Are you excited about the upcoming Vela Exchange ($VELA) token airdrop? We definitely are! As a digital asset trading platform, Vela Exchange caters to both institutional and retail investors, providing a secure, reliable, and efficient trading experience built on the Arbitrum network.
In this article, we will provide a comprehensive guide on how you can participate in the Vela Exchange token airdrop and maximize your rewards. From connecting your wallet to staking or vesting VELA, VLP or eVELA, we have got you covered.
What is Vela Exchange and the $VELA token?
Founded by Travis Skweres and Dan Peng, both formerly of Boston Consulting Group (BCG), Vela Exchange is a platform offering spot and perpetual trading, as well as a decentralized peer-to-peer over-the-counter (OTC) trading platform. The Vela Exchange ($VELA) token is its native token. As a $VELA holder and staker, you will be entitled to discounted trading fees, as well as receiving $eVELA and other rewards.
How to receive the Vela Exchange ($VELA) token airdrop?
Are you ready to participate in the Vela Exchange ($VELA) token airdrop? Here is your ultimate guide to maximize your rewards.
Step 1: Sign up for Vela Exchange and connect your wallet
To participate in the Vela Exchange ($VELA) token airdrop, you need to sign up for Vela Exchange and connect your wallet. Click “Connect Account” on the top right-hand corner of the page and remember to change to the Arbitrum network.
Step 2: Interact with Vela Exchange by depositing tokens or trading
To maximize your rewards, interact with Vela Exchange by depositing tokens or trading. Vela Exchange has hinted on Twitter that maximizing your trading volume on their platform is key to receiving a max airdrop. Also, testing the trading experience on Vela is heavily weighted when considering eligibility for an airdrop.
Here is how to trade on Vela Exchange:
Go to Vela Exchange and connect your wallet. Remember to switch to the Arbitrum network. Deposit USDC to your Vela wallet. Currently, Vela Exchange only accepts USDC. Start trading! You can choose to long/short any trading pair. Vela Exchange currently supports $BTC, $ETH, $DOGE, $SOL, $MATIC and $AVAX.
Step 3: Participate in Vela Exchange flash trading contests
Vela Exchange has announced that participating in their flash trading contests could give you extra airdrops. Round 2 of the Flash Competition will begin soon, and the main event will be the Grand Beta Trading Competition, which promises to offer major prizes.
Step 4: Stake or vest VELA, VLP or eVELA for maximum $VELA token airdrops
Staking or vesting VELA, VLP or eVELA could give you additional $VELA airdrop rewards. Click the “Stake” page on the top, mint VLP tokens using USDC, or purchase VLP. Then, on the same page, stake your VLP. You can also stake your VELA to earn eVELA or stake eVELA to earn more eVELA. You can also vest your eVELA to earn VELA.
Step 5: Refer your friends to participate in Vela Exchange
Want to earn more $VELA token airdrops? Refer your friends to participate in Vela Exchange and receive rewards. This is a win-win situation, as your friends can also benefit from participating in the Vela Exchange token airdrop.
How to claim Vela Exchange’s Beta NFT?
Vela Exchange has announced that those who hold at least 50 $VELA and are in the top 2500 in trading volume on the exchange will be eligible to get the Vela NFT. There will only be 2500 NFTs available to mint on a first-come, first-served basis. The details on how to mint the NFTs will be released by Vela next week.
This is the third official Vela NFT, and the team has hinted that those who collect all four of Vela’s NFTs will get something special. Who knows? Vela NFT holders may be entitled to more $VELA token airdrops.
What else to know about the Vela Exchange token airdrop?
Vela Exchange is currently in the beta phase and launch countdown, which will last until early May 2023. Vela’s mainnet launch will be in May 2023, so this is your last month to test out the beta and position yourself for the airdrop.
According to the Vela Whitepaper, 10% of the $VELA token supply (limited to 2% per fiscal year) will be reserved for marketing rewards, including airdrops. Vela has not announced how you can become an eligible beta tester yet, but the team promises to give beta testers a chance to qualify for a participation NFT and airdrop.
When reviewing an airdrop, it is important to consider several factors, such as the likelihood of an airdrop, the number of tokens allocated towards airdrop campaigns, the difficulty of participating in the airdrop, the token utility, and any lockup period. Vela Exchange has confirmed it will be doing an airdrop in the coming months, allocating 10% of the $VELA supply towards marketing rewards. The difficulty of the Vela Exchange token airdrop lies in the fact that you will need to trade on the exchange using your own funds, but the utility of the $VELA token, such as discounted trading fees, makes it worth participating in.
The Vela Exchange token airdrop is an exciting opportunity for crypto enthusiasts to earn rewards by participating in the platform’s beta phase. By following the steps outlined in this guide, you can maximize your rewards and potentially receive more $VELA token airdrops in the future. Don’t miss out on this chance to join the Vela Exchange community and be a part of the future of digital asset trading.