This is a solidly-like DEX on iota. IVM is the reward token of Velocimeter on IOTA. Velocimeter rewards liquidity providers with oIVM, uses veLP as its solidly-veNFT and lets veLP holders direct emissions by voting.
Leveraging the ve33 model, voters and LPs earn rewards through protocol emissions, incentives, trading fees, exercise redemption fees - creating a self-sustaining liquidity flywheel...