VeleroDAO

a full-fledged fork of MakerDAO, created specifically to work on top of the Velas Blockchain. VeleroDAO is a protocol behind the stablecoin $USDV — a cryptocurrency that maintains the $1 value.

## Overview VeleroDAO is a decentralized stablecoin protocol built on the Velas blockchain. It is a direct fork of MakerDAO, the established collateralized debt position (CDP) framework that powers DAI on Ethereum. By adapting MakerDAO's battle-tested architecture to Velas, VeleroDAO enables users to mint USDV, a stablecoin designed to maintain a 1:1 peg to the US dollar. The protocol operates without centralized intermediaries, relying instead on cryptocurrency collateral locked in smart contracts to back the stablecoins in circulation. The existence of VeleroDAO addresses a specific need: us