Vela Exchange is a decentralised perpetual trading platform on Arbitrum that allows you to trade a wide range of popular tokens and national currencies with up to 20x leverage.
The platform is still in public beta and has confirmed there’ll be an airdrop of VELA tokens to public beta testers of the platform.
The amount of the airdrop and how it’ll be distributed have not been revealed yet, but it is expected to be rewarding for active users, especially high-volume traders.
In this post, I will be showing you how to participate in the Vela Exchange airdrop and position yourself for a sizeable airdrop.
How to participate in the Vela Exchange airdrop
1. Trade on Vela Exchange
Most of the VELA token airdrop will be going to traders on the Exchange. So, it makes sense for you to generate as much volume on the exchange as you can.
You can trade as you normally would and hope for the best, or you can get aggressive and trade with high leverage to rack up volume fast.
I suspect the airdrop traders who’ve been on the platform for a long with consistent and reasonable volume.
Regardless, you’ll get as much VELA airdrop as you deserve based on your trading volume, so go for it.
2. Mint and stake VLP
VLP is the liquidity provider token on Vela Exchange. You can mint VLP by depositing USDC, which is used as liquidity on the platform.
Then stake your VLP to earn eVELA rewards which you can redeem for VELA over a 6 months period after claiming.
VLP stakers earn 10% of the total perpetual trading fees generated on the Vela Exchange, paid in esVELA.
3. Stake VELA
You can stake VELA on the platform to earn both USDC and eVELA rewards.
And you can redeem your eVELA rewards for VELA over a 6 months period after claiming it.
Learn more about Vela Exchange
Do your own research and learn everything you can about Vela Exchange on its various social media channels.
Conclusion
Vela Exchange is a decentralised perpetual trading platform for crypto and forex with a confirmed airdrop and reward for beta testers.