Vela Exchange is an Arbitrum-based decentralized exchange for perpetual futures contracts and spots.
Vela Exchange was formerly known as Dexpools, an OTC trading-only protocol. Since we aim to build a brighter future, the team relaunched to Vela Exchange in October 2022, keeping the OTC part but shifting the protocol to concentrate on the growing spot and derivatives trading.
The exchange is carefully developed to assure asset safety and transaction speed, and the project also provides for the future expansion of options and derivatives trading capabilities.
Simultaneously, Vela’s incentive system assures fair trade. As a consequence, the process of regulating token supply and incentives becomes more efficient. Moreover, this balance aids in maintaining preferred liquidity and trade provisioning levels.
At the same time, because the principal is completely composed of USDC, Vela Exchange can provide a wide range of trading targets. In theory, as long as the oracle machine supports and has a certain depth, it can be traded on it.
Currently, Vela Exchange provides three types of transactions: cryptocurrency (BTC, ETH, DOGE, SOL, MATIC, AVAX), foreign exchange (Euro, British Pound, Japanese Yen), and crypto market value (USDC total market value contract will be launched soon).
Although perpetual trading is the exchange’s initial offering, it is aimed at providing traders with a “reliable home” for trading cryptocurrencies and other items. Items with a high degree of leverage. This objective might be described as the ultimate goal that the Vela team strives to achieve. Vela Exchange Review article will continue to explore the project’s products.
Vela supports a wide range of assets, including cryptocurrency, forex, and market capitalization. Each asset class will have a distinct Funding Rate and Open Interest. When the liquidity pool expands, Vela will explore providing other currency pairings depending on community demand.
A USDC deposit is required to initiate a position in Vela when trading futures.
Vela’s overall trading volume has surpassed $4.7 billion since its inception.
This is a platform for exchanging, buying, and selling spot tokens operating under the orderbook model. Spot trading is relatively quick, and slippage is low.
The Peer-to-Peer direct token exchange platform is compatible with any EVM-enabled blockchain. This platform enables two persons to swap tokens directly, eliminating issues like as slippage and large transaction costs that AMMs face.
VLP is a token that is created from USDC and deposited by users to offer liquidity for Vela. Customers may withdraw USDC three days after making a deposit.
You may stake to earn from protocol income + VLP price difference if the trader loses transaction + eVela bonus when minting VLP.
Trade BTC, ETH, DOGE, and other cryptocurrencies with 30x leverage.
Forex Trading – Leverage up to 100x on EUR, GBP, and JPY
The profit of the protocol is derived from spot transaction fees and perpeptuals.
Vela Exchange offers a robust leveraged trading platform built on a hybrid of on-chain and off-chain architecture. An ideal pairing with cloud storage allows customers to maintain their own assets without losing speed or dependability.
Traders using Vela Exchange may open long or short bets with up to 100x leverage on certain asset classes in USD. The ecosystem’s unique vStream price feed store aggregates asset values based on predictive data sources.
Spot or triggered orders may be used to construct positions. At the same time, Vela will manage your holdings using the best risk management tactics available. Jobs established may have many orders connected with them. They will be activated efficiently by authorized traders.
Vela Exchange has a vault that is entirely backed by USDC stablecoin. To trade on Vela, you must first deposit a particular amount of USDC onto the platform. You may credit USD on the exchange while making a deposit. This sum will only appear in your account as dollars. As the trading platform grows, new stablecoins other than USDC may be introduced, making the stablecoin deposit procedure more versatile.
Traders may use a number of sophisticated trading methods established by Vela’s Triggers or Immediate. Risk management has never been simpler on a decentralized exchange, it may be argued. Among the notable characteristics are:
Vela has introduced Multi-chain Deposits. This tool enables users to easily and rapidly deposit, withdraw, trade tokens, and mint VLP on a variety of blockchains. Multi-chain Deposits is a collaboration between Vela, Axelar, and Squid that helps when users do not need to transfer money manually, reducing time and transaction costs.
This is a customized data price source that enables Vela Exchange to collect data from any permitted supplier, such as Chainlink, CEXs, or corporate data providers. After the Vela Exchange platform is finished, the development team will use the Vela Stream service to bring in additional data partners to generate price stability as well as new assets with trading demands.
Vela has collaborated with Transak to provide a fiat and cryptocurrency exchange interface directly on the exchange. Trading assets from real life to crypto and vice versa has become more straightforward and simple for traders.
API Endpoints may be used by Vela traders and partners to automate the trading process.
Traders may sign up for SMS or email notifications sent by Vela. Traders who activate alerts will get essential information about pricing or key data in a timely manner. All alerts are maintained by the secure servers of Vela Exchange and may be enabled at any moment.
Vela traders may earn excellent benefits by sharing platform referral links.
Vela Exchange also includes a nice, easy-to-use design that makes it simple for users to locate platform functionalities. The software also includes simple graphical tools and statistics charts for monitoring the pricing situation and fast-executing transactions.
In addition to concentrating on user-friendliness, the Vela team created a number of appealing trading campaigns to entice traders to trade on Vela.
The Vela Exchange ecosystem’s native token is the VELA token. VELA may be obtained by providing liquidity on supported DEXs. Moreover, holders may stake VELA to gain incentives on the site.
At the moment, Vela Exchange supports four kinds of tokens:
Users will earn a lower transaction cost while staking VELA and eVELA tokens into the platform. By staking 500-500,000 VELA or eVELA, the discount ratio will vary from 2% to 50%.
Vela Exchange charges a 0.1% handling fee for the opening/closing of crypto transactions (equivalent to GMX), and a 0.01% handling fee for foreign exchange transactions. You can get a 2%-50% handling fee discount by staking the platform token VELA.
Fee income is distributed in the following proportions:
In 2023:
In 2024:
Travis Skweres (Founder): Travis has been working in the Blockchain industry since 2012. He founded Portal Finance, which was bought by Coinbase. In addition, before founding Vela Exchange, Travis worked as a Principal Engineer at BCG, a prominent technology consulting firm with offices in 45 major cities.
Dan Peng (Co-Founder): Dan worked with Travis at BCG and also as a product manager at Heartstorm, a technology solutions and consulting company.
The recent expansion of the Arbitrum ecosystem, including the GMX flagship, as well as the shortcomings of CEX such as FTX, has warmed up Decentialized Perps Trading items.
Overall, Vela Exchange integrates various GMX techniques with centralized exchange services, offers spot, perpetual contracts, and OTC transactions, and facilitates cross-chain asset deposits.
Simultaneously, it may accommodate a broad variety of trade variations and target a wider range of user groups. Vela Exchange’s public beta is coming to an end. The official version will include more trading pairs, new functions, improved infrastructure, release incentives, and so on, according to the official announcement. It’s worth anticipating the follow-up performance. Hopefully, the Vela Exchange Review article has helped you gain more useful information about the project.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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