Vela Token - VELA

Vela Exchange Airdrop / how to be eligible / Arbitrum network

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Good evening everyone welcome to a new video in today’s video we’re going over the fella exchange airtrope how do you get eligible for this airdrop how do you get these airdrop tokens for free and uh yeah of course I kind of looking into decentralized exchanges so I’ve already

Shared with you guys the cranium exchange which is also a pretty nice project we’re pretty early on investing into it so if you’re interested in that join our Discord there’s more information on that in the Discord for today’s video we will go no we’re going over the feather exchange which is on

The arbitrary Network so I’m going to start from scratch for those that haven’t even downloaded made a mask yet so let’s start with downloading made a mask and adding it as an extension to our Google Chrome browser okay so it’s being downloaded right now let’s have a quick look there we go

We have the meter mask let’s create a new wallet I agree uh let’s do a password Here right so I understand create a wallet there we go secure your wallet remind me later uh you guys should do it but for the video I’m just gonna skip it

For now so skip all the creation successful got it all right next next done right now we have it that’s uh it’s as easy as that now you can see you can also open your extension or your made a mask wallet right in here and we have everything we need in here

Um now the next thing is guys it says ethereum mainnet and what we know about the fella exchange this new decentralized exchange which is offering derivatives trading guys I want to quickly summarize for you why I think these derivatives exchanges or these these depths that are offering

Derivatives trading will be a huge thing now just think about it for a second buy bit okay femx bitmex what do they have in common why did they become so big because the degenerate characteristics of a cryptocurrency Trader is that they want to use leverage they want to get a lot

Of exposure they are very bullish or very bearish on something right so leveraging the crypto Market is something that has a lot of demand and these platforms that offer leveraged trading and derivatives trading are growing very very rapidly they are becoming one of the biggest players okay spot exchanges can not really compete

With these derivatives exchanges and what I think is a bad part about is this these exchanges that that they are all centralized at the moment okay so there is still a central point of failure for example them being hacked or this happening or that’s happening we’ve seen

Plenty of that already right FTX being the most recent one but guys I’ve been here long enough to have seen so many exchanges fall okay and lose lose my coins on some many of them when they when they basically Rock pool us uh pretty much right and mount Gog speak to

Being the biggest example of that they have still not paid back uh their investors so I’m looking forward to see a decentralized exchange that can actually compete with centralized counterparties and I think that we’re coming very very close to making this a reality uh GMX is one of the ones that are that

Decentralized situations that’s doing really well I’m just looking for the next one and uh as I told you guys in the Discord and the link to the Discord will be in the description fella exchange is in beta they have confirmed that they will be doing an airdrop for

People who have actually tested their exchange so even if you do one one trade on their exchange you’ll be eligible for free tokens that they will be giving out okay so because this is still in such an early stage I think holding on to these

Tokens for for a little time is the best way to go about because we don’t know which of the decentralized exchanges will be the biggest but I’m pretty pretty confident that there will be a decentralized exchange that can compete with some of the centralized exchange I

Mean dydx is already showing that to us right so um I think that’s why I think this is so valuable you just want to to get your airdrop tokens for free and that’s what I will be showing you guys today so we already downloaded made a mask but what we can

See or what we know about file exchange is that they have built on arbitrary Network which is a layer 2 which makes uh transactions on ethereum a lot faster right so um you don’t have to pay the transaction fees on the ethereum network anymore uh you’re moving on the layer 2

Of arbitrary now how do we do all of this okay so I’m going to show you that step by step now we have ethereum right here the first thing we want to do is add Network because we need arbitrary one right at the top here you want to

Click add okay now they give you all the information just approve it okay switch to arbitrary one and there we go guys now we’re on the arbitrary one network you can see it right here orbital one everything is working fine next thing we want to do we need some ethereum okay

Because glass is always paid in ethereum so you need ethereum to do transactions on arbiterm as well as on the 80 your main Network so we need to move some ethereum on here can I do that from an erc20 wallet can I do that from any mainnet ethereum wallet no I need

Ethereum on arbitrary now this is where things get a little bit complicated complicated and scary for some of you where you’ll have to start bridging which means taking coins from one chain and migrating them to another chain to a second layer for example but we’re not

Going to do any of that right what we are going to do is use our buy bit account and withdraw some of our funds from by bit towards metamask okay so let me prepare that for you guys and I’ll be with you in a second

All right so right here I have my uh buy bit wallet okay my Bible support wallet and you can see I have used DC right here and I have some ethereum right here so I’m going to send both of these towards the arbitrary Network and as I

