About Vessel

What is Vessel Finance in simple terms?

Vessel Finance is a decentralized exchange powered by zero-knowledge proofs, now expanding into a Layer 3 DeFi network. The aim is straightforward: combine the speed of a CEX with the openness of a DEX. Built on Scroll, it runs custom ZK circuits for order matching, AMM-based order books, and self-custody. In practice, it’s trying to become trading infrastructure that DeFi can actually rely on.

Has Vessel (VESSEL) coin launched yet?

No. There’s no public token in circulation. Testnet went live in June 2024, and mainnet followed that August. Tokenomics, supply, or distribution details haven’t been revealed. Teams usually hold back that information until just before a token generation event (TGE).

How is the token expected to be used?

Although nothing official is published, the design hints at a multi-use coin. It should cover governance, trading fees, and ecosystem rewards. Think staking, rebates, and voting rights. Still, there’s no supply breakdown or allocation chart to point to—those remain under wraps.

Any info on vesting or unlocks?

Not yet. With no token launched, there’s no unlock calendar. If it mirrors other crypto projects, investors could see 6–24 month locks, founders more like 12–48 months, and advisors or ecosystem rewards staggered. For now, that’s only an educated guess.

Who backed Vessel during fundraising?

The seed round in August 2024 brought in $10M. Sequoia Capital led the raise, joined by Avalanche Foundation, Folius Ventures, IMO Ventures, Incuba Alpha, Scroll, Algorand Foundation, and Sandy Peng (angel investor and Scroll co-founder). It’s a strong lineup—Tier 1 capital, ecosystem players, and insiders.

What trading pairs are live on the exchange?

The current lineup is small: ETH/USDT, ETH/USDC, WBTC/USDT, WBTC/USDC, SCR/USDT, and USDC/USDT. Volumes are still light—tens of thousands a day—but that’s expected at this stage. The team seems more focused on liquidity quality than headline numbers.

Has Vessel run any token sales or airdrops?

No public sale so far. Instead, they rolled out Voyage, an incentive campaign launched on Scroll in August 2024. Users can trade, add liquidity to earn “Mileage,” and invite friends for Referral Coins. Rumors of future airdrops exist, but nothing official has dropped.

What’s on the roadmap for Vessel?

So far: testnet, mainnet, and a $10M raise are done. Ahead: Layer 3 build-out, derivatives, margin upgrades, and cross-chain expansion. The TGE date? Still blank. It’s ambitious—they want to position Vessel as a full Layer 3 trading hub.

Who’s behind the project?

The founders are Sandy Peng and Ye Zhang, also known for creating Scroll. Their ZK and scaling experience runs deep. The overlap gives Vessel credibility, though it does mean a lot depends on a small, core group.

What are the main risks to keep in mind?

A few stand out. ZK systems are powerful but still untested at heavy scale. Liquidity is always tough to bootstrap. DeFi regulation is in flux worldwide. And like any protocol, smart contracts can be exploited. Backing and vision are there, but execution and adoption remain the real tests.