Velo and Solana entered a Memorandum of Understanding (MOU) for the Laos Digital Gold.
Velo functions as the infrastructure layer, while Solana operates as the blockchain layer.
The team suggests a potential increase in the user base for digital transactions.
The Velo and Solana Foundation recently formed a partnership to establish a clearing house that facilitates transactions involving Laos Digital Gold. On April 8, Velo announced the establishment of the clearing house for the project through a memorandum of understanding (MOU).
This collaboration would involve its partner Lightnet and the e Solana Foundation. Velo will function as the infrastructure layer and the clearing house for the project’s transactions, while Solana will serve as the blockchain settlement layer for Laos Gold.
Velo and Solana Introduce New Advantages
This design ensures that the blockchain secures all transactions and provides users with a smooth processing experience. The Laos Digital Gold project aims to foster interoperability and create a connected ecosystem by establishing links between Solana’s blockchain, Nova, and EVM-compatible chains.
The MOU also includes a robust bridging mechanism to improve interoperability between Solana’s L1, Nova, and EVM-compatible chains. This initiative supports the idea of interconnected blockchain networks, allowing for easy access and connectivity of digital assets across different networks.
This will allow the Laos Digital Gold Project to increase its adoption rate among users looking for more system advantages. The team emphasizes the collaboration with Solana as a combination of financial investment and a chance in the digital realm.
Team Provides Liquidity Solution for Laos Gold
In addition, the platform will incorporate liquidity management protocols, such as on-ramp and off-ramp systems, on the Solana blockchain. This would be launched in Southeast Asia before a later global release to enhance digital asset transactions.
This results from a significant partnership with the Solana Foundation, which has led to various upgrades and a growing number of users. As per the agreement, Velo is committed to ensuring the efficient operation of Laos Gold. Ensuring the execution of contractual obligations on Solana involves validating transactions and upholding trust.
This collaboration represents a significant step forward, opening up exciting opportunities for transferring assets, providing liquidity, and engaging in Web3 activities. It addresses the increasing need for cross-chain transactions and contributes to expanding the Web3 ecosystem.
