9/16 Binance ALPHA New Coin Research: $VLR (Velora Formerly Paraswap) Comprehensive Network Analysis

This project is a migration from the old token PSP (ParaSwap). Binance Alpha trading time is 19:00, with a funding of $5.7 million. The current project's popularity is moderate, it is a migration of an old DeFi aggregator project from 2021, below we will analyze $VLR (Velora, previously ParaSwap):

I. Investment Research Conclusion (Quick Summary)

Project Summary: DeFi Aggregator, 95% of the old token has been migrated and circulated, Bybit Hacker Security Incident

Simple Introduction:

Velora (formerly ParaSwap) is a DeFi aggregator that integrates liquidity from decentralized exchanges and lending protocols into a comprehensive and secure interface and API.

Valuation Analysis: Total token supply 2 billion, circulating 1.9 billion, source from PSP 1:1 migration, migration incentive 5%

0) Seed Round (2020): $2.7 million, valuation $40 million

1) Expansion Seed Round (2021): $3 million, valuation unknown

2) Pre-migration token price of PSP was $0.020, corresponding to a $40 million valuation

Institutional financing total $5.7 million, allocated tokens 16.5%, average institutional valuation $35 million, corresponding to a token price of $0.017

Comprehensive Valuation Estimate: Migrated from the PSP token, the token price is estimated to fluctuate little, the institutional cost price has limited reference value, has been fully unlocked, a 2021 project, expected around $0.02, corresponding to a $40 million valuation.

Comprehensive Evaluation: A 2021 DeFi aggregator (ParaSwap) renovation, 1:1 migration of the old token PSP, 95% circulation, after the Bybit hacker security incident, rebranded, high point in 2021 was $2.1, reference value is not significant, old projects are not recommended for participation, institutions have fully unlocked, no reference value for institutional costs, different from the new token strategy, buy new not old, low certainty, neutral view.

II. Summary of Other KOL Opinions: 2 Bearish, 2 Neutral

1) ElevenEleve [Neutral]

@EleveResearch:

VLR can be considered as an old token

PSP used to convert 1:1 to VLR

PSP current price is $0.021, in a way, it's also the pre-market of VLR

VLR's initial circulation is 95%

2) U.mi [Bearish]

@crypto_umi888:

Founded in France in 2019, backed by top institutions
Negative news:
Issued $PSP in 2021, peak at $1.5, now back to $0.02, old users exchanged 1:1 for new tokens, were washed out in the early stage, no patience to hold, due to contract vulnerabilities in 2024 caused some security issues, renamed to Velora.
Rehashing old stories + security issues, then renaming, feels like trying to package themselves, making investors believe this time is different.
For short-term Alpha, look at market cap and value, don't blindly chase the bottom

3) Tutu [Neutral]

@0xtututu:

It's obvious that the project team wants to take advantage of the market trend to make a move, how they will do it remains to be seen, the previous token was almost worthless, FDV was still $37.8 million, the new token should be higher than that
Opening risk may be high, see if it can rebound and wash out, since the project team isn't releasing anything now, it's unclear how they plan to make money
Circulation will be visible on Binance upon opening, the initial circulation is likely small, staking airdrops and mouth rewards have not yet been released, $PSP exchange is still far away

4) Jun Ge [Bearish]

@LiFeng61532:

There is a lot of selling pressure, the opening will need to drop and wash out for a while, you can accumulate at the bottom
One sentence to describe the "DeFi Autopilot" sector, there is room for price manipulation
Binance Alpha users: Not recommended to claim

Risk Warning: The above content is based on network information analysis and compilation, for project research and discussion only, not to be used as investment basis.

Author: Sakura, ChainThink

Editor: Evan, ChainThink