Review of the Velox Beta Launch

As the Velox beta has been publicly released for a few weeks now, the team thought it pertinent to openly discuss the successes and challenges we’ve found throughout our community beta testing. These include addressing failed transactions, UI hick-ups, and the massive effort the entire development team is making to efficiently deploy improvements. Before we start, the Velox Global team would like to thank our users for constructively testing, critiquing, and encouraging the Velox team in their continued efforts at improving this revolutionary platform.

Newly Designed Velox Logo

Prior to the public release of Velox we recognized that, while we were confident in our understanding of the systems operability, there were undoubtedly going to be unforeseen bugs which pop up. This is a natural occurrence when thousands of users across the globe access a brand new platform. That being said, the initial launch far exceeded our expectations in terms of completion success and usability. There were zero major failures, zero transaction errors which could not be addressed, and the overarching reception of Velox was highly positive. This is not to say all transactions succeeded, but absolutely none were irrevocably lost. Fundamentally we found that Velox’s initial release helped promote the success of our users therefore making the beta launch an overall success!

As the platform picked-up, however, we found system adjustments which needed to be made in order to improve Velox’s performance. Let’s dive into a couple of these adjustments so that you have a good understanding of what Velox has been doing and how it will improve in the very near future:

Velox will begin actively protecting traders from front-ran transactions.

Front Running Bots — A critically defining feature of Velox, which is presently undergoing finalization, is the dynamic gas price sourcing and adjustment tool. This feature is what allows Velox to not only calculate the price of gas necessary for a transaction to execute first, but also adjust gas mid-order submission. By doing so, Velox can proactively mitigate the impact of front running bots on DEX traders. We’ve found that, while efficient, the beta version of the gas price adjustment tool was limited in its precision and deployment efficacy. As a result, orders were failing at a rate higher than anticipated. This feature is in its final stages of improvement and we expect the perfected mempool gas price estimation and gas price adjustments to be released this May. This will greatly improve overall transaction completion rates.

Each strategy will come with a confirmation pop-up

Limit and Market Orders — Users have been inadvertently setting market orders when they meant to issue limit orders and vice-versa. This is a result of switching the order of the trading pairs but not flipping the greater than/less than logic in the drop down menu. Moving forward we will link pair switching to switching the trade logic. We will also be adding a confirmation page which clearly summarizes the order as it’s being entered so users have another look at the strategy they issue through Velox.

Coming Velox UI with Pangolin, SushiSwap, % Trading, and Revised Strategy Table.

These changes are just a few of the overall improvements being made to the Velox Algorithmic Trading Bot platform. In addition to execution consistency alterations, we are working on the UI and have already finalized multiple, new DEX smart contracts which will be implemented following these aforementioned improvements. That is not to mention the additional functionalities like %-change and OCO orders which are being developed for beta testing. When it is all said and done, we are very happy with the community response towards Velox and overjoyed at how much work our team has been able to accomplish in such a short amount of time. As we have said throughout this entire process, Velox will become a standard tool in every DEX traders arsenal, so thank you for helping us reach that goal even sooner.



The scalable, highly efficient trading bot for decentralized exchanges.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store

The scalable, highly efficient trading bot for decentralized exchanges.