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
Velox will begin actively protecting traders from front-ran transactions.
  • Wrapping Ethereum — wETH (wrapped ethereum) requirements have been confusing for traders as they need to allow a minimum of 1 wETH to begin trading in addition to gas fees. A large number of initial failed transactions blamed on Velox were simply the result of traders using wETH and not leaving enough for their following transactions. Some users did not also understand this and thought they needed to possess all the tokens they approved. As a means of limiting allowance confusion moving forward, we will be displaying expanded wETH approval calculations for new users rather than just a 1 wETH minimum.
Each strategy will come with a confirmation pop-up
  • Failed Transaction Communication — We’ve realized that, while it is beneficial to communicate that a transaction did not succeed, it is far more useful for our users to know why it did not go through. This way they can see if there are alterations to their parameters that need made or if something was simply a result of blockchain/DEX limitations. The Velox system will begin recording, indexing, and error-logging all failed transactions in addition to providing users with a short explanation of what went wrong. The above mentioned article will have a deeper explanation of why something did not go through and what can be done to lessen the chances of that occurrence in the future.
Coming Velox UI with Pangolin, SushiSwap, % Trading, and Revised Strategy Table.

The scalable, highly efficient trading bot for decentralized exchanges.