Vela Exchange Launches Multichain Deposits Feature

Vela Exchange, an Arbitrum-based perpetual DEX, announced the launch of Multichain Deposits, a feature that allows users to deposit assets on other chains directly into Vela Exchange.

Multichain Deposits is powered by cross-chain interoperability protocol Axelar and its cross-chain bridge Squid. With the help of the new feature, users can swap any tokens on other chains into $USDC on Vela Exchange in one transaction, and start trading immediately.

In addition, the feature allows users to swap any tokens from any chain to mint VLP, or buy gas tokens.