Proof of Reserves
Vela holds exactly what it owes.
The VelaSettlement contract on Ethereum holds all deposited funds. The engine tracks all credited balances. These numbers must match — and you can verify it yourself, right now.
Exchange Revenue
Published in real time.
Vela charges 5 bps on taker fills and pays 1 bps rebates to makers. This is the complete revenue record since launch. No other exchange publishes this.
Fee rate: -1 bps maker rebate · 5 bps taker fee · Net margin: 4 bps per matched trade
Order Audit Trail
Every order has a permanent record.
Every order ever placed on Vela is accessible at vela.monolithsystematic.com/orders/{id}. You can verify your order was handled correctly — the price it matched at, the counterparty, the exact timestamp.
Order IDs are shown in your trade history after placing orders.
Go Deeper
Go deeper.
Transparency Score
25 criteria across 5 categories. Scored honestly — complete means verifiable right now. The industry standard for exchange transparency.
View scorecard →Operator Disclosure
Who runs Vela, what they can and cannot do, and a signed commitment to fair operation.
Read disclosure →Batch Explorer
Every batch has a keccak256 state root. State roots are anchored to Ethereum every 10 minutes — a permanent, immutable record verifiable on Etherscan.
Explore batches →Fraud Proof System
Understand the ZK architecture. Verify state roots. Submit a challenge if you find a discrepancy.
Verify trades →System Status
Live engine health, uptime metrics, and incident history. Published in real time.
View status →Market Analytics
Real-time spread, slippage estimates, and market depth for all 16 markets. Published openly.
View analytics →ZK Proof System
Vela's optimistic-ZK architecture. Infrastructure deployed, SP1 integration and full per-batch proving ships post-Stanford AFT Lab (June 2026).
View proof system →