Delegated Accounts
What is a Delegated Account?
This feature allows users to grant another Solana account limited access to their account on Velocity. Users using Velocity’s account delegation feature may wish to delegate trading execution to a professional trading team. Each subaccount on Velocity has its own delegate parameter.
What can a Delegated Account do?
Delegated authorities on Velocity can ONLY:
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deposit funds;
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swap assets;
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place and cancel orders.
Delegation is set per subaccount, so a delegate only has access to the specific subaccount it’s assigned to. It’s important to note that full control over the account remains with the owner.
A delegated party can NOT:
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borrow/withdraw funds;
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close the account; and/or
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change or remove existing account delegation parameters.
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change any settings
Delegated authorities are restricted to depositing funds, swapping assets, and placing or canceling orders, therefore limiting their capabilities. All other actions must be carried out by the account owner.
Transfers between subaccounts are an exception: a delegate can call transferDepositByDelegate to move spot deposits between the owner’s subaccounts, but only after the owner explicitly opts in with updateUserAllowDelegateTransfer(true) (sets the AllowDelegateTransfer bit in UserStats.delegatePermissions). A delegate can also call transferPerpPosition to move perp position value between the owner’s own subaccounts at any time, without that opt-in. Without the opt-in, a delegate still cannot move spot deposits out to an external wallet, and no opt-in ever allows moving funds to a subaccount the owner doesn’t control.
How do I delegate access to my account?
To delegate access to another Solana account using Velocity’s UI, go to the the Accounts Page in your portfolio. In this section, you’ll find the option to set up a delegate account, as shown in the image below.
Afterwards, you will need to enter the Solana address or account to which you want to delegate access, and then select “confirm.”
Hardware Wallets
If you are using a hardware wallet such as Ledger to connect to Velocity via a wallet provider (Phantom, Solflare, Backpack), you may encounter errors when signing certain orders.
To ensure a seamless trading experience, we recommend creating a delegate account. This allows you to continue trading on Velocity, while maintaining the security benefits of using your hardware wallet.
Please follow the guide above to set up a delegate account from your hardware wallet.