Hyper VLP 2.0
The Hyper VLP program during the Vela Exchange Beta was a great success, incentivizing early liquidity providers with strong rewards and kickstarting the economics behind leveraged trading.
However, Hyper VLP paused after the closing of our Beta, allowing us to enhance the infrastructure of the program and open the doors to new participants.
The output?
Hyper VLP 2.0 will allow previous Hyper VLP participants during Beta to come back at exactly the same tier they minted and HELD at. Only minters who had remaining Hyper VLP amounts during the Beta close qualify to reclaim their previous tier allocation.
New participants that did not have the opportunity to participate in the previous Hyper VLP program will be able to guarantee their allocation into an extended tier system. Previous Hyper VLP participants may also participate in this tier by utilizing a separate wallet.
If a user minted and held Hyper VLP during Beta
If a user minted and held VLP during Hyper VLP Beta, they will have a chance to provide the same liquidity within a two week grace period from launch date and continue earning the VELA rewards. Their reward tier will remain the same as the beta period.
Attention: If a user misses the grace period, they will not be able to take advantage of Hyper rewards going forward.
Other details:
Allocation is limited to the Hyper VLP you were holding during the shutdown of the beta.
Any more liquidity provided will be counted as regular VLP.
If the user is a Hyper VLP beta contributor, they may not extend their Hyper VLP allocation without creating another wallet.
Hyper VLP 2.0 Extensions
In addition to the original reserved amounts for Hyper VLP Legacy, Hyper VLP 2.0 will reward the first 20M VLP minted (excluding the Hyper VLP Legacy holders) with BONUS esVELA over a 12 month period.
Hyper VLP 2.0 Tiers:
Tier 1: 0-1M VLP → 0.1 esVELA per VLP
Tier 2: 1-3M VLP → 0.08 esVELA per VLP
Tier 3: 3-6M VLP → 0.06 esVELA per VLP
Tier 4: 6-10M VLP → 0.045 esVELA per VLP
Tier 5: 10-20M VLP → 0.038 esVELA per VLP
VLP price will start at 1 USDC (≈$1)
The extension will consist of 5 different reward Tiers, with the earlier liquidity providers gaining access to higher reward Tiers.
Similar to our BETA, our Official Launch will have gated access based on 3 stages, Early Access 1, Early Access 2 and Public. During these stages, users can access both Hyper VLP 2.0 minting and trading live.
Early Access 1 (2 days): Hyper VLP Legacy holders*, who were holding more than 100 VLP when the BETA closed down.
Early Access 2 (2 days): Lucky winners of the early access sign-up.
Public(14 days)
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