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Vega Token Sale on CoinList Starts Today

UTC by Patrick Kariuki · 3 min read
Vega Token Sale on CoinList Starts Today
Photo: Unsplash

Vega is a Tendermint-based proof of stake protocol that facilitates easier trading derivatives in a decentralized network the user experience is comparable to other blockchains.

In May, 2020, CoinList announced an upcoming sale for the Vega Token, scheduled for June 2020. The sale commenced today, June 2 at 00:00 UTC. The following three price tiers, having different terms are available to eligible participants.

  • Option 1: Token price: $5. 12-month lockup, 12-month release period and $1000 thereafter.
  • Option 2: Token price: $10. 6-month lockup, 60month release period and $2500 thereafter.
  • Option 3: Token price: $15. Free trading after 90 day-lockup, maximum $10,000.

About Vega

By default, the Vega is designed to be a proof of stake for blockchains and a Web3 derivative. The token’s scaling layer is open and highly flexible. It can only be likened to investment banking grade software.

Vega is a Tendermint-based proof of stake protocol that facilitates easier trading derivatives in a decentralized network the user experience is comparable to other blockchains. Vega maximizes the power of the other general purpose blockchains to give it an edge and the capacity to process many transactions each second.

The good thing about Vega is that fees are due once trades are executed. Additionally, limit orders can be submitted, amended, or cancelled for free. The token comes with liquidity incentives (built-in), and market creation (pseudonymous) that provide ready high-quality, uncensored, unrestricted and robust markets to everyone in the world.

Vega Features

The following are some of the reasons why Vega has already attracted the attention of the crypto community on CoinList.

Market Creation

To begin with, market creation is permissionless. By way of governance voting, the power to create active markets is vested in the token holders. Regardless of the global positioning, anyone can submit proposals for the creation, alteration, cancellation of markets, as long as one is a registered Vega member. Additionally, the mandate to approve or disapprove proposals can only be exercised by members only.

In order to provide a safe and secure market, thorough market analysis and a good relationship with the liquidity providers is of utmost importance. Besides the good market environment, Vega gives token holders the power to prioritize and create the markets they’re interested in.

Staking

Proof of stake and Validator nodes provide a faster way to arrive at a consensus. Simply put the nodes are what run the network and ultimately operate the markets. Staking provides maximum security to the network. Basically, preferred validators are chosen by allocating tokens to them. Network trading fee generated is shared by all stakeholders including the token holders, liquidity providers, and Validators.

Market Regulation

Governance voting is also crucial when it comes to regulating and controlling market activity. Additionally, governance voting controls issues such as the number of blocks applicable prior to the crediting of deposits and the minimum threshold required for voting.

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Patrick Kariuki

Patrick is an accounting & economics graduate, a Cryptocurrency enthusiast, and a Blockchain technology fanatic. When not crafting informative pieces on any of the above subjects, he will be researching on how the Blockchain technology can transform the world, particularly the financial space.

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