Velas (VLX) is an EVM-compatible blockchain launched in 2019 by Alex Alexandrov (previously founder of CoinPayments, the crypto payment gateway) that distinguishes itself through its AIDPOS (Artificial Intelligence Delegated Proof-of-Stake) consensus mechanism — in which a trained artificial neural network participates in the validator selection and network optimization process, dynamically adjusting consensus parameters to maximize throughput and minimize latency — building on a Solana-derived codebase enhanced with full EVM compatibility so that developers can deploy existing Ethereum (Solidity) smart contracts and DeFi protocols with Solana-inspired transaction throughput (targeting 75,000+ TPS) without rewriting applications for Solana’s non-EVM Rust-based programming model, with VLX as the native staking, fee, and governance token.
| Stat | Value |
|---|---|
| Ticker | VLX |
| Price | $0.00 |
| Market Cap | $1.80M |
| 24h Change | -84.6% |
| Circulating Supply | 2.82B VLX |
| Max Supply | 2.12B VLX |
| All-Time High | $0.57 |
| Contract (Ethereum) | 0x8c54...edb9 |
| Contract (Binance Smart Chain) | 0xe9c8...45fc |
How It Works
- AIDPOS (AI DPoS) — In standard Delegated Proof-of-Stake, token holders vote for validators who produce blocks. In Velas’s AIDPOS, an additional layer adds a trained neural network that evaluates historical validator performance, network conditions, and security metrics — and makes validator selection recommendations or automatic parameter adjustments that human governance cannot easily replicate. The claimed benefit is self-optimization of consensus without manual governance votes for every parameter change.
- EVM compatibility — Velas runs a full Ethereum Virtual Machine (EVM), meaning any smart contract compiled for Ethereum (Solidity, Vyper) can be deployed on Velas without modification. MetaMask, Hardhat, Truffle, and other Ethereum development tools work directly.
- Solana-inspired architecture — Velas draws from Solana’s approach for high throughput (parallel transaction processing, account-based state model) while adding the EVM layer on top, positioning itself as a high-performance Ethereum-compatible chain.
- VLX staking — VLX holders stake to validators (or delegate to them) to participate in consensus, earn block rewards, and vote on governance proposals.
- Cross-chain bridges — Velas maintains bridges to Ethereum, BNB Chain, and other EVM chains for token transfers.
Tokenomics
| Parameter | Value |
|---|---|
| Ticker | VLX |
| Chain | Velas Network (native) |
| Max Supply | ~2,119,247,539 VLX |
| Private sale | 2018–2019 |
| Public IEO | November 2019 on BitMax (now AscendEX) |
| Inflation | Variable PoS staking rewards |
| VLX utility | Transaction fees, staking, governance |
Use Cases
- EVM dApp deployment — Deploy Ethereum-compatible DeFi, gaming, and NFT dApps with high throughput and low fees.
- High-frequency payments — VLX as a payment token on the Velas network for micropayments and gaming.
- Gaming — Velas partners with gaming studios for on-chain gaming assets requiring high TPS.
- Validator staking — VLX staked to validators for block production and rewards.
- Cross-chain DeFi — VLX bridges enable participation in multi-chain DeFi.
History
- 2018 — Velas founded by Alex Alexandrov (who also founded CoinPayments.net, one of the largest crypto payment gateways). The AI-driven consensus concept is designed as a differentiating innovation for a crowded Layer 1 market.
- 2019-11 — VLX token IEO on BitMax. Mainnet launches with the AIDPOS consensus mechanism active. The network goes live with initial ecosystem applications.
- 2020–2021 — Velas expands its EVM compatibility, making the chain directly usable by Ethereum developers. Multiple DeFi protocols launch on Velas. The NFT marketplace AstroSwap (VLX-paired DEX) launches as a flagship DeFi application.
- 2021 — VLX and Velas reach ATH market cap during the bull market. The gaming strategy intensifies — Velas partners with Atari, esports organizations, and gaming studios for blockchain gaming infrastructure. The gaming vertical becomes a core narrative.
- 2021 — Velas becomes an official partner/sponsor of Formula 1’s Aston Martin Cognizant F1 team, gaining global brand visibility. This partnership is designed to position Velas as a mainstream technology brand.
- 2022 — Bear market; VLX price declines significantly. The Aston Martin partnership (headline partnership of 2021) is not renewed. Gaming projects on Velas face the same headwinds as all GameFi in the 2022 bear.
- 2023–2024 — Velas continues operating as an EVM chain. Development continues with smaller community and lower market visibility. The AI branding predates the AI crypto narrative wave (which would intensify in 2023 with projects like Fetch.ai), but Velas focused its AI claim on consensus optimization rather than AI application layer.
Common Misconceptions
“The ‘AI’ in AIDPOS is AGI or large language model AI.”
The AI in Velas’s consensus is a trained neural network for validator selection optimization — not a large language model or general AI. It is a specialized machine learning model for a specific consensus parameter optimization task, not “artificial general intelligence” steering the blockchain.
“Velas is a Solana fork.”
Velas is Solana-inspired in architecture but is not a direct fork of the Solana codebase in the same way as, say, Eclipse (a true Solana VM deployment). Velas built its own implementation of high-throughput processing with EVM on top.
Social Media Sentiment
Velas has a small but active community primarily in Eastern Europe and among gaming/crypto crossover audiences. The Formula 1 Aston Martin partnership generated significant positive press in 2021 but the lack of renewal in 2022 was a visible step back. The AIDPOS concept is interesting but difficult to communicate and verify — making it challenging for Velas to build a technical credibility narrative comparable to Solana’s provable throughput benchmarks or Ethereum’s audit ecosystem. The project is less visible in 2024 than at its 2021 peak.
Last updated: 2026-04