Vela is a central limit order book (CLOB) spot exchange that combines the speed of a centralized exchange with the verifiability of a blockchain system. Every trade is cryptographically signed, every match is deterministic, and every batch of state transitions is provable.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.
The Problem
The exchange landscape today forces a hard choice: Centralized exchanges (CEXes) like Binance and Coinbase are fast — microsecond matching, deep liquidity, professional tooling. But they are opaque. You trust the exchange with your funds, your orders, and your trade history. There is no way to verify that the engine is running fairly, that your orders were processed in order, or that the exchange isn’t front-running its own users. Decentralized exchanges (DEXes) like Uniswap and dYdX are transparent — every swap is on-chain and verifiable. But they are slow, expensive, and limited. AMMs don’t support limit orders. On-chain CLOBs can’t match CEX latency.Vela’s Solution
Vela runs a high-performance matching engine off-chain while keeping a cryptographic audit trail of every trade on-chain. Users get:- CEX speed — 1.38μs p50 match latency, 725k ops/sec
- DEX transparency — every order is wallet-signed, every batch is provable via optimistic-ZK fraud proofs
- On-chain settlement — funds held in a smart contract, withdrawals verifiable on Ethereum
Engine Features
- Parallel signature verification (100k+ ops/sec ceiling)
- HFT rolling 20-window nonce scheme for 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 with content-addressed fill storage
- Depth-32 sparse Merkle tree
- Full WebSocket real-time feeds (orderbook, trades, markets, account)
- 16 spot markets
- 142+ tests passing
Current Status
Vela is in public beta on Ethereum Sepolia testnet.| Feature | Status |
|---|---|
| Spot trading (16 markets) | ✓ Live |
| Wallet-signed orders | ✓ Live |
| On-chain ETH deposits/withdrawals | ✓ Live (Sepolia) |
| On-chain USDC deposits | ✓ Live (Sepolia) |
| Trust-based ERC20 deposits | ✓ Live (beta) |
| Live order books (CoinGecko) | ✓ Live |
| Real OHLCV candlestick data | ✓ Live |
| Full WebSocket real-time feeds | ✓ Live |
| Referral program | ✓ Live |
| Trading leaderboard | ✓ Live |
| Persistent engine state | ✓ Live |
| Mainnet deployment | Coming soon |
Access Vela
- Exchange: vela.monolithsystematic.com
- White paper: ssrn.com/abstract=6579199
- GitHub: github.com/arpjw/vela
- Contract:
0xAa8E680c11a883F9bf6eb980B2D4E9D18DD25686(Sepolia)