OPXVEVELO is tokenized weight of the OpenX project's veVELO position. OpenX is a DeFi platform on Optimism.
OpenXSwap as a community is locking Velo in order to create additional liquidity for our aggregator on Velo through our perpetual bonds.
VELO will always be convertible for 1 opxveVELO, regardless of either's open market price.
opxveVELO will never be exchangeable for VELO except via a trade on the open market.
The conversion process is irreversible. Minting opxveVELO is trustless and permissionless.
There is no "hard-peg" between opxveVELO and VELO.
