What is Vela Exchange?
Vela Exchange is a decentralized perpetuals trading platform designed to offer a wide range of synthetic assets with a focus on providing excellent customer support and community-first initiatives. Built on the high-performance Layer-2 network Arbitrum, Vela Exchange aims to overcome common issues found in decentralized exchanges (DEXs) such as high execution costs, low performance, front-running, and slippage.
Vela Exchange integrates features from both decentralized and centralized exchanges, allowing users to trade popular cryptocurrencies with isolated margin, which limits collateral liability to the user's position in a given trade. This approach enhances the safety and responsibility of trading operations on the platform.
Key features include perpetual trading and leverage options up to 30x on supported tokens, synthetic assets for flexible and diverse trading, and community-focused rewards through trading competitions and referral programs. Users maintain self-custody of their assets, eliminating the need for centralized intermediaries and enhancing security.
Governance on Vela Exchange is conducted through the $VELA and escrowed VELA (eVELA) tokens. These tokens can be staked to earn protocol rewards and participate in the platform's governance, ensuring a decentralized and community-driven decision-making process. Vela Exchange continues to expand its asset range and improve its trading features based on user feedback, positioning itself as a next-generation platform in the DeFi space.