# Vela Public Beta is Live

By [vdobatovkin](https://paragraph.com/@vdobatovkin) · 2023-02-17

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[Vela Exchange](https://www.vela.exchange/) is a permissionless, self-custody driven perpetual exchange built with innovative blockchain architecture to ensure fast transactions, secure trading, and extensibility into additional synthetic options and derivatives. The rewards structure of Vela Exchange is carefully balanced to manage token & rewards supply while maintaining high incentives for liquidity provisioning and trading.

How to use Vela Exchange?
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Navigate to the [app.vela.exchage](https://app.vela.exchange/) and switch your network for Arbitrum

![](https://storage.googleapis.com/papyrus_images/77aa2266adc7529f9e5b8cedd3f0ca18260b4ec35cb28eac1f2154e602cc110a.png)

After that it will bring you to the main page where you can see your Portfolio, Standard Assets, Trading History, Navigation Menu and Social Links

![](https://storage.googleapis.com/papyrus_images/2e51e4bccc474a0c1f97ecf7279955938ff549a594ce2f510a75334585548aa3.png)

In order to start deposit some USDC(other will be available soon) using Deposit button

![Deposit at least 5$ - this is the min collateral](https://storage.googleapis.com/papyrus_images/4fc861cac4bbb98fef6202ff8736cc834b6174de3b1d20469b46cf7d3865e2df.png)

Deposit at least 5$ - this is the min collateral

Let’s jump into the Trade Tab and see what options are available there:

*   Choose the trading Pair first
    
*   Choose Long or Short
    
*   Set the collateral(min 5$)
    
*   Choose the leverage(up to 30x for crypto, up to 100x for other markets)
    
*   Open the position
    

![Be careful with high leverage due to high risk of liquadation](https://storage.googleapis.com/papyrus_images/4ac0f8022c5cb5eab361725fd164a11507afd2b5b1e08cd8f8a54cb52be1425b.png)

Be careful with high leverage due to high risk of liquadation

Now let’s see what we can do on the Stake Tab:

*   At the VLP tab you can Mint or Redeem VRP
    
*   Stake to earn VLP rewards or Unstake if needed
    

![](https://storage.googleapis.com/papyrus_images/562254e4d0eaf33c53c9f848436437e895ef750cd8a70fe79ddd77f829305ec5.png)

*   At the Vela - eVela tab you can Buy Vela, Stake/Unstake to earn additional rewards
    

![](https://storage.googleapis.com/papyrus_images/62958d83a4e8811197c35ceadeb889925e29e0344f4bcb9a3c26a75b1552b2f6.png)

Another important Tab is Account where you can check your Account information, deposit, withdraw, cash in or cash out money.

![](https://storage.googleapis.com/papyrus_images/dea333578a0a8ef577945e3bfb0ae041b6ae6cd0aee81d2ffd7fa07ac9f4780b.png)

Also check NFT forge Tab where you can Explore Vela existing or upcoming NFT’s

![](https://storage.googleapis.com/papyrus_images/ba92ce9ddfbfe6733491b8a67c5f2ac25309052cad1186fcc33e67b4d0b95c48.png)

Check the Leaderboard to see where you stack against the best

![Available for 24h, 7 days and 1 month](https://storage.googleapis.com/papyrus_images/d0aa4474dfb8af29ff41eed54ad9ed876067a55d7a66fc4f9d395c30cbaf9664.png)

Available for 24h, 7 days and 1 month

You can also earn 20% share of fees from your referrals. Copy and share it with your friends ex: [app.vela.exchange/?refer=19OUT011](https://app.vela.exchange/?refer=19OUT011)

![](https://storage.googleapis.com/papyrus_images/9f2671d989c0c1c7602dc7a8ef2d9b79851944ff43fefb6c0df25518854235ba.png)

Check the settings tab and set you username, email and phone number.

![](https://storage.googleapis.com/papyrus_images/46452ead3e3dd83b3f63e3537100e35722822ca5a96ac32d132418accbfb4c36.png)

So, now you know how to use the Vela Exchange and you try yourself this amazing experience. It is still in Beta, so if you find some bugs you can share it with the Vela team.

![](https://storage.googleapis.com/papyrus_images/37fcabb88f4688267c70115a8314197694c19315e9823d84661fcc65f3e3ac7b.png)

Useful links:

*   [Vela Exchange App](https://app.vela.exchange/)
    
*   [Vela Discord](https://discord.gg/velaexchange)
    
*   [Whitepaper](https://www.vela.exchange/whitepaper.pdf)
    
*   [Docs](https://vela-exchange.gitbook.io/vela-knowledge-base/)
    
*   [Twitter](https://twitter.com/vela_exchange)
    
*   [Medium](https://medium.com/@vela_exchange)
    
*   [Telegram channel](https://t.me/vela_exchange)
    

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*Originally published on [vdobatovkin](https://paragraph.com/@vdobatovkin/vela-public-beta-is-live)*