Vela Exchange Airdrop Guide

By participating in its beta version and earning points you can become eligible for the upcoming Vela Exchange airdrop.

 

Vela is a decentralized crypto exchange on Arbitrum ecosystem that allow traders to trade advanced perpetuals for both cryptocurrency and forex. You can trade Bitcoin, Ethereum, Dogecoin and also also forex. There are 3 forex pairs you can trade right now: EUR-USD, GBP-USD, JPY-USD. The platform offers upto 100x leverage on its forex pair, and upto 30x leverage for crypto.

 

Apart from Crypto and Forex, the platform also plans to offer another unique asset, Market Capitalization, in the future.

 

Vela Exchange Airdrop: Something You Need to Know

Almost until January of 2023, only the token for Vela was live. But now even the beta version of the exchange is now open. While they went into the beta phase on January 31st, 2023, the date for the authorised launch is not yet disclosed. However, once it officially launches, we can witness the protocol unlock infinite potential.

 

This is what the Vela team published as it opened this phase:

 

“Our beta program is officially live on Arbitrum. It includes access to trading, staking, and a range of exclusive beta incentives that are available throughout the beta testing period. Don’t miss out on this limited-time opportunity! Connect your wallet now to gain access to the Vela Exchange platform.”

 

The speculation so far is that the users who will regularly participate in the beta program will potentially receive the airdrop of the DXP token. DXP is Vela Exchange’s utility token and had ascended a strong rally as the project was on its way to release its much-expected beta version a week after.

 

According to a report by CoinDesk on January 28, 2023, DXP’s price had gained around 50% in a span of mere 24 hours and its value had become more than double since trading below $1 before that. Currently (27th February 2023), DXP is priced at around 6.4 dollars.

 

It has a Circulating Supply of 8,047,843, market cap of 51,806,323USD, and a FDV of 643,729,281USD.

 

GMX’s market cap is 637,672,849USD, which means for DXP to touch GMX’s market cap, it needs to do 10x.

 

Similarly, GNS’s market cap is 256,137,761USD, and for DXP to touch GNS’s market cap, it needs to do a 5x.

 

So, now you know it has potential.

 

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Conclusion

Vela exchange has been making waves in the market and are touted to be successful in the future. By participating in its beta version and earning points you can become eligible for their upcoming DXP airdrop.

 

If you missed GMX, GNS, you should not miss Vela. Airdrops can be a wonderful way in which you can benefit from the growth and profits of the protocols by investing a large amount of capital.

 

However, as we always say, DYOR is the most important thing in cryptocurrency. Don’t make any financial decision without sufficient knowledge. Nonetheless, it will certainly be fascinating to see where these projects go in the time to come.

 

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