VWAP (Volume-Weighted Average Price)

VWAP targets participation proportional to total market volume, effectively following the flow of the market rather than fighting it. Terrace measures traded volume across all connected venues and adjusts pacing so that total execution aligns with the overall rate of activity. If market volume doubles, the strategy automatically increases its participation to maintain the same relative footprint; if liquidity dries up, it slows down. VWAP is particularly useful for foundations or funds entering or exiting large token positions gradually without signalling intent — execution remains natural and proportionate to actual trading conditions. Internally, VWAP relies on the same routing layer as TWAP, but weighting logic is based on live volume curves rather than time intervals; the dynamic VWAP is currently only available on CeFi venues.

In addition to standard VWAP, traders can select strategy presets (Simple, Impact Minimization, Target Participation Rate, Market Maker, Aggressive Maker, Aggressive Taker, and Target Time) in order to bias pacing and venue behaviour. An Advanced toggle exposes controls (e.g., participation bands, maker/taker bias, max-slippage per slice, venue preference) for finer execution tuning; dynamic VWAP remains CeFi-only for now.