• Vela Exchange’s DXP utility token has surged in the past 24 hours with its price more than doubling since Wednesday morning.
• The rally is ahead of the widely anticipated release of Vela’s beta version on Arbitrum, which is set to launch on Jan. 31 for registered testers and will be available for the broader public on Feb. 7.
• Vela is an Arbitrum-based decentralized trading platform which allows for spot and perpetual futures trading, as well as peer-to-peer over-the-counter (OTC) trading.
The cryptocurrency industry has been abuzz in recent days with traders betting that Vela Exchange’s DXP utility token can take a share of the growing decentralized exchange (DEX) activity on Arbitrum. The DXP token has surged in the past 24 hours, with its price more than doubling since Wednesday morning. This rally is due to the upcoming release of Vela’s widely anticipated beta version on Arbitrum, which is set to launch on Jan. 31 for registered testers and will be available for the broader public on Feb. 7.
Vela is an Arbitrum-based decentralized trading platform which allows for spot and perpetual futures trading, as well as peer-to-peer over-the-counter (OTC) trading. This means that traders can avoid slippage and frontrunning when executing orders on the platform. The project was originally known as Dexpools on Ethereum before migrating development to Arbitrum, an Ethereum layer 2 blockchain.
The platform will also feature a low latency matching engine, which enables traders to maximize their profits by taking advantage of market movements. This is due to the fact that the platform is powered by a hybrid architecture which combines the power of on-chain and off-chain matching engines. Additionally, Vela will offer an extensive range of order types and trading tools to help traders make informed trading decisions.
Moreover, Vela is committed to providing a secure trading environment by leveraging cutting-edge security protocols and an advanced KYC/AML system. This means that users will have peace of mind when trading on the platform, as it is designed to protect users from malicious actors.
All in all, Vela Exchange is set to become a key player in the DEX space due to its innovative features, low latency matching engine, and robust security protocols. With the launch of its beta version next week, the project is poised to revolutionize the trading experience for users around the world.