Told you guys so if I click on with row right here um check it with rose okay you can choose the network that you want to send it to and you can see arbitrary one is already noted right here for me okay now I have to say that this wallet right

Here is not the one that I want to send it to so let me remove that but um foreign but right below it you can see you can choose the change that you want to send these destruction transaction to so you can see erc20 but what we want is the

Arbitrary Network so I want to send like 50 uh 50 usdc coins towards my wallet right here and let me copy that there we go paste in the wallet let me see does it start with a D it starts with a d ends with an a that’s

Perfect that’s the right wallet that we want to send it to 50 from my spot wallet where I have 100 usdc and here you can spit so we are sending it to the arbitrary Network that’s perfect submit this transaction there we go submits and now I need to do some two-factor Authentication

Here we go the first transaction was successful the next thing you want to do is send some of the ethereum because we need that for the Gauss fee so also do the same thing here with Rhoda fonts it’s the same wallet address as we send

It to uh just now so it ended with a oh you can just paste it in oh that’s my two-factor authentication codes let me see right here or right here I mean copy over this all right so paste in the wallet address choose the chain arbitrim1 okay and let

Me just send all of this or like this and submit that’s it right arbitrary one the wallet address and amount and we can start submitting it let me do the two-factor Authentication okay so the next one also succeeded I can click on confirm now we have a little issue here because I’m pretty

Sure that the usdc has already been sent but I don’t see any usdc wallet here but at the bottom here I can see import token so I want to click this import token and now I need to find out which token do I need to import because what

Is the token contract address for usdc now how you can go about for this is go to coin Gekko let’s go and find the usdc coin here so use DC we want to go to the USD C coin page and right here at the right side we have the

Information and we also have the contracts for for the USD C token for different networks right so if you click the little dots on the right side it will open up a menu and you want to look for the arbitrary one option so let’s have a quick look maybe

I already went past it so let me scroll all the way up let’s look for arbit room one right here there we go so arbitrim1 for usdc and then you want to click the copy one so it takes the contract address now I copied it over I go back to import token

And do control V so paste it right in and it recognizes that it’s the usdc it has six decimals and I can now add it to um to my wallet and now you can see right away it’s showing me my 50 balance which I just sent from buy bit but it

Couldn’t really recognize it until I added the wallet and now I have both ethereum and usdc ready to be used all right so now the next thing we want to go to the fella exchange okay so Exchange and connect our wallets and now it says made a mask well we already downloaded

Made the mask we are on the arbitrim network so this should all be good I confirm and sign up okay sign this you’ll get a lot of signing to do uh referral ID can I do my own referral ID I should be able to let me quickly find my referral ID

Right there we go okay okay choose the username choose an email address wow whatever I’m not for now thank you for participating in our incredible sexy beta okay so now we’re already participating but in order to be eligible for the airdrop we do need to

Make it one small trade at least I will feel a lot better with that but guys if you want to get as much of the token allocation as possible you’ll need to create a lot of volume because I’ve I’ve been in their Discord for a while and

They’re very clear about the fact that the more you trade the more volume you do and the more tokens you will get during the airdrop okay but if you’re not really into that just do one simple trade and you’ll be eligible for the airdrop because I don’t know how much

Weight will be on the trading volume and how much weight will be just by participating okay so for for me I’m going to make three bullets uh or four wallets I mean three wallets I’ll be just participating taking once one single trade on this decks and the other

One I’ll do a lot of volume just to make sure that if the volume is a big part of the allocation that I’ll still get a nicer location for this a good air drop okay so that’s pretty much it we need to do a trade now so we go over to trade

And it asks us to deposit so the way this works is you have 50 usdc in your uh made a mask wallet but you kind of have to put it into the exchange here right so you guys know that I have 50 usdc code but I will just do like for

Example 20 of them I’ll bring them off to the exchange just to mitigate the risk right so you can just take a portion of your usdc and move that over to The decentralized Exchange let me see deposit let’s confirm this and there we go usdc deposit was successful now you can see

My long short my menu my trade menu has opened up and I can start taking a trade okay just just simple taking a small long hair putting five bucks in it setting it 20x leverage right so you can choose how much of your dollars you put up as collateral then how much leverage

You’re gonna do so 20 times 5 is a hundred dollars so I’m basically taking a position size of 100 right so that’s it uh I don’t I can add it I can add a take profit price here I can edit stop loss price here which is pretty pretty

