Volantis was the first colony of the Valyrian Freehold. After the Doom of Valyria they sought to be the rulers of the freehold. They failed and to make matters worse they were invaded by Dothraki warriors. However, they were eventually ruled by the Elephant political party, which defeated the Dothraki, and lived in peace.
Volantis is known for fine red wine. It is a hot and humid city, and the center of the slave trade. Citizens of Volantis tattoo themselves, but the slaves are also tattooed to show their purpose (fishing slaves have fish tattoos, guard slaves have tiger stripe tattoos, etc).