invite the DAO to reflect with us regarding the campaign performance and distribution, and we outline what we believe to be the most viable next steps to ensure VLR launches with the maximum momentum possible.

Campaign Update And Distribution

As of the time of writing, the Road to Velora has helped accomplish its main goal of staker activation, giving them awareness of the latest rebranding and product innovations. The following are some key statistics we think are worth sharing:

sePSP2 staker trading volume

The average weekly volume from sePSP2 stakers doubled compared to the average Velora volume growth. While the average Velora trader volume grew by 17%, sePSP2 stakers experienced a weekly growth of 36%

Additionally, the share of volume generated by stakers also grew significantly by 16% , now accounting for a total of 0.84% of all the volume generated by the protocol.

Token Volume Growth

As part of the Road to Velora campaign, certain key tokens were highlighted which were close partners of the Velora ecosystem. Notably, PSP volume was given double the weight in trading volume compared to other token pairs.

Since the start of the Road to Velora campaign, the share of volume generated by the listed tokens increased by 500%. Most importantly, we saw a growth of PSP trading volume by sePSP2 stakers of over 725%

Overall, this indicates that the Road to Velora accomplished its core objective of staker activation. Now, we believe that we can drive the participation even further beyond existing stakers, to ensure we activate the full community and bring forward the next wave of engagement.

As explained in the Road to Velora post, once the campaign is over, rewards will be calculated for each participant based on their staking and accumulated league badges. The reward distribution data will be calculated based on factors that show campaign and staking participation, such as:

  • The amount of sePSP2 staked by the participant
  • The performance of the participant across different leagues
  • The consistency of participation across the different weeks

To maximise the potential of an exciting VLR Migration, we have decided to extend the VLR preparation campaign and opportunities for stakers to become aware of it. While our first campaign accomplished a strong degree of staker activation, the migration is a pivotal, one-time event, and we want to make sure all of our community gets involved.

Instead, we propose a revision of our current migration and incentive campaign strategy to further target protocol growth and reward existing users. Over the next sections of this post, we will explore what learnings we have had from the current campaign, and what we believe are the best revisions of the VLR strategy going forward.

Marketing Assessment and Iteration

One of the first steps needed to assess our growth strategy has to do with the distribution and growth strategy, and especially whether we were able to reach the audiences needed for the momentum established during Project MirĂł.

Since the passing of the initial DAO agreements, Laita Labs has been facilitating the marketing efforts of the protocol, which can be most easily tracked in our Updates Thread. In summary, Velora now has an increased presence in key areas of distribution, such as in Media Outlets, Podcasts and more.

While the aforementioned initiatives communicated the broader evolution of the protocol, we believe that the VLR launch communication strategy can be given a stronger audience focus. More specifically, we believe that the strategy can be more specifically targeted going forward towards onchain users - the core audience of Project Miro - to ensure the success of the initiative.

Going forward, we are expanding our current strategy to further reach users which are more likely to engage onchain with users. Some ways to accomplish this include:

  • Exploring infoFi products for awareness campaigns of the rebranding and token migration.
  • Expansion of future marketing campaigns to not just target sePSP2 stakers, but new users and first-time stakers.
  • Collaboration with the Growth Committee for content creation, explainers and more

The Future of VLR and Next Initiatives

When it comes to releasing a token migration, timing is extremely important, and this is something we are committed to getting right. Based on past migrations, good launches occurred during times of strong market momentum and community readiness, which helped carry the project forward afterwards. With this in mind, we believe that moving VLR’s migration to a moment where these conditions are present will help us ensure maximise the chances of a successful launch.

Over the next weeks, Laita Labs will continue to work in improving the positioning of both Velora as a protocol and VLR as the evolution of the PSP token. As outlined in the roadmap, we will continue our efforts to bring awareness to stakers with the 5% migration allocation for 3 months, while also utilising the Foundation allocation of Project Miro to focus on other Growth Initiatives.

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Firstly, congratulations on achieving a major milestone with the first version of the program.

I’d like to share some thoughts and experiences from participating in various incentive programs.

Strong Price Performance is the Best Marketing Strategy.

Since we already have a liquid token in the market, we should immediately redesign the tokenomics to reflect the protocol’s increased volume and usage in the token’s price. This way, when we announce something like the launch of an incentive program, market participants are more likely to react positively.

When announcements translate into real price action, it creates FOMO and excitement—not just within the community but also among new participants. As far as I know, @Avantgarde is already working on this. I would suggest aligning both efforts for a more amplified impact.

