ParaSwap
7 known investors
Velora is an intent-based decentralized trading protocol that offers crosschain token swaps, gasless trades, limit orders, on-chain RFQ, and yield optimization, aggregating liquidity from 160+ protocols and market makers across multiple L1 and L2 chains. It provides an API and public library for wallets, dApps, and financial institutions such as asset managers, banks, brokers, and custodians to integrate DeFi execution services.
Also known as Laita Labs Β· ParaSwap Β· Velora
Investors Β· 7
Also in the syndicate Β· 3
Company profile
researched Aug 2026Velora, formerly ParaSwap, is a decentralized exchange aggregator and intent-based trading protocol. It pools liquidity from more than 160 protocols across Layer 1 and Layer 2 networks and complements that open liquidity with exclusive pricing from market makers, computing prices and splitting orders across venues to improve execution. Supported features include crosschain swaps, limit orders, "Super Hooks", an on-chain request-for-quote (RFQ) system that aggregates real-time quotes from KYC-validated market makers, and a yield optimizer for lending-protocol rates. The protocol states support for Ethereum Mainnet, BNB Smart Chain, Avalanche, Polygon, Gnosis, Arbitrum, Optimism, Base, Sonic and Unichain.
Its Delta product routes swap execution to a network of competing settlement agents running on the Portikus infrastructure, with the stated aims of minimizing MEV exposure and abstracting gas costs so users can trade without paying gas directly. The company also publishes a public integration library and offers dedicated API keys to corporate customers, positioning the protocol as middleware between wallets, dApps and traders and on-chain liquidity. Smart contracts are subject to external, independent audits.
The project began as an Ethereum-focused DEX aggregator built on top of liquidity networks such as Uniswap, Kyber and Bancor, and later broadened into a multi-chain API and execution layer. It issued the PSP governance token in November 2021 and, following the Velora rebrand, a VLR token; in April 2026 the DAO voted to wind down and hand protocol operations to development firm Laita Labs.
Founding story
Mounir Benchemled, a software engineer since 2007 who had worked as developer, product manager and CTO in startups and became interested in crypto in 2013, conceived the project after conversations at Web Summit 2018 in Lisbon led him to identify liquidity fragmentation as a core barrier to mainstream crypto use. He researched projects addressing the problem β Uniswap, Kyber, Bancor and 0x β and decided to build an aggregation layer on top of them. Work on ParaSwap started in mid-April 2019 and the MVP shipped on 17 June 2019, initially bootstrapped by the founder across engineering and UX before a team was assembled.
Business model
The protocol earns from trade execution; in its early stage the founder described taking small commissions on each transaction while also exploring a SaaS model with a fixed monthly fee for fee-less trading and options-trading features for advanced traders. Fees were waived at the MVP stage. It also markets dedicated API access to corporate and institutional customers, and operates market-maker pools in which market makers bid for order flow. Historically, protocol revenue was shared with token holders; that fee-sharing was eliminated in the April 2026 governance change, with revenue directed to Laita Labs.
Transaction-level commissions on swaps executed through the protocol, with additional monetization explored via subscription-style access for frequent traders and paid, dedicated API keys for corporate integrators. Market makers bid for order flow through the protocol's pools.
Traction
The website reports over 30 million trades, more than $160 billion in cumulative volume, 12 active blockchains, 170+ integrations and 160+ integrated liquidity protocols. Integrations span Morpho, Pendle, Usual, Ledger, Aave and Ready. Its PSP token launched with an airdrop to about 20,000 eligible addresses, and the protocol supported the launch of Kraken's kBTC wrapped bitcoin token in October 2024.
Latest developments
Following the rebrand from ParaSwap to Velora, the protocol markets Delta intent-based execution on Portikus infrastructure, crosschain swaps, Super Hooks and a lending-rate yield optimizer, and lists an iOS beta. In April 2026, governance proposal PIP-77 passed with 65.8% support, winding down the DAO and consolidating protocol management, infrastructure and revenue under Laita Labs, transferring roughly $415,000 of treasury funds, ending staking programs and removing fee-sharing with token holders.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
One of the established decentralized exchange aggregators, alongside peers such as 1inch and CoW Protocol, competing on execution quality against direct DEX trading on venues like Uniswap. The protocol reports more than 30 million trades, over $160 billion in cumulative volume, 12 active blockchains and 170+ integrations, and is used by DeFi projects including Morpho, Pendle, Usual, Ledger, Aave and Ready (formerly Argent).
