Perpetual future markets are live on Vega!
Anyone with an internet connection can now trade perps on Vega! Trade with leverage, unmatched capital efficiency and great UX on an ever-growing list of community-proposed markets. #FreeTheMarkets
Experience the Vega network: the ultimate decentralised and customisable derivatives trading protocol. Its user-friendly interface allows you to access the first community-driven, on-chain voted, perpetual futures markets! You can now trade perps with ease on the Vega Console!
Benefits of Perpetual Futures on Vega
Vega’s perpetual futures markets enable capital-efficient trading by allowing leveraged long and short positions on a growing number of markets created by the Vega community. Users benefit from:
- Negative maker fees and zero gas costs on Vega’s custom-built blockchain
- A network and protocol engineered for peak performance in derivatives trading. With sub-second block times, it offers rapid transaction processing and low latency compared to other DEXs
- Advanced margin management, price monitoring circuit breakers, and liquidity rewards balance incentives safety, capital efficiency, and liquidity
- Revenue generated by the protocol is automatically distributed to price makers, committed liquidity providers, validators, and VEGA token stakers
Permissionless Market Creation and Community Control
Vega’s commitment to permissionless market creation means that all markets are community created and managed, entirely via the on-chain governance protocol. This innovative feature of Vega’s design empowers anyone holding enough $VEGA (currently 20,000) to propose new markets, which will be listed if accepted by token holders. The protocol offers a high degree of customisation for market creators:
- Traders can propose perpetual futures markets on any asset, commodity, etc., including real-world assets, niche altcoin pairs or other unique markets, by following the steps in the market proposal guide
- Currently, VEGA, USDT, USDC, and WETH ERC20 tokens can be used for settlement. Support for almost any other ERC20 can be added by an on-chain governance proposal
- Ethereum oracles allow market creators to use any Ethereum smart contract data as a price feed, including those of major oracle providers like Chainlink
What’s Next?
The recent Cosmic Elevator release brought other new features alongside perps, including improved capabilities for on-chain rewards and incentives, and the ability of the community to propose and deploy schemes such as volume discounts for heavy traders and referral programmes that allow the community to create on-chain benefits for referring new users.
The Vega project team is excited about how Vega users and DeFi enthusiasts will use the protocol, and excited to see how the community will team up to launch new markets. The team will be hosting a number of in-person events, including a London Meetup where traders and community members can meet the team face-to-face, and a trading competition and community meetup event in Korea.
Vega is still in its early days and continues to see growth and development on the network and in the community. Trading volume on Alpha mainnet reached over $250m for the month of October, and over $900m to date.
Big thanks to our community for contributing to governance on the Vega community forums, and by submitting and voting on proposals on-chain. For any questions or comments about perpetual futures on Vega or to learn about and discuss the latest developments, join the conversation in Discord.
About Vega Protocol
Vega is Web3’s native derivatives layer. The community is creating the building blocks for a new financial system. One that puts control of the markets, the products, and the fees in the community’s hands. Vega is a decentralised network that supports the creation of derivatives markets for a variety of crypto assets. #FreeTheMarkets