An Ideal Incentive Program

I believe an ideal incentive program should be designed to showcase our most powerful features and ensure users stick around after the incentives end. The goal should not just be to artificially boost activity on specific chains for a short period (e.g., 4 weeks), but to build sustainable engagement.

Parallel Incentive Programs from Competitors

To create an effective incentive program, we must also consider other concurrent campaigns. Users will naturally gravitate toward programs offering higher returns. For example, many people on CT are currently speculating on and farming Season 2 of Hyperliquid. They are spot-trading unit-supported assets like BTC, ETH, and others. Meanwhile, we also have an incentive program promoting trading. The question is: which one will users be more drawn to?

Lack of Narrative and Speculation

The entire market thrives on speculation and optimism about the future. We need a compelling narrative—perhaps something spearheaded by VGC. In the Hyperliquid community, there’s a strong buyback-and-burn narrative that keeps people engaged. We could take inspiration from that.

Subsidizing Fees/Quotes to Index Velora Prices on Aggregators

One innovative strategy to attract new users is to subsidize our prices, enabling aggregators to display our quotes as the most competitive rates. We can then distribute incentive tokens to users in the form of a cashback, which would be especially effective for small to medium-sized trades. This initiative could be implemented in collaboration with Laita Labs, potentially through partnerships with aggregators like LiFi.

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Thanks for this recap and and next steps post!

This is a great info and more reason to reach out to our partners to lock new campaigns where they:

  • Can contribute with some of the rewards
  • Amplify the campaings reach using their socials

I’m sure this will happen, but wanted to highlight that it is a very effective way to introduce new users that would otherwise make this trade/swap using a different protocol and/or is an incentive to those that are protocol agnostic.

Which aligns with the current roadmap. We need to be mindful that the space is a bit saturated (everyone is talking now), so we must be particularly appealing here and find the right timing to avoid overlapping with other campaigns that may compete with ours.

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Thank you frens, for this deep dive, really pleased seeing sePSP2 staker volume outpace the broader protocol, in itself really underscores the power of alignment between incentives and community momentum.

I’m fully behind extending and sharpening our migration rewards playbook, but as suggested with a carefull eye on market rhythms. My 2 cents re migration - let’s finish Q3 or even edge into late Q4 when sentiment supposedly turns, or has turned in the past considering BTC halving, so we maximise on every tactical move.

In the meantime, the VGC will rally behind you to lock in any creative work, fine-tune our messaging and stress-test reward mechanics, so that when VLR migration commences, we ride a sustained wave of volume, narrative and FOMO straight into launch.

Velora’s next chapter is ours still to script, there is no rush so let’s make it count.

How do you @Laita feel for pushing migration a little later ?

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Thanks to the Laita team for the detailed update and for outlining the roadmap ahead! It’s encouraging to see the team incorporating learnings from the first campaign and actively working to improve attribution, conversion, and wallet engagement. These updates to the DAO is well appreciated! Overall, we think the emphasis on native-to-Velora journeys and reward structures aligned with long-term retention is especially welcome, given the increasing competition in the wallet space. The integration with new protocols and introduction of XP-based systems should help reinforce some demand.

As others have noted, attribution remains a major challenge, particularly in ecosystems with multiple wallets and points of entry. While the planned improvements to WalletConnect integrations and one-click actions are promising, maybe considering mechanisms for retroactive attribution where possible could be useful and get people excited. Also, this helps ensure that users who onboard through Velora but interact via another front end still receive proper credit and rewards, aligning incentives more tightly across the ecosystem. A transparent attribution model will be crucial to gaining the trust of both users and partners.

Finally, we appreciate the roadmap’s focus on community education and onchain behavior shaping. The inclusion of gamified learning modules and time-based XP locks is smart and could help differentiate Velora’s user experience. It may also be worth exploring deeper social features or shared missions to encourage viral growth within trusted circles.

We look forward to seeing more data from Campaign 2 to guide further refinement!

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Thank you for this detailed update and the thoughtful reflections shared on the Road to Velora campaign performance.

Agree we should extend the VLR preparation campaign. Token migrations are pivotal, one time events. Capturing the full potential of this moment, not just with current stakers but also with a broader on chain native audience is essential.

Support this idea. I think InfoFi has strong potential to evolve beyond a passing crypto trend, especially if Velora aims to engage onchain-native users. Kaito or Cookie can help quantify user sentiment, reward meaningful participation, and bring transparency to campaign outcomes.

