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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.

This roadmap tracks Vela’s development milestones from initial research through full trustless mainnet. Completed milestones are marked with their completion status; active and future milestones show planned scope.
The roadmap shows direction and priority — not a release schedule. No dates are promised for future milestones.

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Milestone Overview

MilestoneNameStatus
M1Research & FoundationComplete
M2Core EngineComplete
M3Premium FeaturesComplete
M4Benchmark and OSS ReleaseComplete
M5Vela UI and Public BetaComplete
M6Live TradingIn Progress
M7Institutional FeaturesPlanned

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M1 — Research & Foundation

Status: Complete
  • Literature review: existing CLOB designs (Serum, dYdX, Vertex, Pulse)
  • Architecture design: six-crate workspace, state model, DA strategy
  • Fixed-point arithmetic design and validation
  • White paper outline and research framework

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M2 — Core Engine

Status: Complete
  • types crate: all shared types, fixed-point math, serialization
  • engine crate: CLOB matching engine, GTC/IOC/FOK/Post-Only, price-time priority
  • state crate: MPT state layer, in-memory cache, deterministic root
  • api crate: HTTP handler (axum), WebSocket, ECDSA auth, feed manager
  • committer crate: async batch committer, LocalDaClient
  • zkvm crate: verify_execution(), FraudProof generation
  • Full test suite: 142+ tests passing

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M3 — Premium Features

Status: Complete
  • MM credit system with atomic auto-cancel
  • Private L3 authenticated WebSocket feeds
  • Forced inclusion (DelayedInbox) implementation in engine
  • Credit gauge and MM dashboard backend

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M4 — Benchmark and OSS Release

Status: Complete
  • Criterion.rs benchmark harness
  • Benchmark results: 1.38 μs p50, 725k ops/sec, 5.8× vs Pulse baseline
  • Open-source repository published: github.com/arpjw/vela
  • White paper published on SSRN (Abstract ID: 6579199)
  • Monolith Research, Vol. 2 released

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M5 — Vela UI and Public Beta

Status: Complete
  • Full-screen trading UI built on Next.js, deployed on Vercel
  • 16 live markets: BTC, ETH, SOL, AVAX, MATIC, LINK, UNI, ARB, OP, AAVE, DOGE, PEPE, WIF, JUP, PENDLE, EIGEN
  • Order book composition view with depth chart
  • Analytics panel: OFI, spread decomposition, VWAS, depth chart
  • MM dashboard: credit gauge, open orders table, P&L tracker, market summary
  • Trade history with CSV export
  • Engine deployed on fly.io, frontend on Vercel, domain on Cloudflare
  • Public beta launch

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M6 — Live Trading

Status: In Progress The M6 milestone transitions Vela from a trust-based beta to a system with on-chain deposit and withdrawal guarantees.

On-chain Deposit Contract

Solidity deposit contract deployed. Users call deposit() to lock funds in the contract. Engine observes Deposited events and credits accounts. Deposits are held by the contract, not the operator.

On-chain Withdrawal Settlement

Engine approves withdrawal requests and signs a message authorizing the contract to release funds. Users call withdraw() on the contract with the signed authorization. Funds transfer directly to the user’s wallet.

Forced Inclusion (DelayedInbox)

DelayedInbox.sol deployed on L1. Users can submit signed transactions directly. Engine must include forced transactions within 24 hours or face on-chain challenge. Prevents operator censorship.

Mainnet Deployment

Engine and contracts deployed to mainnet (Ethereum or L2). Real wallet deposits activated. Beta trust-based deposits migrated or wound down.

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M7 — Institutional Features

Status: Planned M7 completes the trustless architecture and adds institutional-grade features.

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On-chain Fraud Proof Verifier

Deploy a Solidity contract that:
  • Accepts fraud proof submissions from any party
  • Fetches batch data from the DA layer commitment
  • Re-executes the challenged request on-chain
  • Slashes the operator bond if fraud is confirmed
  • Halts new batch acceptance pending resolution

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Celestia / EigenDA Integration

Replace LocalDaClient with a production DA layer:
  • Public batch availability — anyone can download batches
  • Cryptographic availability proofs
  • DA-anchored fraud proof submissions

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HFT Nonce Scheme (VEL-10) — Shipped in v0.2.0

Rolling 20-window nonce scheme shipped in Phase 2. Supports 20 concurrent in-flight orders per account with no head-of-line blocking. See HFT Nonce Scheme.

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CoW Cache Delta Buffer (VEL-11) — Shipped in v0.2.0

Copy-on-Write delta buffer shipped in Phase 2. Atomic FOK/IOC correctness with 841ns rollback overhead. See Copy-on-Write Semantics.

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Additional Institutional Features

  • Custom credit ratio requests via dashboard
  • Sub-account support for institutional traders
  • Fix/binary protocol adapter for trading system integration
  • Co-location and dedicated engine instance options