Vela Exchange Coin Review : Is It Good Or Bad Coin Read Our Article

About Vela Exchange Coin

Vela Exchange Coin is a permissionless, self-custody driven perpetual exchange built with innovative blockchain architecture to ensure fast transactions, secure trading, and extensibility into additional synthetic options and derivatives. The rewards structure of Vela Exchange is carefully balanced to manage token & rewards supply while maintaining high incentives for liquidity provisioning and trading.

While perpetual trading is the first product of Vela Exchange, the long term vision of Vela Exchange is to provide traders with a home base complete with everything they need to trade crypto assets and leveraged products. This vision is always in motion at Vela Exchange and is an essential part of the Vela team’s ethos as they continue building in the cryptocurrency ecosystem.

Vela Exchange Coin Point Table

Tokens Rewards

Up to 75K op the revenue generated by the platporm will be used to reward stakers op VELA, eVELA and VLP as well as por liquidity providers via minting VLP. All rewards will be distributed in both USDC and eVELA. eVELA rewards are punded by using a portion op VELA buybacks, not by minting new tokens.

VLP

Traders may mint VLP tokens to back leveraged trades within the platform. By minting VLP, stablecoins are deposited into the perpetual trading vault for traders to borrow from for their leveraged positions. The value of the vault is represented through the cumulative total of all minted VLP tokens that have not been redeemed. By holding VLP, users share 50% of the total fees generated by the perpetual exchange in USDC.

VELA Buyback Model

Another mechanism to stabilize supply of VELA is a unique VELA buyback model. Up to 20% of the generated perps fees (including fees for opening/closing a position, staking VLP, and net funding fees) will be used to buyback VELA on the open market. Buybacks will be made strategically and occur over 2 weeks periods. To give an example of projected buyback values, a total of $200,000 will be dedicated towards VELA buybacks for every $1 mill in perpetual generated fees.

All the VELA bought back from the market will be periodically loaded onto the staking contracts and an equal amount of eVELA is minted. This eVELA is emitted as rewards for stakers of VELA, eVELA and VLP. This means no additional VELA will need to be minted to maintain this rewards structure.

Rates and Fee Structures

Trading Fees

The fees for the perpetual exchange will be a flat 0.08% for both opening and closing a position.

Fee Discounts

Your staked VELA + eVELA has the utility of earning discounts on fees. The table below shows the number of staked tokens required at any given time to achieve the corresponding discount % on the fees of perpetual platforms.

Why Choose Vela Exchange Coin?

Collateral Management

Vela Exchange has a vault that is entirely backed by the USDC stablecoin, and when trading on Vela you must deposit USDC into the platform. Upon depositing, you are credited USD on the exchange, which simply shows as dollars in your account. The purpose of this method is to allow for flexible stable coin deposits as the trading platform expands, and possibly add additional stables beyond USDC in the future.

Vela Stream Price Feeds

Custom price feeds allow Vela Exchange to extract data from any approved provider, including oracles like Chainlink, CEXs, and enterprise data providers. As the Vela Exchange platform matures, they expect to leverage the vStream service to continue to onboard additional data partners to promote stability of prices as well as new, indemand assets for trading.

API Endpoints

Vela traders and partners may utilize Vela Exchange API endpoints to automate trading workflows. See more about your API endpoints in our Gitbook.

Alerts and Notifications

Traders have the advantage of subscribing to SMS or email notifications triggered by Vela Exchange. In-app notifications also give traders real-time awareness of triggers, liquidations, price updates, and other important data. All notifications are managed by Vela Exchange’s secured servers and may be enabled or disabled at any time.

Referral Management

Vela Exchange traders may choose to share unique referral links to their networks to obtain benefits. Currently, Vela Exchange referrals will provide a share (up to 20%) of all generated fees back to the referrer. Additional benefits are planned to layer on additional value for network referrals.

Where Can You Buy Vela Exchange Coin?

Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Uniswap (V3) (Arbitrum), As It Has The Highest VELA/WETH. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include VELA/WETH And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

Market Screenshot

Vela Exchange Coin Supported Wallet

Several Browser And Mobile App Based Wallets Support Vela Exchange Coin. Here Is Example Of Wallet Which Vela Exchange Coin – Trust Wallet For Hardware Ledger Nano.

FAQ Of Vela Exchange Coin