Long or short anything with a price
Up to 10x on index ETFs, 5x on blue chips and crypto. Market, limit, stop-loss and take-profit orders, isolated or cross margin.
Open perpetualsOne view. A world of markets.
Stocks, ETFs, crypto and commodities. Perps, options, lending and borrowing on Solana, from one margin account.
- Markets in preview
- 20
- Asset classes
- 4
- Max leverage
- 10×
- Programs planned
- 25
Three products
One margin account. Every way to move.
Define the risk. Keep the upside
Cash-settled calls and puts with a live chain, Greeks and a strategy builder for spreads and straddles. The premium is your max loss.
Open optionsBorrow against your stocks
Lock tokenized shares as collateral and draw USDC up to a fixed loan-to-value limit. Interest accrues per block, the shares stay yours.
Open lending
The onchain standard
Prices from Pyth behind a staleness and deviation guard, margin in one vault, settlement by contracts anyone can read. Check every number yourself.
20 Markets live
SourceStocks, ETFs, crypto and commodities, each priced by an oracle and settled in USDC.
One margin account
Trade it, hedge it, see it first
Every product draws on the same USDC balance. Pick a market and try the numbers, priced live; nothing is signed.
Perpetuals
Set a side and a leverage and watch the outcome across prices. Oracle mark price, limit, stop and take-profit orders, cross or isolated margin.
Learn about perpsOptions
Pick a strike and see the payoff at expiry. Weekly and monthly expiries, Greeks on every strike and a strategy builder, settled in USDC.
Learn about optionsWall Street, the chain and the commodity pit
Every market settles in USDC against one vault. Switch from Nvidia to Bitcoin to gold without moving funds, bridging or opening another app.
Roadmap
Shipped in versions, each one on chain
The testnet runs every feature today. V1.0 opens mainnet the day VELA launches; the rest follows in stages, each checked before the next.
Ready to trade on VELA MARKETS?
Six modules · one vault · one oracle path
Press a block to list its contracts
Designed for Solana
25 programs. One connected system.
Six modules designed as upgradeable Solana programs. Explore the planned architecture.
All contracts · Solana Mainnet
VelaMarketRegistry
Lists every market (stocks, ETFs, crypto, commodities) and its parameters.
VelaVault
Holds trader collateral and settles every trade's PnL.
VelaCollateralManager
Keeps the ledger of what each account has deposited.
VelaFeeManager
Collects trading fees and routes a share to the buyback module.
VelaBuybackModule
Uses protocol revenue to buy back the protocol token.
VelaRiskManager
Sets each market's open-interest cap and leverage tiers.
VelaOracleRouter
Routes and validates the mark and index price every contract reads.
VelaPriceValidator
Rejects stale or out-of-bounds oracle prices before they're used.
VelaPerpsEngine
Executes leveraged long and short perpetual positions.
VelaPerpPositionManager
Stores perpetual positions; the perps engine is the only writer.
VelaFundingManager
Charges the side pushing price away from index, pays the other.
VelaLiquidationEngine
Lets anyone liquidate an eligible position for a reward.
VelaPerpOrderManager
Holds resting limit and trigger orders until they fill.
VelaOptionsEngine
Prices and settles cash-settled calls and puts.
VelaOptionMarket
Tracks each option series and its open interest.
VelaOptionPositionManager
Stores option positions; the options engine is the only writer.
VelaInsuranceFund
Covers a liquidated position's shortfall so bad debt stays rare.
VelaCrossMarginManager
Backs a cross position with the whole account, not just itself.
VelaSubaccountFactory
Creates subaccounts and limits what they're allowed to call.
VelaRFQManager
Lets a market maker quote a user's trade directly, off the order book.
VelaCompositeSanityOracle
Holds the collateral price the lending pair reads, with a staleness and jump check.
VelaCreditRegistry
Lists the lending pairs and their limits.
VelaCreditRouter
The entry point for supplying, borrowing and repaying.
VelaCreditVault
Holds the USDC that lenders supply and borrowers draw.
VelaCreditPair
Locks a stock token as collateral and lends USDC against it, with a liquidation limit.