Frequently asked quiestions (FAQ)
What is the official Veax website?
You can access Veax by visiting https://www.veax.com.
What is the Veax token’s symbol?
Veax’s governance token is traded under the $VEAX symbol.
What is the total supply of $VEAX tokens?
$VEAX tokens will have a hard cap of 10 million tokens.
How do I use Veax?
You can create a new liquidity pool, provide liquidity, perform token swaps, harvest your reward from the provided liquidity, or cast your vote on governance proposals. For this, navigate to the Veax Interface and establish a connection with your wallet. Note that each blockchain transaction on NEAR requires NEAR tokens to pay transaction fees. For a more comprehensive guide, see our user guide.
What is wNEAR?
wNEAR is a fungible token implementation of NEAR based on the NEP-141 standard, providing functionality for certain DeFi operations such as swapping, adding to liquidity pools, and bridging to/from other blockchains.
How do I report bugs found on Veax?
If you find a bug, report it to [email protected]. Alternatively, you can reach out to us through our Telegram group and Discord channels. Our team will process your report accordingly.
Where can I submit requests and suggestions for new features on Veax?
To submit your suggestions, reach out to us through our Telegram and Discord channels. Our team will receive your feedback and reach out to you if needed.
What is the cost of interacting with the Veax protocol?
Transaction fees for NEAR blockchain usage are required to interact with the protocol and depend on the network status and transaction complexity.
Where are my supplied funds stored?
Users' funds are stored in a smart contract, allowing for withdrawal on demand.
What is impermanent loss?
Impermanent loss (IL) refers to the temporary loss of funds experienced by liquidity providers (LPs) due to volatility in a trading pair. This loss can be balanced by LPs through optimal portfolio ratios.
How do you reduce IL?
You can reduce IL by using one of the eight fee levels assigned to a pool. Using the multiple fee level system gives you more control over IL reduction.
What are the multiple fee levels offered by Veax?
Veax offers liquidity providers (LPs) to earn swap fees by providing tokens into the exchange pools. These pools are similar in their nature to liquidity pools, but due to our unique software architecture, we deem this name more appropriate.
Each pool has eight fee levels, ranging from 0.01% to 1.28% and LPs can create multiple liquidity positions on the same or different fee levels to optimize their capital efficiency. This approach has several advantages for developers, traders, and LPs.
For more details, see Multiple Fee Levels.
Can I change the fee level after I have created a liquidity position?
You can't change the fee level of an existing position, because these positions are immutable, and each position has a specific ratio of tokens in it.
If you want to change the fee level, you need to close the existing liquidity position and open a new one.