Velvet Capital redesigns its app to simplify DeFi portfolio management, aiming to improve user experience and foster mass adoption. The app now offers seamless portfolio management across various protocols, enhanced mobile compatibility, and is designed for both novice and experienced DeFi users. Backed by Binance Labs, Velvet Capital addresses the challenges of technical complexity and market fragmentation in the DeFi space. The platform, initially launched on the BNB Chain, has expanded to Arbitrum, offering improved transaction speed and cost efficiency. Velvet Capital also plans to introduce advanced trading techniques and expand its support to more Ethereum Virtual Machine (EVM)-supported chains. The 'DeFi Summer 2.0' event, running from May 1 to June 30, aims to increase user engagement by offering tripled total value-locked (TVL) based points and special liquidity mining sessions.

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By redesigning its app, Velvet Capital aims to simplify DeFi portfolio management, addressing the technical complexities that damage user experience. In the decentralized finance (DeFi) space, users often encounter technical jargon and a lack of user-friendly design, hindering mass adoption. The State of DeFi report emphasizes that engaging new users in the DeFi industry requires a training process, and retaining users sustainably is a challenge. Another report reveals that more than 17,000 DeFi protocols and applications are available, making the ecosystem daunting even for the most experienced investors. Far from ideal for the overall user experience, the current DeFi space needs intuitive portfolio management apps suitable for cross-chain transactions. Velvet Capital , an intent operating system for DeFi, has redesigned its app to offer seamless portfolio management to bridge the gap between decentralized finance’s potential and widespread adoption. Backed by Binance Labs, Velvet Capital eliminates market fragmentation by enabling users to switch between various protocols and manage their portfolios in one place. With its renewed interface developed for novice DeFi users and experienced traders familiar with sophisticated trading apps, Velvet addresses the traditional shortcomings of on-chain portfolio management.  The renewed Velvet app has become fully mobile-compatible. Source: Velvet Capital The redesigned Velvet app offers an enhanced experience for both vault managers and casual users. The new app is also optimized for mobile, allowing users to easily access decentralized applications (DApps) from their mobile devices. Vault Managers can also manage their portfolios more intuitively with improved visualization of price charts and data. Initially launched on the BNB Chain, the DeFi asset management platform expanded to Arbitrum, a layer-2 scaling protocol that enhances transaction speed and reduces costs. As a DeFi intent-based operating system, Velvet is a portfolio management product that allows users to seamlessly launch and manage their tokenized vault or structured product —or find one managed by others. Velvet provides the infrastructure to set up DeFi vaults —smart contracts (created with Safe(Core) Protocol) that allow to manage crypto assets and find yield opportunities through staking, lending, and liquidity pools. Velvet Capital plans to revitalize the DeFi scene with the “DeFi Summer 2.0” event, which will run from May 1 to June 30. During this period, users on both BNB Chain and Arbitrum will be able to earn three times the total value-locked (TVL) based points. To celebrate the launch of the newly designed Velvet Capital user experience, we are kicking off DeFi Summer 2.0 where starting today (May 1st) to June 30 all users will receive 3x the TVL-based points🎉 DeFi Summer 2.0 applies to users on both BNB Chain and Arbitrum! So make… pic.twitter.com/9fgGkxLn1t — Velvet.Capital (@Velvet_Capital) May 1, 2024 Users will also have the potential to earn six times more points during special liquidity mining sessions. The promotion is designed to increase rewards for users who interact with the platform by creating vaults and managing assets. Velvet Capital emphasizes that these points will contribute significantly to future rewards and utility in its ecosystem. Cointelegraph Accelerator participant Velvet plans to integrate with numerous Ethereum Virtual Machine (EVM) -supported chains, though the names have not yet been announced. Velvet also intends to add advanced trading techniques, such as derivatives, RWAs, low-cap altcoins and token generation events (TGEs), to its app. When stating that DeFi adaptation will expand, “We believe as time goes on more people will want to move their assets on-chain and be able to stake, lend, borrow and trade (spot/leverage),” Velvet Capital emphasized, adding: “For this to happen, the DeFi ecosystem has to become much simpler to navigate (like a traditional brokerage account).” “With our new app design and future versions, we hope Velvet Capital can grow into a one-stop shop for managning an on-chain portfolio.” Tackling the user experience challenges in the DeFi arena is crucial for its evolution from a niche market to a mainstream financial solution. By simplifying the interaction models and enhancing the accessibility of DeFi platforms, the industry can attract a broader spectrum of users —from casual investors to seasoned financial experts. Learn more about Velvet Capital Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice. 

Velvet Capital Revamps App to Simplify DeFi Portfolio Management