Vela Exchange
Trade Tokens and NFTs Peer-To-Peer Across Any Chain.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
N/A | Seed | ||
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
Related Content
Vela Exchange operates as a decentralized perpetuals trading platform built on the Arbitrum network, which facilitates fast and low-cost transactions. Founded in 2021 by Travis Skweres and Dan Peng, the Dallas-based company was formerly known as Dexpools, an over-the-counter (OTC) trading protocol, before relaunching in October 2022 to focus on perpetual contracts and spot trading. The founders, who previously worked together at Boston Consulting Group, bring extensive experience from the technology and consulting sectors. Skweres, in particular, has been involved in the cryptocurrency space since 2012 and founded Portal Finance, which was later acquired by Coinbase.
The platform allows users to trade a variety of synthetic assets, including cryptocurrencies, foreign exchange (forex), and market capitalization pairs, with leverage of up to 250x. It is designed as a permissionless, self-custody exchange, ensuring users maintain full control over their assets without needing a central intermediary. To begin trading, users deposit USDC as collateral, which is held in a secure vault to back leveraged positions. The business model generates revenue from handling fees on transactions, which are 0.08% for crypto and 0.01% for forex. A portion of these fees is distributed to stakeholders within the ecosystem, including liquidity providers and those who stake the platform's native token, VELA.
Vela Exchange offers several products, including a perpetual exchange, a spot exchange operating on an order book model, and a peer-to-peer (P2P) OTC platform that supports any EVM-compatible blockchain. Key features include one-click trading, advanced position management tools like trailing stops, and multi-chain deposits that allow users to swap tokens from different chains into USDC within the platform. The native utility token, VELA, can be staked to receive a share of platform fees and obtain discounts on trading fees. The platform also utilizes VLP, a liquidity provider token, which users receive for staking USDC to provide liquidity for traders.
Keywords: decentralized exchange, perpetual contracts, Arbitrum, crypto trading, forex trading, Travis Skweres, Dan Peng, self-custody, leveraged trading, VELA token, VLP token, decentralized finance, DeFi, spot trading, OTC trading, order book, multi-chain deposits, blockchain, cryptocurrency, synthetic assets