The Hyper VLP program during the Vela Exchange Beta was a great success, incentivizing early liquidity providers with strong rewards and kickstarting the economics behind leveraged trading.
However, Hyper VLP paused after the closing of our Beta, allowing us to enhance the infrastructure of the program and open the doors to new participants.
The output?
Hyper VLP 2.0 will allow previous Hyper VLP participants during Beta to come back at exactly the same tier they minted and HELD at. Only minters who had remaining Hyper VLP amounts during the Beta close qualify to reclaim their previous tier allocation.
New participants that did not have the opportunity to participate in the previous Hyper VLP program will be able to guarantee their allocation into an extended tier system. Previous Hyper VLP participants may also participate in this tier by utilizing a separate wallet.
If you minted and held Hyper VLP during Beta
If you minted and held VLP during Hyper VLP Beta, you will have a chance to provide the same liquidity within 2 weeks grace period and continue earning the VELA rewards.Your reward tier will remain the same as beta period.
Attention: If you miss the grace period, you will not be able to take advantage of Hyper rewards going forward.
Other details:
- Allocation is limited to the Hyper VLP you were holding during the shutdown of the beta.
- Any more liquidity provided will be counted as regular VLP.
- If you are a Hyper VLP beta contributor, you may not extend your Hyper VLP allocation without creating another wallet.
Hyper VLP 2.0 Extensions
In addition to the original reserved amounts for Hyper VLP Beta, Hyper VLP 2.0 will reward the first 30M VLP minted (excluding the Hyper VLP Beta holders) with BONUS esVELA over a 12 month period.
Hyper VLP 2.0 Tiers:
Tier 1: 2M VLP → 0.06 esVELA per VLP
Tier 2: 4M VLP → 0.05 esVELA per VLP
Tier 3: 6M VLP → 0.04 esVELA per VLP
Tier 4: 8M VLP → 0.03 esVELA per VLP
Tier 5: 10M VLP → 0.02 esVELA per VLP
VLP price will start at 1 USDC (≈$1)
The extension will consist of 5 different reward Tiers, with the earlier liquidity providers gaining access to higher reward Tiers.
Similar to our BETA, our Official Launch will have gated access based on 3 stages, early access 1, early access 2 and public. During these stages, users can access both Hyper VLP 2.0 minting and trading live.
- Early Access 1 (2 days): BETA VLP holders*, who were holding more than 100 VLP when the BETA closed down.
- Early Access 2 (2 days): Lucky winners of the early access sign-up.
- Public(14 days)
(*)If you held more than 100 VLP during the closing of BETA, you will have a guaranteed spot in Early Access 1 for the Official Launch. You will not only be able to mint Hyper VLP 2.0 before anyone else but also start trading on our platform ahead of everyone.
