As explained by Serious Eats, velveting is an approach that works well for restaurants, which can keep a pan of oil bubbling away on the stove at all times. But many home cooks might not want to use so much oil just to create one stir fry meal, and for those folks, the outlet recommends a variation on velveting called water-velveting.
The initial process is exactly the same as with regular velveting. The protein is marinated in the egg white, cornstarch, and rice wine mixture and refrigerated for half an hour. The difference is that rather than quickly cooking the meat in oil, water-velveting calls for the marinated meat to be briefly blanched (about 30-40 seconds) in boiling water with about a teaspoon of oil added to it. The meat should then be drained thoroughly, so there is no excess water. That’s it. It’s then ready to be incorporated into stir fries or other dishes. With the same results as oil blanching, it’s a technique that’s a bit more approachable for the home cook.