Vela Exchange has launched a public beta of its spot and perpetual contracts trading platform on Arbitrum. The protocol is now open to all users.
Vela is a self-hosted decentralized exchange. Vela provides traders with the ability to trade with up to 100x leverage on forex and up to 30x leverage on cryptocurrencies, and offers rewards to liquidity providers and traders.
$VELA tokens have been issued and will be airdropped for testers.
Vela's initial beta began on January 31st as early access for OG. On February 3rd and 7th, the 2nd and 3rd rounds of early access were held. On February 9th, the beta was opened to everyone. On February 14th, the Super VLP program ended.
VLP is a liquidity provider token provided by Vela. By minting VLP and staking, users can earn a share of the platform's fees. 60% of the protocol fees are distributed to VLP holders and stakers. The Super VLP Rewards Program is a limited-time reward program for early VLP minters. A total of 2.5 million $VELA tokens will be rewarded through this program in a tiered system based on the minting time of VLP.
