Vela Token(VELA) Vela V2 Release

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Vela V2 drops on July 8th Get ready for upgraded tokenomics, Grand Prix Season 3, and killer VLP yields with AAVE integration. Experience a sleek new UI, easy CSV exports, and a real-time chatbox like the good old days.

Vela V2 marks a significant leap forward in the Vela infrastructure, introducing powerful new capabilities for traders, liquidity providers, and other users.

This upgrade not only enhances the Vela ecosystem but also extends support to our partners, starting with L3X — a Layer 3 solution launching its own perpetual DEX powered by Vela technology.

What will Vela V2 include and when is it coming?

Tokenomics Enhancements

One of the key highlights of Vela V2 is the enhancement in tokenomics. Users will now be able to lock VELA for esVELA directly on our app, rather than just on the contract.

This simplifies the process and adds more flexibility. Additionally, the vesting period for esVELA is significantly reduced from 12 months to 6 months, offering users a chance to vest quicker if they choose.

For example, if a user decides to vest 100 esVELA over 30 days instead of the standard 180 days, they will receive 33 VELA at the end of the period, sacrificing 66 VELA. This flexible vesting option allows for better liquidity management and quicker access to VELA tokens.

Moreover, during the transition phase, 15% of platform rewards will be directed exclusively to esVELA stakers.

Users will also be able to convert their VELA to esVELA with a 5% bonus, ensuring that the potential loss from early vesting redemption is not greater than the initial bonus.

Governance Voting

For the first time, Vela V2 will introduce governance, with esVELA and VELA holders gaining the ability to vote on governance proposals.

This gives users more influence over the platform's development and future direction. However, it's important to note that vesting esVELA will not have voting rights or be able to collect staking rewards.

Staking Page Simplification

Staking page will feature three options to enhance user engagement and flexibility:

VLP for minting, redeeming, staking, and unstaking.
esVELA for minting, vesting, staking, and unstaking.
VELA-ETH for providing liquidity to the Nitro Pool at Camelot or Ramses, complete with APR display and in-house contract calls.

VLP Integrations into AAVE

Since its official launch on June 28th, VLP has been performing exceptionally well in various market conditions, consistently delivering impressive yields to stablecoin LPs on Vela and empowering traders with robust liquidity.

Now, with the integration into AAVE, VLP will continue to excel in its core functions while adding approximately an additional 7.5% to VLP staking.

This integration enhances liquidity and offers improved yield opportunities for our users, making the yield even juicier and further solidifying VLP's position as a premier yield-producing asset in the DeFi space.