ParaSwap rebrands to Velora and introduces intents-based trading

The decentralized exchange (DEX) aggregator ParaSwap has announced its rebranding to Velora and is moving on to a new intents-based trading feature.

Decentralized exchange (DEX) aggregator ParaSwap announced its rebrand to Velora and is moving on to a new intents-based trading feature.

According to an announcement shared with

CoinTelegraph

, Velora’s just introduced its Delta v.2.5 upgrade. This supposedly results in improved flexibility and agility in trade execution on the DEX.

Paraswap has seen 18,000 monthly active users over the last month with 4.3 million smart contract interactions over the past 365 days, according to TokenTerminal data. The platform first introduced intents-based trading back in the summer of 2024, with hopes that it would mitigate the negative impact of maximum extractable value (MEV) bots.

Since then, ParaSwap submitted orders in three steps. First the order is preprocessed defining the expected trade price, then this is submitted to an auction to determine the most efficient execution strategy considering liquidity and timing. The winning agent executes the trade while taking the user’s intent into account and purportedly minimizing MEV exploitation risks.

A crypto MEV bot is an automated program that exploits profit opportunities in blockchain transaction ordering—using tactics like front-running and arbitrage to capture extra value. The project’s founder Mounir Benchemled said at the time:

“We are excited to unveil Velora's intent-based trading technology, a groundbreaking innovation in the realm of decentralized finance,”

Velora’s intent-based trading implementation

Velora’s implementation of intent-based trading is more customizable, giving the user “full control over their execution preferences, unlocks advanced features like limit orders, overcoming the constraints of single-block execution and increasing flexibility.” The new aggregator is also reportedly designed to allow for seamless cross-chain trading and enhanced performance.

According to Kunj, "end users shouldn't have to worry about the complexities of decentralized finance." An intent-based system removes much of this complexity:

"We believe that the future of trading lies in aggregating liquidity across DEXes and offering a superior trading experience compared to centralized exchanges," Kunj concluded.