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Vega Protocol Launches Crypto Futures Markets

ByLouis Adams

May 25, 2023 #Blockchain
Reading time: < 1 minute

After a community vote, Vega Protocol, a layer-one blockchain derivative-focused platform, launched its first markets in May 10, 2023 following mainnet activation.

It is possible to use Tether’s USD Coin (USDC) and USDT stablecoins for deposits and withdrawals through an interoperability solution connected to Ethereum.

With the network, users can create decentralized markets, initially offering only cash-settled futures, with future plans to add spot, perpetual and other types of contracts.

A browser wallet and an app called Wendy to protect traders from MEV will also be released.

The project’s white paper was published in 2018 and the Proof-of-Stake consensus mechanism from Tendermint protocol is used.