The article provides a detailed guide to Velodrome, a decentralized exchange protocol built on the Optimism protocol, highlighting its innovative dual-token model for liquidity incentives and governance participation. It discusses Velodrome's significance in solving liquidity fragmentation issues on the Optimism network. Readers will learn about Velodrome's market performance, technical architecture, tokenomics, and its role within the Optimism ecosystem. This guide is particularly useful for investors, DeFi enthusiasts, and participants interested in governance and liquidity provision. Keywords include Velodrome, decentralized exchange, liquidity protocol, Optimism, VELO token, dual-token model, governance, and Gate.