Velodrome Finance (VELO) is an ERC20 token on the Optimism (OP Mainnet) network, and you can manage VELO tokens using your Optimism (OP Mainnet) account in Ledger Live. Here’s how you can view, receive, and send VELO tokens.
Before You Start
Ensure an Optimism (OP Mainnet) Account: Confirm that you have an Optimism (OP Mainnet) account set up in Ledger Live.
Update Firmware and Ledger Live:
Update your Ledger device’s firmware (OS) to the latest version.
Ensure you have the latest version of Ledger Live.
View VELO Tokens
Access Your Account:
Navigate to the Accounts tab in Ledger Live.
Locate your Optimism (OP Mainnet) account where your VELO tokens are stored.
Click on Show tokens under the account.
Your VELO tokens will be displayed.
Receive VELO Tokens
Add VELO Token to Ledger Live:
Navigate to your Optimism (OP Mainnet) account in Ledger Live.
Scroll down to the Tokens section.
Click on the +Add token button.
Select VelodromeV2 and click Continue.
Connect and Unlock Your Ledger Device:
Connect your Ledger device and unlock it.
Open the Ethereum (ETH) app on your Ledger device and press both buttons simultaneously to continue.
Confirm that the message Application is ready is displayed.
Verify and Approve Address:
Your Optimism (OP Mainnet) account address will be displayed on your device and in Ledger Live.
Verify that the address shown on your device matches the address displayed in Ledger Live.
If they match, approve the address on your device by pressing the right button until you see Approve and then press both buttons simultaneously.
Share Your Address:
Copy the address and share it with the sender.
Ensure the address does not change after copying and pasting.
Sending from an Exchange:
When sending VELO tokens from an exchange like Coinbase, Binance, or Kraken, select the Optimism (OP Mainnet) network. Using the wrong network could result in your tokens being sent to the wrong account.
Send VELO Tokens
Initiate the Transaction:
In the left sidebar menu in Ledger Live, go to Accounts and select your Optimism (OP Mainnet) account.
Click on Send.
Enter Details:
Enter the recipient address. Double-check the address and click Continue.
Enter the amount you want to send.
Select the amount of network fees. Higher fees result in faster transaction processing, then click Continue.
Confirm Transaction:
Press both buttons on your Ledger device to Accept and send the transaction.
Confirm and approve the transaction on your Ledger device—press both buttons simultaneously to Approve.
Review the transaction summary—Amount, Network fees, and Total to debit—and click Continue.
Completion:
The transaction is sent. Your account balance will be updated once the blockchain confirms the transaction.
For more detailed information, ensure you follow the specific instructions for managing tokens on the Optimism network through Ledger Live.
“Fill out the form to send a request to the wallet’s customer service.”