Vela Exchange Announces Platform Shutdown
Vela Exchange Announces Platform Shutdown
馃弫 Vela's Final Lap
By Vela Exchange
Oct 28, 2024, 5:14 PM
Vela Exchange has announced the shutdown of its DeFi platform due to market conditions and slower user adoption. Key points:
- Platform will cease operations on October 31st
- New positions blocked as of October 24th, 2PM EST
- All open positions must be closed before October 31st
- VLP holders: 48-hour lock period, followed by fee-free withdrawals
- Company pivoting to technology licensing and white-label solutions
Users should close positions and withdraw funds immediately. VLP withdrawal fees drop to 0% on October 26th @ 2PM EST.
Dear Vela Fam, We want to take a moment to thank you for your trust and support in our platform. It has been an incredible journey, and we鈥檝e been proud to provide innovative DeFi solutions that meet the evolving needs of our users. We would like to announce that the current
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