Skip to main content

Documentation Index

Fetch the complete documentation index at: https://docs.vela.monolithsystematic.com/llms.txt

Use this file to discover all available pages before exploring further.

​
v0.2.0 — April 2026

​
Phase 2 — Production Engine

  • Parallel signature verification (100k+ ops/sec ceiling)
  • HFT rolling 20-window nonce scheme (20 concurrent in-flight orders)
  • Client order IDs with cancel-by-client-id
  • Copy-on-Write delta buffer (atomic FOK/IOC, 841ns rollback)
  • Batched response sending
  • Auto-cancel on credit ratio breach
  • Configurable maker/taker fees (−1 bps maker rebate, 5 bps taker)
  • DA layer (content-addressed fill storage, /orders/:id/da-proof)
  • Depth-32 sparse Merkle tree with O(dirty×32) root recompute
  • Forced inclusion / delayed inbox (/force-include)

​
Phase 3 — Mainnet Readiness

  • ERC20 on-chain deposits (USDC two-step approve then deposit)
  • Real OHLCV candlestick data from trade history (LIVE/SIMULATED badge)
  • Full WebSocket real-time feeds (orderbook, trades, markets, account)
  • Private L3 account feeds with signature authentication
  • 16 spot markets (added PEPE, WIF, JUP, PENDLE, EIGEN)
  • Referral program (20% taker fee split, 90 days)
  • Trading leaderboard (/leaderboard)
  • Comprehensive benchmark suite (8 criterion benchmarks)

​
Performance (v0.2.0)

MetricResult
Match latency (p50)1.38 μs
Throughput725k ops/sec
vs. Pulse baseline5.8× faster
Tests passing142+

​
v0.1.0 — April 2026

Initial public beta. Core exchange, transparency layer, ETH settlement, 11 markets, MM bot, white paper.

​
Exchange

  • 11 spot markets: BTC, ETH, SOL, AVAX, MATIC, LINK, UNI, ARB, OP, AAVE, DOGE (all vs USDC)
  • Central limit order book with price-time priority matching
  • Order types: Limit GTC, IOC, FOK, Post-Only
  • Wallet-signed orders and cancellations (MetaMask via personal_sign)
  • Live order books — CoinGecko price feeds update every 60 seconds

​
On-Chain Settlement

  • VelaSettlement smart contract deployed to Ethereum Sepolia
  • Contract: 0xAa8E680c11a883F9bf6eb980B2D4E9D18DD25686
  • On-chain ETH deposits via depositETH() payable function
  • Operator-signed on-chain ETH withdrawals
  • 7-day emergency exit timelock for trustless fund recovery

​
Infrastructure

  • Rust matching engine on fly.io (sjc region)
  • Persistent state via 1GB fly.io volume — snapshots every 60 seconds
  • Rate limiting: 20 orders/min, 5 deposits/min per wallet
  • Input validation with overflow protection
  • Admin state endpoint with token authentication

​
Performance (v0.1.0)

  • 1.08μs p50 match latency
  • 57.3k ops/sec
  • 4.7× faster than Pulse (leading open-source DEX engine)
  • 73/73 tests passing