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Velvet V1 Review 2026: BNB Chain Index and Social Trading

Velvet V1 is the BNB Chain index product from Velvet Capital, a non-custodial social trading and portfolio platform. Its V1 deployment is small, and the wider Velvet brand has moved toward multi-chain trading and AI tools.

BNB Chain

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

6.0/10

Mixed

Visit Velvet V1

Our verdict on Velvet V1

6.0/10

Velvet V1 suits crypto-curious users who want to hold an on-chain basket of tokens on BNB Chain and like the idea of following other traders without giving up custody. Its strengths are the non-custodial model and the social and AI tooling in the wider Velvet Capital app. The main caveat is that V1 holds only about $41,550 in locked value, fees are not published, and audit details are thin. Check which version the app currently offers and read the audits first.

Score breakdown

How Velvet V1 scores

Security: 5.5/10
Ease of use: 6.5/10
Fees: n/a
Features: 7.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Velvet V1?

Velvet V1 is the early index product from Velvet Capital, listed on BNB Chain since February 2023. It is categorised as an index protocol, where users hold or follow a basket of tokens as a single portfolio.

Velvet Capital now presents itself as a social trading terminal covering spot, perpetual futures and yield strategies across many chains. It also describes a wallet tracker, an AI trading agent, aggregated DEX routing, MEV protection and advanced order types. The homepage claims more than 100,000 traders, a figure that covers the app overall.

The V1 listing itself is small, with about $41,550 in locked value. That suggests a legacy deployment rather than the centre of the project, and a 2023 post refers to a later V2. Readers should treat V1 as one part of a larger, evolving product family.

How Velvet V1 works

Velvet V1 is described as an index product on BNB Chain. An index holds several tokens in one portfolio, so a user gets exposure to a basket rather than a single asset. In Velvet's model, trading is non-custodial, meaning actions are executed from the user's own wallet rather than from funds held by the company.

The wider Velvet Capital platform adds a social layer on top. Users can browse other traders' portfolios, follow top wallets, and use an AI agent for token research. Trades are described as routing through aggregated DEX liquidity with MEV protection, and the app supports limit orders and take-profit/stop-loss orders.

Velvet's own blog describes the newer stack as powered by intents, with account abstraction and an AI framework. Under an intent model, you state the outcome you want and an execution layer finds a route to deliver it. It is not clear how much of this applies to the V1 deployment itself.

7 features

Key features

Non-custodial trading

Trading is described as executing from the user's own wallet rather than from a pooled company account.

Social trading layer

The platform lets users explore other traders' portfolios and follow top traders, with a wallet tracker for smart-money flows.

Index-style portfolios

The V1 listing is categorised as an index product, where a basket of tokens can be held and managed as one portfolio.

AI research agent

Velvet Capital describes an AI trading agent for token research and onchain analysis.

Aggregated execution

Trades are described as routing through aggregated DEX liquidity with MEV protection.

Advanced order types

The platform describes limit orders and take-profit/stop-loss orders alongside spot, perpetual futures and yield strategies.

Intent and account abstraction

Blog posts describe intent-based execution and account abstraction as part of the broader Velvet stack.

Pros and cons

What we like

Non-custodial design, with trades executed from the user's own wallet.
Index-style portfolios give diversified exposure without managing each token separately.
Social features let newcomers follow other traders' portfolios and wallets.
Two audits are listed for the project.
The team keeps publishing product updates, with blog posts through 2026.
Aggregated routing and MEV protection are described for trade execution.

Watch out for

Only about $41,550 in locked value on the V1 listing, which points to a small, legacy deployment.
Fees are not published in the material reviewed, so costs cannot be compared up front.
Only two audits are listed, with no auditor names or scope published.
Newer products and chains are described under the Velvet Capital brand, so it can be unclear which features apply to V1.
Smart-contract, price-slippage and token-selection risks apply to any on-chain index or portfolio product.
The VELVET token and any reward programs add a layer of speculative exposure that newcomers may not need.

Velvet V1 fees

Velvet does not publish a fee schedule in the material reviewed. There is no stated management, performance, deposit or withdrawal fee for V1.

As with any on-chain product, users should expect network gas costs on BNB Chain plus slippage when trades route through DEX liquidity. Any platform or strategy fees would be visible in the app before a transaction is confirmed, so check them there.

Is Velvet V1 safe?

Two audits are listed for the project, but the material reviewed does not name the auditors or detail their findings. Read the reports directly before depositing. Audits reduce risk but do not remove it, and the V1 contracts are older code that has had less capital through it than larger index products.

The non-custodial design means users keep control of their wallets, which lowers counterparty risk compared with a centralised platform. Remaining risks are smart-contract bugs, token price swings, liquidity and slippage in the underlying tokens, and any rewards or token mechanics. No hack or shutdown of V1 appears in the material reviewed. Regulatory status and team details are not published there.

6 steps

How to get started with Velvet V1

1
Open the official Velvet Capital app and check that you are on the correct address before connecting anything.
2
Connect a self-custody wallet that supports BNB Chain, and keep a small amount of BNB for gas.
3
Find the V1 index or portfolio products and read each strategy's token list and any listed fees.
4
Review the available audit reports and the contract addresses you will be interacting with.
5
Start with a small test amount and confirm how deposits and withdrawals work.
6
Monitor the position and note any reward or points programs, since their terms can change.

Open Velvet V1

Who Velvet V1 is for

Velvet V1 suits DeFi users comfortable with a self-custody wallet who want index-style exposure on BNB Chain or want to explore Velvet's social trading tools. It is less suited to beginners who need clear fee tables, or to anyone who wants a large, battle-tested pool of liquidity.

Velvet V1 FAQs

What is Velvet V1?

Velvet V1 is the earlier index and portfolio product from Velvet Capital, listed on BNB Chain. Velvet Capital describes itself as a non-custodial trading and portfolio management platform with social features. The V1 listing is categorised as an index product.

Is Velvet V1 non-custodial?

The product is described as non-custodial, with trades executed from users' own wallets. That reduces the risk of a company holding your funds, but smart-contract bugs, bad trades and market losses remain possible. Check the audit reports before depositing.

Which blockchains does Velvet support?

The V1 listing shows BNB Chain. The broader Velvet Capital platform is described as supporting Solana, Base, Ethereum, Hyperliquid, Ink, Monad, Sonic, Robinhood Chain and others, but that applies to the wider product rather than V1 specifically.

Does Velvet have a token?

The project lists a token called VELVET. Earlier community posts also describe airdrop points tied to a liquidity mining program on a later version of the product. Reward terms can change, so confirm them in the app before relying on them.

What are the fees on Velvet?

Fee levels are not stated in the material reviewed. Expect network gas costs plus any platform or strategy fees shown in the app before you confirm a transaction.

How many people use Velvet?

The homepage claims 100,000+ traders use the platform. That figure covers the Velvet Capital app overall, not V1 alone, and it is a self-reported number. The V1 TVL is small, at roughly $41,550.

Is Velvet V1 still the main product?

Not necessarily. Velvet V1 has small locked value and the platform has expanded into other products and chains. Anyone interested should check which version the app currently offers and read the audit information first.

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