Vela Exchange is a DEX on Arbitrum that offers perpetual trading with up to 100x leverage while boasting a community-focused and scalable approach. The protocol was co-founded in 2023 by Travis Skweres and Dan Peng, both of whom are former Boston Consulting Group employees.
To start, users need to deposit stablecoins such as USDC into the Vela Exchange, then enjoy a host of trading products such as:
- Synthetic trading for cryptocurrency, forex, and market cap with up to 100x leverage;
- Limit order, trailing order, stop-loss order, and trailing-stop order;
- Alerts and notifications sent as SMS, email, or push notifications on mobile devices;
- Referral program with up to 20% share of all referred users’ generated fees;
- Fiat on-ramps and off-ramps.
VELA is the primary native token of the Vela Exchange. It can be used to receive trading fee discounts, stake to earn a share of fees collected on the exchange and eVELA tokens as rewards from buyback.
Apart from VELA, there is VLP, the liquidity provider token for Vela Exchange. Anyone can get VLP by staking USDC into the platform. VLP can be staked to earn a portion of trading fees generated on Vela in the form of eVELA tokens.
eVELA tokens can be staked to generate yields like VELA (they have the same reward structure), or locked to earn VELA tokens.
VELA’s total supply: 50,000,000
VELA’s circulating supply: 5,622,344
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