Vega Protocol Goes Live with On-Chain Futures on Layer 1 Blockchain

Vega Protocol Goes Live with On-Chain Futures on Layer 1 Blockchain


Vega Protocol launches its first on-chain markets for cash-settled futures trading using stablecoins USDC and USDT, with plans to add additional market types in future stages and introduce a browser wallet and Miner Extractable Value protection.

Vega Protocol, a Layer 1 blockchain tech focused on derivatives trading, has launched its 1st on-chain markets following the release of its alpha mainnet earlier this month.

The project’s community members approved an on-chain governance vote to kickstart trading and take its markets live. This community vote likewise greenlit the use of the USDC and USDT crypto stablecoins for deposit and withdrawal operations through an interoperability bridge with Ethereum.

From today, Vega Protocol will offer users the  potential to create decentralized and permissionless markets. To begin with, the network will only support cash-settled futures markets but it has intends to add spot, perpetual, and other types of markets in future stages.

READ NOW
2K Target Looms: Ethereum Price Analysis

Beyond its trading capabilities, the core team intends to introduce a browser wallet, allowing users direct in-browser access to the full Vega ecological system. In addition, the team intends to incorporate a software feature named Wendy, designed to provide Miner Extractable Value (MEV) protection to on-chain traders.

After an extensive research and development phase spanning nearly 5 years, Vega launched on mainnet on May 10. The core team published the whitepaper for Vega in 2018 outlining a performance-optimized, application-specific blockchain tech built on the Tendermint proof-of-stake consensus mechanism.

In 2019, the team raised a $5 Million seed round led by Pantera Financial resources. Then in 2021, the team conducted a community crypto token sale on CoinList, raising $43 million.

READ NOW
Ethereums Fate Decided by Machine Learning in 2023



Source

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend