What problem TWAP solves
A large immediate trade consumes available liquidity and worsens its own execution price. It also stakes the whole trade on one market moment, and executing everything at once makes the trade easier for other participants to detect and react to. TWAP reduces those risks by spreading execution across smaller settlements. It does not remove market risk, and it does not guarantee a better final average price.How Velora TWAP works
Velora TWAP is scheduled Delta execution:- The user chooses the pair, side, total amount, number of slices, interval, deadline, and execution constraints.
- Velora builds a signable Delta order for the schedule.
- The user signs once.
- When a slice becomes eligible, Velora runs execution for that slice.
- The Delta contract enforces the slice timing on-chain.
- The order completes after the final slice settles, or fails/expires if its constraints can no longer be met.
Key terms
- Scheduled order: the signed Delta order that defines the TWAP.
- Slice: one settlement inside the scheduled order.
- Number of slices: how many settlements the trade is split into.
- Interval: the minimum time between slices. Velora enforces a schedule; slices are not independent user actions.
- Deadline: the latest time the order can remain valid.
- Side: sell TWAPs fix and split the source amount; buy TWAPs fix and split the destination amount while capping source spend.
TWAP vs Swaps vs Limit Orders
A swap executes the full amount now. A limit order waits for a target price and fills only if the market reaches it. A TWAP commits the trade upfront and settles slices as they become eligible, whatever the price does within the order’s constraints. TWAP and limit orders are both signed Delta orders that settle after signing. The difference is the trigger: a limit order is price-conditional, a TWAP is time-driven.Build it
- Use the Widget if you want a ready-made TWAP form in your app; Configure Widget controls whether it appears.
- Use
POST /v2/delta/orders/buildif you are building the HTTP flow directly. Submit the signed order throughPOST /v2/delta/ordersand track slice execution through the Delta order endpoints. - How Delta works explains how signed orders are auctioned and settled.