ABOUT VEGA

Vega is a proof-of-stake blockchain built on Tendermint, designed to let users trade derivatives on a decentralised network with an experience similar to centralised exchanges. 

Using a blockchain tailored for capital-efficient trading, alongside Ethereum and other general purpose chains, Vega is positioned to process and oversee risk across thousands of trades per second, with settlement assets such as Ether, BTC, and standard ERC20 tokens. Trading fees are charged only when trades are actually executed, while limit orders can be submitted, cancelled, and amended for free.

OUR MISSION

Vega aims to bring fair access to high-quality derivatives markets to everyone, no matter who they are or where they come from. We think it should be impossible for anyone to cheat or secure an unfair edge through wealth, social standing, or technical advantage. Vega is structured so that all participants receive equal benefits from competitive fees, and rewards match the value they contribute.

WHY THE WORLD NEEDS VEGA 

Vega makes finance openVega makes DeFi usefulVega makes trading fairVega is just for trading

FEATURES & TECHNOLOGY

ATOMIC MARGIN CALCULATIONS

The Vega trading engine relies on established risk models to set margin requirements for each market based on its expected volatility and open interest. With every new block, the network recalculates margin levels to give traders competitive leverage while keeping market safety intact

BUILT-IN LIQUIDITY INCENTIVES

Vega introduces a new liquidity mining approach in which liquidity providers (LPs) bid against one another to determine the trading fee for each market. This encourages low fees where competition is high, while still motivating liquidity for new markets that start with lower volume.

LOW LATENCY & HIGH THROUGHPUT

Designed specifically for trading, the Vega blockchain runs with a block-time of roughly one second and can handle thousands of transactions per second. There are no fees to create, cancel, or update an order. Instead, traders pay only when their order is matched with a counterparty (buyer or seller), or when making deposits and withdrawals, such as through the Ethereum bridge smart contract. 

PROTECTIVE AUCTIONS & PRICE MONITORING

The Vega network includes circuit breakers to keep trading within safe limits. When positions are highly leveraged, abrupt price changes can reduce available margin to cover open positions. To help guard participants from losses linked to manipulation or black swan-style events, the network monitors prices and launches an auction if spurious price movements occur.

PERMISSIONLESS MARKET CREATION

The Vega network lets users propose, adjust, and approve markets for any assets they want to trade with each other, without needing permission. By matching the incentives of liquidity providers, traders, and token holders, Vega supports quick market creation and opens up many new opportunities across the decentralised web.

PSEUDONYMOUS TRADING & GOVERNANCE

On Vega, both trading and governance are carried out by pseudonymous users. Traders don’t need to know one another’s identities to trade safely. Built-in incentive designs and robust protocol governance help ensure markets consistently reflect the best interests of all traders.

RICH USER-FRIENDLY APIS

The network provides market data and trading access through modern, easy-to-use APIs. Market access is offered via REST, RPC and GraphQL. Developers can create synchronous workflows with HTTP or build advanced real-time applications using streaming via web sockets.

THE VEGA TOKEN

The VEGA token is a standard ERC20 token that secures and governs the Vega network. At Mainnet launch, VEGA tokens will support the following uses:

THE ABILITY TO APPROVE NEW MARKETS

Active markets on Vega are selected by token holders through governance voting. Anyone can submit proposals to create, change, or remove markets. The token holder community collectively decides whether proposals are approved. Safe market design requires careful review and collaboration with liquidity providers. Vega empowers network stakeholders to help ensure the markets they need are prioritised and launched.

GOVERNANCE OVER THE NETWORK

Key network operations are managed through governance voting. For instance, governance can set the number of block confirmations before deposits are credited, or set participation thresholds for voting on new markets. Token holders are essential to keeping the Vega network safe and secure for decentralised trading.

STAKING VALIDATORS

The Vega blockchain uses delegated proof-of-stake for consensus. The network is made up of validator nodes that collectively operate markets by running the Vega software. Network security is provided through staking, where token holders select validators they want to run the network by delegating tokens to them. As rewards for securing and operating the network, fees are distributed to validators, token holders and liquidity providers.