I learned a bit of the Velas chain through a trusted friend's recommendation.
Google and you'll find the announcement back in January 2021 that Velas has forked Solana and supports EVM (Ethereum Virtual Machine). Solana wasn't that well-known until recent months, and now being one of the most popular blockchains for institutional level liquidity providers and near real-time response-time/user experience, it means Velas now supports the most popular architecture in DeFi in EVM on the fastest blockchain in Solana--the best of both worlds.
I haven't had the chance to understand too much about the architecture of Velas, our team tested launching a fork of Uniswap on it, and things seem to be working. Here's a sample transaction on the test net: https://evmexplorer.testnet.velas.com/tx/0x1edef77cad3383ed5f056b8f9363930a97c1f78a46cf90b347ac0954d4f8d876/token-transfers
I am curious if it's using the same open-source package as the Neon Lab, which announced a $40m funding last week during the Solana conference Breakpoint. One thing I'm sure of is that Solana is aware of Velas's fork and it is featured on Solana's website: https://solana.com/ecosystem/velas and the Velas project's token has gone up significantly since October this year: https://coinmarketcap.com/currencies/velas/