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Velora (formerly ParaSwap) unveiled VLR, a governance-cum-staking token that will replace the PSP token at a 1:1 ratio.Ā
In a press release shared with BeInCrypto, Velora said that the new asset will power āintent-nativeā order flow across nine chains, including a fresh deployment on Coinbaseās Base network.
Beyond a simple ticker swap, the new coin is wired directly into protocol utility. VLR will enable paying staking rewards in proportion to the liquidity that a user supplies.
Moreover, Velora has ring-fenced 10 % of total VLR supply for migration incentives and broader ecosystem growth, signalling a determination to seed early network effects rather than rely solely on brand loyalty.
The mechanics of moving are intentionally friction-lite. A one-click interface will let holders convert and bridge to Base without paying gas, and the migration window stays open for three monthsālong enough for casual users to make the leap yet finite enough to keep momentum.
Velora argues that Baseās place inside the emerging Superchain constellation will anchor future integrations while keeping transaction costs well below main-net levels.
āVeloraās decision to expand to Base is strategic with the latter offering reduced gas costs, faster transaction execution, and strong alignment with the broader Superchain ecosystem,ā the project said.
Previously, many other projects throughout 2024 and 2025 have conducted rebranding, citing various reasons. Not just crypto projects, but listed companies such as MicroStrategy also rebranded to Strategy in February 2025.
| Project (Year) | Old Name / Ticker | New Name / Ticker | Swap Ratio | Rationale* |
|---|---|---|---|---|
| EOS (2025) | EOS | A | 1:1 | Align with new Layer-1 āVaultaā roadmapĀ |
| Worldcoin (2024) | WLD | World | No swap | Broaden identity services beyond orbsĀ |
| MakerDAO (2024) | MKR | Sky / SKY | 1:1 | āEndgameā scaling plan, USDS stablecoinĀ |
| Fantom (2024) | FTM | Sonic / S | 1:1 | New ultra-fast L1, Sonic ChainĀ |
There are mainly three drivers for such rebrandings.
āProjects occasionally opt to rename or rebrand their tokens. This can be a strategic move driven by various business, operational, or commercial purposes. However, not all rebranding efforts are driven by legitimate business needs. There have been instances where projects rebrand their tokens without a clear or viable reason, sometimes with the intent to obscure or hide certain actions.ā Binance Research commented.
Nonetheless, Veloraās push to Base and the debut of VLR place it squarely in 2025ās branding boom. Whether the new ticker drives sustainable adoption, or merely a short-term hype cycle, will hinge on execution, transparent tokenomics, and user retention in an increasingly crowded cross-chain arena.
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