It was colonized by Timoleon in 338 B.C. with settlers from Velia in Lucania, and in the time of the tyrant Phintias (289-279) it had regained some of its power.
167) speaks of it as being already a flourishing city in about 540 B.C., when the neighbouring city of Velia was founded.
At Corinth the unit was evidently the Assyrian and not the Attic, being 129.6 at the earliest (17) (though modified to double Attic, or 133, later) and being divided by 3, and not into 2 drachms. And this agrees with the mina being repeatedly found at Corcyra, and with the same standard passing to the Italian coinage (17) similar in weight, and in division into 1/3 -- the heaviest coinages (17) down to 400 B.C. (Terina, Velia, Sybaris, Posidonia, Metapontum, Tarentum, &c.) being none over 126, while later on many were adjusted to the Attic, and rose to 134.
It was used at Phocaea as 58.5, and passed to the colonies of Posidonia and Velia as 59 or 118.
On the west coast stood Posidonia, known under the Roman government as Paestum; below that came Elea or Velia, Pyxus, called by the Romans Buxentum, and Laus, near the frontier of the province towards Bruttium.
Velia up to the low cliffs of the Esquiline, and in another it laid waste the Aventine, the Forum Boarium and Velabrum till it reached the Tiber and the solid barrier of the Servian wall.
PARMENIDES OF ELEA (Velia) in Italy, Greek philosopher.