The First Protocol for Custom-Built Derivatives Markets, Vega Sells $43M of VEGA Tokens to Democratize Traditional and Crypto Trading

GIBRALTAR, United Kingdom, July 20, 2021 /PRNewswire-PRWeb/ -- Vega has announced the closure of a $43M community sale on CoinList with over 21,000 unique participants. Describing itself as the "derivatives layer of web3," Vega's community is now larger than ever with the CoinList sale representing a significant milestone for community growth and expansion.

Commenting on the growth, founder Barney Mannerings expressed the breadth of Vega's scope: "We have rebuilt finance with open and peer-to-peer protocols that allow rapid innovation and fair access for all. Vega is tackling the biggest problems in DeFi head-on, including MEV, capital efficiency and scaling. The CoinList sale brings over 21,000 new members to Vega's community and brings DeFi to real world trading use cases."

Prior to the CoinList sale, Michael Arrington's fund Arrington Capital published a research report titled "The Space Race for Open Markets: Vega," where they describe Vega as a "true Blue Ocean opportunity" and "the multi-verse of markets."

Michael Arrington commented, "Vega is the free market for all markets. Anyone can create a market and traders can now customize risk models and market types in ways that have never been possible before, both in and out of crypto. Just as Uniswap revolutionized spot-based trading, we believe Vega will completely reimagine derivatives markets."

Vega aims to become the first DeFi protocol where market makers can not only launch and customize any derivatives product, they can align incentives between passive and active liquidity providers and other traders. Vega's openness ultimately serves the needs of not just professional market makers and trading firms, but individuals and SMEs looking to hedge or trade around any type of exposure.

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About Vega
Vega is the derivatives layer for web 3, built on a proof-of-stake protocol that bridges to all major blockchains. It is the world's first open protocol for creating flexible derivatives, allowing any blockchain to plug into Vega and leverage its high throughput, instant settlement, and low-fee trading capabilities. Vega aims to bridge traditional finance and DeFi, empowering anyone to manage risk and create new markets and ultimately serve the needs of all SMEs and traders around the world.

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SOURCE Vega