Vela Exchange Ends Beta Early Due to VLP Price Issue

Arbitrum-based perpetual DEX Vela Exchange announced that the Beta version had ended early, because the team found that the price of VLP was inaccurate after reviewing the VLP calculation with analytics partners and internal developers.

Currently, VLP mint and redeem is frozen, and refunds have started processing. Meanwhile, trading is frozen as well, and trader collateral will be refunded. Vela Exchange said that the priority is to make sure traders and VLP minters are compensated. It's expected that all refunds will be processed within 48 hours.

Next, the Vela Exchange team will focus on the official launch. The official version will have new features including 1-click trading, analytics, and on-chart functionality, as well as new incentive programs.