ParaSwap

ParaSwap is the former name of Velora, a non-custodial EVM trading protocol that aggregates DEX and market-maker liquidity. It is not one pool or a custodial exchange: its decentralized exchange model compares routes, can split a trade, or can pass through intermediate tokens when the resulting execution accounts for gas and price impact. Some routing components are visible in the project’s open-source library, while settlement comes from the connected wallet rather than a platform balance.

A market swap starts with a chain-specific quote: choose the chain, sell token, buy token and amount, then inspect the returned route, price impact and minimum received before signing. The optimizer weighs liquidity, gas, hops and split routes and prepares calldata for the Augustus contracts. If the sell token is ERC-20, the wallet may need an allowance before the swap signature; the ERC-20 token standard defines the allowance mechanism, while typed-data permits can sometimes combine that step. Delta orders are different: you sign an intent, agents compete in an auction, and the winning route can include supported cross-chain settlement through Portikus coordination.

ParaSwap support is EVM-only and changes by deployment: Ethereum (1), BNB Chain (56), Avalanche (43114), Polygon (137), Gnosis (100), Arbitrum (42161), Optimism (10), Base (8453), Sonic (146) and Unichain (130). Standard swaps are primarily ERC-20 tokens with allowances and optional permits, while cross-chain intent settlement also depends on agents, bridges and destination finality. PSP is deprecated legacy exposure; VLR is the current governance and staking asset, so check the token contract instead of assuming an old ticker is still active.

A ParaSwap swap costs the pool or RFQ spread and fee embedded in the quote, network gas for approval and swap transactions, price impact from trade size against available liquidity, and any bridge or destination-chain cost on intent routes. Network gas pays for computational work, so an approval and a swap can be separate chargeable transactions. Compare the executable quote—especially minimum received after impact—with the total gas, rather than comparing only the mid-price.

ParaSwap is non-custodial: your wallet signs the transaction, while an approved contract can spend the allowance you grant. The page records independent audits and formal verification for current contracts, but smart-contract, approval, token, liquidity, routing, bridge and phishing risks remain; the Solidity security guidance explains why deployed contract code still needs careful handling. The 2024 Augustus V6 incident makes the practical check concrete: verify the current app and spender, inspect every signature, limit allowances, and revoke approvals you no longer use; Aave’s incident record describes the pending-approval failure mode.

To swap on ParaSwap, choose the chain and assets, evaluate the executable quote, then approve and sign only the transaction you intend to execute.

1. Open the app, connect the wallet, and confirm the chain before choosing tokens.
2. Enter the sell and buy assets, then read the route, price impact, minimum received and gas estimate.
3. If prompted, approve only the displayed spender and intended amount, sign the swap or intent, wait for confirmation, and check the result in your wallet.

Most swap failures have a route, wallet-state or transaction-state fix:

• Wrong network: switch the wallet chain and reload the quote; a quote is chain-specific.
• No gas: keep the native token for approval and swap transactions on that chain.
• Approval loop: check whether the wallet is asking for a permit, an allowance or the swap itself, then confirm the spender.
• High price impact: reduce size, split manually or choose a route with more liquidity; raising slippage does not improve the route.
• Reverted or stuck: inspect the transaction on an explorer, then re-quote rather than repeatedly resubmitting the same calldata.

The practical ParaSwap answers are: it is Velora’s former name, ERC-20 approval is conditional, and a route should be judged by minimum received plus gas.