🏆 The FTX story clearly showed the advantages of decentralized protocols and self-storage of assets. After the stock exchange crash, interest in wallets and decentralized exchanges grew. We have already written about one of the main beneficiaries of this situation - GMX. This post will introduce you to an ambitious low-cap, which is good on several points at once - a decentralized exchange in Arbitrum and 20 times cheaper than GMX.😗

#toptraders

Vela Exchange. The history of the project has been going on since 2021, so DYOR, but success in terms of attention and volume came after the fundamental decision to rebrand and move to Arbitrum.

🪙 Tokenomics.

VELA/esVELA is a utility token participating in staking. Profitability consists of 7 sources of rewards. Current APR is 15%. A buyback is provided for further distribution in the form of esVELA.

VLP is an LP token that, like GLP, acts as a market maker. The cost changes depending on the profitability of traders on the site. For staking VLP, users receive 10% of all commissions from margin trading.

Maximum VELA supply - 50 million.

The current supply is 10.8 million, of which 30% is reserved for the community. 8.7 million in free float, but 3.1 of them are staked.

Capitalization $27 million, and FDV - $160 million.

➡️In many ways the platform repeats its competitor. But with modifications:

🟢Trading both spot and with leverage up to 20x.

🟢Forex with leverage up to 50x. It is planned to add USDC/USD trading.

🟢OTC.

🟢Replenishment of balance with fiat.

🟢LP token consists entirely of USDC. It would be nice to dilute it with other stables.

🟢User incentive program. Airdrop? ⌨️

Beta ended after 3 months. Trading volume for this period amounted to $5.5 billion, and commissions amounted to $3.8 million. 51k traders attracted. Now the bidding is closed, an audit of the exposed vulnerabilities is being conducted before the full launch. We are looking at the solution to the problem and how the site will cope with the influx of users.

✅ We have been following VELA as a team since the end of last year. Participated in beta testing and staking. A promising project with the potential to be among the leaders in the DeFi segment at Arbitrum.