Aggregation across 160+ liquidity protocols combined with exclusive market-maker pricing and an on-chain RFQ layer aimed at delivering better fill prices than trading directly on a single DEX; the founder cited early savings of 5-10% versus manual execution. The intent-based, agent-driven Delta architecture adds MEV protection and gasless trading, and the protocol is non-custodial, avoiding counterparty risk.
Technology
Smart contracts written in Solidity and Vyper with Truffle tooling, backed by Node.js, MongoDB and Redis services and a React/Redux frontend, largely in TypeScript, with Go and Rust also in the stack and work on Layer 2 solutions including StarkWare and zkSync. Order-splitting smart contracts route trades across multiple liquidity sources. The Delta product uses the Portikus infrastructure and a competitive network of settlement agents to execute signed user intents, providing MEV risk minimization and gas abstraction. Contracts undergo external independent audits.
Go-to-market
Distribution runs through a public integration library and API used by wallets, dApps and protocols, with dedicated API keys and customizable KYC-compatible offerings for institutional partners, alongside a direct-to-user trading interface and mobile applications. Community and token programs β including the PSP airdrop and the "Road to Velora" campaign β support user acquisition.
Retail and institutional crypto traders, plus developers and businesses integrating swap functionality: wallets and dApps, asset managers, lenders, banks with KYC requirements, brokers and trading bots, market makers and custodians.
Geography
Headquartered in Paris, Γle-de-France, France, with an international team working fully remotely and English as the working language. The protocol itself is deployed across multiple public blockchains rather than tied to a jurisdiction.
History
Founded in 2019 in Paris by CEO Mounir Benchemled as a DEX aggregator, the company shipped its MVP in June 2019 and raised a $2.7 million seed round in September 2020 from 32 investors. A further seed round of $3 million was recorded in May 2021, bringing reported cumulative funding to $5.7 million from over 33 investors. The PSP governance token launched in November 2021 with an airdrop to roughly 20,000 addresses, and a peer-to-peer NFT trading app followed in June 2022. The protocol later rebranded to Velora, and in April 2026 the Velora DAO passed proposal PIP-77 with 65.8% support to wind down the DAO and transfer protocol management, infrastructure and revenue to development firm Laita Labs.
Risks & controversies
In April 2026 the Velora DAO voted to dissolve its operational role, ending protocol fee-sharing with token holders and reducing VLR to a governance-only asset; some community members opposed the change on grounds of reduced token value alignment. The move followed declining governance participation, and about $415,000 in treasury funds were transferred to Laita Labs while staking programs were shut down. Reported PSP token prices have fallen sharply, with a one-year high of $0.0316 against a recent price near $0.0009. The protocol also operates in an evolving regulatory environment for decentralized exchanges; the founder has argued that as a non-custodial software provider it falls outside money-transmitter regulation.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 6
launches, deals, and filingsGovernance proposal PIP-77 passed with 65.8% support, ending the DAO's operational role and transferring protocol management, infrastructure and revenue to development firm Laita Labs. About $415,000 in treasury funds moved to the company, staking programs were shut down with immediate withdrawals allowed, and fee-sharing with token holders ended, leaving VLR as a governance-only token.
$415K source β
Kraken's wrapped bitcoin token kBTC, available on Ethereum and OP Mainnet, launched with support from ParaSwap and Morpho.
ParaSwap released a peer-to-peer NFT trading app on Apple's App Store allowing sellers to create custom orders for their NFTs.
ParaSwap launched its PSP governance token, initially claimable by roughly 20,000 eligible Ethereum addresses.
Paris-based DEX aggregator ParaSwap announced a $2.7 million seed round raised from 32 investors, with proceeds earmarked for scaling its API infrastructure.
$2.7M source β
ParaSwap released its MVP allowing users to swap Ethereum ERC-20 tokens sourced from liquidity networks including Uniswap, Bancor and Kyber; work had begun in mid-April 2019.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 8
primary sources listed
- ParaSwapparaswap.xyz Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does ParaSwap do?
- Velora, formerly ParaSwap, is an intent-based DeFi trading protocol for crosschain swaps, limit orders and gasless execution.
- Who are ParaSwap's investors?
- ParaSwap's investors include BootNode, Genblock Capital, Wintermute, Woodstock Fund.