[ParaSwap Renamed to Velora and Introduces VLR Token to Replace Original PSP Token] Golden Finance reports that the cross-chain trading protocol ParaSwap has officially rebranded to Velora and launched a new governance token, VLR, to replace the original PSP token. With the launch of VLR, PSP's functions in governance, staking, and rewards will cease effective immediately. The team stated that VLR will adopt a single-asset model with a gas-free mechanism and directly link rewards to protocol revenue through a unified staking hub on Base, aiming to achieve a more transparent and sustainable incentive model. PSP tokens will remain transferable and usable but will no longer receive official support. Users can migrate to VLR at a 1:1 ratio starting from September 16, with the migration window open for at least one year. Holders of PSP, sePSP 1, and sePSP 2 must complete the migration to continue participating in governance and rewards. Those who complete the migration by December 16 will receive additional VLR rewards.