Veles is a significant figure in Slavic mythology, often associated with the earth, waters, and the underworld. He is known as a god of cattle, commerce, and magic, representing the balance between life and death. Veles is often depicted as a serpent or dragon, symbolizing his connection to the depths of the earth and the mysteries of nature. In folklore, Veles is frequently portrayed as a rival to the sky god Perun, embodying the struggle between chaos and order. This rivalry highlights the importance of both gods in maintaining the balance of the universe, making Veles a central character in Slavic spiritual beliefs.