Integrating these types of metrics into awareness strategies or reward structures could position Velora as a frontrunner in InfoFi adoption.

My team at Pink Brains recently published this post about InfoFi. Feel free to check it out for deeper insights and potential Infofi projects that might align with Velora’s next phase. Looking forward to supporting the next phase of Velora’s evolution.

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Thanks for this update @Laita. Overall, we share others’ opinions regarding support for the campaign’s outcomes and roadmap. Also in favor of extending the migration timeline to align with more favorable market conditions; timing the migration toward late Q3 or Q4 sounds like a solid tentative plan to us. As part of the Velora Growth Committee, we’re ready to collaborate on sharpening the narrative/educational content to make sure we’re fully ready for the next phase of sustained engagement. We’ll have updates to share regarding marketing content soon!

re: cross-platform attribution, we also echo PGov’s call for exploring retroactive mechanisms so that users who start via Velora but trade through other interfaces still get credit. Overall, we’re really happy with the results thus far, we just need to make sure we do our best to catalyze virality and sustained engagement. We’re happy that this is being brought up and heavilty considered now.

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Thank you for the detailed update on the Road to Velora campaign and the exciting progress toward the VLR migration. It’s great to see the coordinated efforts across development, community, and partnerships, and we appreciate the continued openness in keeping the DAO aligned and involved.

As we begin thinking about the next phase of growth, we believe it’s important to take a thoughtful and balanced approach to designing new initiatives. Many successful campaigns in the space have shown the value of aligning incentives with long-term user engagement, while others have struggled with short-lived spikes in activity that are hard to sustain.

From a user perspective, it’s natural for people to respond to where they see the most benefit , which is why we believe it’s essential to design initiatives that go beyond short-term incentives and instead build lasting connections between users and the Velora ecosystem. Our goal should be to create long-term value for both the community and the protocol.

As we look ahead to the next phase of initiatives, we suggest that knowing certain key metrics would help guide more effective and sustainable decision-making. Understanding how users engaged with the campaign can provide valuable insights into what’s working well and where improvements can be made.

In particular, we believe the following data would be valuable:

  1. Trading volume from sePSP2 stakers
    A comparison with non-stakers to evaluate relative engagement during and after the campaign.

  2. New staker growth
    The number of new stakers joining each month, compared to historical periods before the campaign.

  3. User segmentation
    A high-level view of where new users are coming from, such as whether they are new to the ecosystem, returning users, or active onchain participants.

  4. Participation consistency
    How many users remained engaged across multiple months versus those who participated only once.

  5. User retention
    Insights into how many new users stayed active after their first month would help identify which campaign elements are driving sustained engagement.

  6. Marketing impact
    In light of the many community-facing efforts in May, including Twitter Spaces, educational threads, and tutorials, it would be helpful to know if these initiatives corresponded with measurable increases in staking activity or user growth.

We believe having access to this type of information before designing the next round of initiatives will help us understand user behavior more deeply. It will also support more targeted and effective efforts to retain active users and attract new ones to Velora.

Thank you again to the @Laita team for your ongoing work. We look forward to continuing to collaborate on the next steps of Velora’s journey.

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Thanks to all delegates for the feedback regarding the next steps regarding the campaigns. We have been discussing internally with the Laita Team how to best incorporate all of the feedback provided so far, and wanted to share an update on the next steps for VLR.

Firstly, we are aiming to focus future campaigns towards building longer-term excitement and new community members, be it through clearer communication of the protocol as well as longer-term opportunities. Since these campaigns will require longer-term presence, we also agree with the suggestion of moving the tentative release date of VLR towards late Q3/early Q4.

With this new direction, Laita Labs will continue to move forward with some of the open avenues that have been discussed here that require rapid coordination, such as by exploring InfoFi. In the meantime, we welcome the involvement of both DAO and committee members to explore some of the strategies brought forward such as content creation, tokenomics discussion and more. We look forward to updating you on what will come next, and are excited to collaborate on the next steps :handshake:

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A bit late on the ball here after ETHCC in Cannes, but want to say thank you to @Laita for sharing this with the community and opening the floor for feedback. It’s great to see the Road to Velora campaign did well and we very much appreciate the transparency and collaborative nature of this post!

We believe the additions to the strategy makes sense, and look forward to support these initiatives and share our own ideas as part of the Growth Committee.

One thing to mention, from conversations we’ve had over the last few months it’s clear that the Paraswap → Velora rebrand did not reach everybody. Have you given this specific issue any further thought, or do you assume this will sort itself out with time?