We are excited to announce that Dexpools has rebranded. As of today, Dexpools has relaunched as Vela.
This is a monumental change that we have been eager to share for several months now. This is the beginning of our new journey, one that is focused on bringing a more holistic and refined decentralized trading experience.
What Happened to Dexpools?
The reason for our rebrand stems from the fact that we have expanded our goals. When we created Dexpools, we were focused on building a streamlined tool– a platform that allowed people to make OTC trades relying on decentralized pools.
We still believe that building such protocols is deeply important and will support Dexpools P2P until it is transitioned into Vela P2P. However, the focus on other DeFi products including perpetuals and limit orders along with a much larger vision made us feel like we had outgrown the Dexpools name, and so we searched to find something that better aligned with our new direction.
We landed on the name Vela, which is a Latin word meaning “to set sail”. We found it to be both poetic and simplistic, as we view our platform as being the perfect vessel to help people efficiently navigate the crypto waters. To set sail is to embark on a journey; we wanted to tap into that feeling ourselves, as many people who begin trading often feel like it is the start of a new journey for them.
Our new name gives us the freedom to expand our roadmap to include a huge range of trading tools and ideas, as it no longer points purely towards decentralized pools. We feel this is necessary as we continue to shift our focus towards perpetual (and other broad horizons).
Not only is Vela a rebrand, but it is a signal that we are exploring bigger and more ambitious concepts within the crypto space. For instance, at the heart of Vela is the goal of becoming the first mainstream DeFi exchange to marry together CEX and DEX functionalities, providing the best of both worlds.
Not only this, but we are placing a greater emphasis on our user base. We are employing one of the most community-centric models in DeFi, where traders and liquidity providers are given the majority of fees as rewards. We are also ensuring that our APIs are both easy to use, and extremely fast as we understand the need for simple and efficient technologies in the blockchain industry.
Vela is a small team of highly talented and passionate individuals. Our project has received backing from a myriad of impressive advisors, VCs, and community members who all believe in the big vision. Like ourselves, they understand that we have already disrupted the decentralized OTC market, and they are eager to watch us do the same for the perpetuals market.
Getting Involved with Vela
If you want to start using Vela early, you can sign up to be an exclusive beta tester at vela.exchange. By beta testing, not only will you experience a highly sophisticated and next-gen exchange, but you will be helping us to refine our project and fulfill our goals.
We understand that many loyal members of our Dexpools user base hold our DXP tokens. Rest assured that these tokens are still important, as they will soon be able to be swapped 1:1 for our new Vela tokens. The claiming period will be indefinite, and more details on the claim process will be released soon.
What’s Next for Vela?
Stay tuned, as there is much more information to reveal about Vela coming soon. In the near-future, we will be revealing which chain Vela will be launching on, as well as more details about our tokenomics, and an official launch date for our perpetual platform.
There is a lot to look forward to. This new rebrand marks a huge event, both for our vision and of our ecosystem. Join us and let’s revolutionise DeFi.