Nice for a decentralized exchange I can also see the position fee and the borrowing fee that’s fine let’s open up this position slippage well I can I can for example say that I do not want more than 0.05 Snippets confirmed long and confirm the trades

Okay and my trade is in guys this is easy uh all you have to do even later on you can add to your position you can increase leverage you can add TPS and stop loss later you can even do a trailing stop loss on this decentralized exchange pretty fabulous I mean I’m

Eligible for an airdrop on this account right now and it only took me a couple of minutes not a lot of time at all um that’s it guys um I hope you guys enjoyed it as you know I also have shared with you guys another exchange which is the cranium

Exchange which I also quickly want to show you guys I mean I I believe uh in the fact that the decentralized exchange will soon uh be as big as the centralized exchanges and I mean dydx is already showing that that’s very very likely to happen and Cranium is an exchange that has been

Built on Phantom and why am I such a big fan of of phantom uh it’s the fact that they have they have added something guys which I did I think ethereum should have thought about way before right and what they’ve added is pretty much the fact that

Um in ethereum if you’re mining ethereum you get a newly generated tokens right or you have to State your ethereum and then you get the newly uh tokens or the newly minted tokens so in order to get or to mine you need a hardware or uh you need to do staking

But in Phantom they have made something very very amazing which is the fact that if you have a decentralized application built on Phantom you’re going to get rewarded for that so the more the the more popular your app is the more it’s being used uh the more rewards you get

From from Phantom so basically they shifted the whole reward system from paying out to Miners and stakers they shifted it to paying out to uh depth Builders and I think that’s a very very good move because at the end of the day and layer one or layer zeros whatever

You want to call them are there to be like the app store right like IOS app store or Android app store they need to provide you apps which are decentralized and easy to access and I think um the main goal for such a layer zero

Is to get a very popular depths built on top of them right for example why is ethereum so successful because there is a lot of developers building a lot of decentralized applications that are solving real issues for people okay so that’s the way that they generate value now are those people getting fairly

Rewarded no I believe they are not because uh other uh for example miners or stakers could be earning more than the person who built uni swap uh for example just just as an example I don’t know if that’s actually the case I I’m pretty sure some miners earn more than a

Unisa uni swap developers but the idea would be that on Phantom if you create a very good debt or even if the uni swap developers migrate unisop to Phantom then they will be rewarded for that with Phantom tokens because the uni swap application would generate a lot of transactions and the more transactions

The more rewards you get from Phantom because your app is basically attracting new users to their uh to their platform so I think that’s so that’s a big move that will that will basically yeah move Phantom towards the top three of cryptocurrencies in my opinion so we’ll

Have to see if that actually going to happen if that’s something that’s on the pipe in the pipelines but I believe in it and uh um and uh I think I have pretty clear reasons uh why I think that will happen over time so let’s wait and see let’s

First move Phantom to the Phantom Network I mean okay so now we’re on the Phantom Network and I quickly wanted to show you guys because in our Discord and if you haven’t joined our Discord yet please do I shared with you guys the cranium exchange which is a just like uh fella

It’s a decentralized exchange where you can do derivatives trading with leverage uh but it’s built on the Phantom Network now what I did here is I bought one nft and I think for about two hundred dollars in the cool thing areas I’m already staking I already got some Phantom

Not even only this I got more than this Phantom from this platform already but the other other cool part is they gave me 235 East goals for free which is now valued at 591 uh dollars which I’m currently staking so by buying a 200 nft I’m basically

Um yeah I’m receiving a lot of staking rewards but I’m also receiving free coins and I still have the nft so uh yeah this is another project you’re you’re very early on there is no guarantee that this is going to be the decentralized exchange on Phantom but

It’s a good bet for 200 I brought my share into this and I’m already making money and and I’m letting this sit here for a year or so and see if those developers can keep their promise and make this a decentralized exchange that people actually want to use uh but yeah

This is another another decentralized exchange that I’ve participated in uh their initial offering and the other one is felon let’s let’s keep our eyes and ears open look for the next opportunity I think there will be a lot of them around the corner so

Um this was it for this video I hope you guys enjoyed it I hope you guys can follow along and participate in this fella artwork I’ll see you guys in the next video bye

In this video we’ll go over the steps needed to be eligible for the Vela airdrop on the Arbitrum chain.
Follow the steps in the video to execute a trade on Vela’s Decentralised exchange in order to take part in the soon to follow airdrop.
The more volume, the bigger your airdrop.


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