For the Laos Digital Gold Project, Velo and the Solana Foundation signed a MOU (memorandum of understanding).
The Velo and Solana Foundation have partnered to provide a clearing house for Laos Digital Gold transactions.
Following an announcement on April 8, Velo revealed a memorandum of understanding (MOU) on establishing the project’s clearance house.
However, collaboration with its collaborator Lightnet and the e Solana Foundation would result from this endeavour.
Velo will function as the clearing house and infrastructure layer for the project’s transactions, whereas Solana will provide settlement capabilities for Laos Gold on the blockchain.
Velo and Solana Launch Benefits
As stated in the announcement, this is designed to ensure the security of every transaction on the blockchain and provide users with a streamlined processing experience.
The Laos Digital Gold initiative will connect Solana’s blockchain, Nova, and EVM-compatible chains to foster interoperability and a connected ecosystem.
“The MOU also includes a robust bridging mechanism to enhance interoperability between Solana‘s L1, Nova, and EVM-compatible chains. This initiative aligns with the blockchain principle of interconnectedness, promoting connectivity and accessibility of digital assets across different blockchain networks.”
This will facilitate the growth of the Laos Digital Gold Project’s user base, which comprises individuals searching for enhanced systemic advantages.
The team emphasizes the Solana partnership as a combination of financial investment and digital space opportunity.
Team Tips Liquidity for Laos Gold
In addition, the Solana blockchain platform will employ liquidity management protocols, including on-ramp and off-ramp systems.
Before a subsequent global release, this would be made available in Southeast Asia to fortify digital asset transactions.
This results from a significant partnership with the Solana Foundation, which has resulted in enhanced functionality and a growing clientele.
Consistent with the agreement, Velo assures that Laos Gold operates efficiently.
This entails verifying transactions, maintaining confidence, and guaranteeing the fulfilment of contractual duties on behalf of Solana.
“The collaboration marks a significant advancement, unlocking new possibilities for asset transfers, liquidity provision, and Web3 activities, meeting the rising demand for cross-chain transactions and contributing to the growth of the Web3 ecosystem.”
