Velvet launches VelvetX: a SocialFi trading platform with rewards

Velvet introduces VelvetX, a new SocialFi trading platform that combines trading with social features. Users can share strategies, track smart wallet activity and copy-trade. To boost the launch, attractive rewards are being offered for early users.

What exactly is VelvetX?

VelvetX is a platform where trading and social interaction come together. In addition to simply buying and selling crypto, the platform offers the ability to monitor the wallet activity of others and automatically copy their trades through copy-trading. There is also a public leaderboard, where the best traders are visible to the rest of the community.

At the top of that leaderboard are traders such as “surveillor”, with a profit of $87.846 and a return of +40.81% on a volume of over $307.000, Other notable names include “Roshan” with a return of no less than +151.65% and “bulgugi” with +39.11%. The figures show that serious gains are being made on the platform.

Rewards and access

Velvet is throwing in plenty of incentives to attract users. For instance, there is currently a cashback of up to 100% on trades, and 2.7 million VELVET tokens are ready as summer rewards. This makes the launch period especially interesting for traders looking to take advantage of the platform’s early phase.

Access to VelvetX is currently only available via an invitation code. The platform is therefore still operating on an invite-only basis, giving it an exclusive character in this initial stage. Anyone looking to obtain a code can find it in the replies under the original announcement on X.