Velo’s tokenomics are based on a deflationary model that aims to increase the value of the token in the long term. The VELO token is used to conduct transactions within the network and as an incentive for users and participants who support the network.The VELO token has a limited total supply of 30 billion. No additional tokens will be created, resulting in a limited supply. This limited supply can positively influence the token value, as increased demand meets a limited supply.Furthermore, Velo implements a reward system for users who support the network by staking their tokens. Users can hold their VELO tokens in a staking mechanism to receive rewards. This encourages participation and community engagement, contributing to the stability and security of the network.