Velar Perps

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

Velar Perps is published as a versioned release inside the Velar Protocol protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Velar Perps is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Oct 11, 2025
   Listed on DeFiLlama

Velar Perps is a Derivatives protocol where traders open leveraged, perpetual, or option positions priced off oracle feeds and settled in collateral held by the contract. It is deployed across 3 chains, including Stacks, BOB, Mezo.

Velar Perps operates on 3 networks (Stacks, BOB, Mezo), keeping its surface area narrower than chain-agnostic peers. Roughly 100% of its on-chain value sits on just three networks (Stacks, BOB, Mezo), so a fault on any one of them would affect a large slice of users.

Verified external resources for Velar Perps — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Velar Perps is one of 7 Derivatives protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Jupiter Perpetual Exchange, Hyperliquid HLP, Drift Trade, and 3 more. These peer protocols collectively secure $2.3B in deposits, giving you a frame of reference for whether Velar Perps's own TVL is at the top, middle, or tail of the category.

Jupiter Perpetual Exchange

TVL $910.6M · 24h -0.27%

Hyperliquid HLP

TVL $431.7M · 24h +0.11%

Drift Trade

TVL $334.4M · 24h +0.22%

GMX V2 Perps

TVL $267.5M · 24h -0.08%

Extended

TVL $196.4M · 24h +0.06%

dYdX V4

TVL $125.3M · 24h +0.58%