Vega Protocol Unveils DeFi Perpetuals on Layer 1
Blockchain with an emphasis on trading Perpetual futures markets, a kind of futures contract without an expiration date, were launched on the network by Vega Protocol.
These perpetuals on Vega are a complement to the current services offered, including as cash-settled futures markets, which have been available since Vega’s mainnet launch in March 2023.
They will be permissionless, which means that community members will put forth ideas and cast votes to choose which particular assets will be given permanent futures. With this move, Vega is entering a competitive market that is already home to dYdX, GMX, Gains, Synthetix, Perpetual Protocol, and a number of other companies.
Vega aims to set itself apart from the competition with its eternal offering by giving the community the ability to use on-chain governance to build permissionless marketplaces.
(With inputs from Shikha Singh)
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