From award booking Sydney to Singapore, Krisflyer has 28,000 points per one way and Velocity has 35000 per one way. Would you book with Kirsflyer or Velocity?
The conversation rate is 1.35:1, so 35000 velocity points translate to 26,000 Krisflyer points.
Thanks!
P. S.
The 15% discount for redemption and redemption upgrade bookings made through singaporeair.com and the SingaporeAir app will be discontinued some time ago.
I would personally use the velocity points first. They are easier to earn than krisflyer. Also consider the differences in taxes.