Vela Exchange Announces Platform Shutdown

🏁 Vela's Final Lap

By Vela Exchange
Oct 28, 2024, 5:14 PM
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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.​

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