Vega Restricted Mainnet is live!
Recently Vega Protocol announced a start of validators onboarding as the second of three launch phases, in which the public Vega chain becomes live for staking and governance. This phase was called Restricted Mainnet.
There can be only 13 validators at the start of the Restricted Mainnet phase, and we are happy to announce that Ryabina became оne of them!
What Vega Protocol is and why Ryabina decided to join? Read our overview below!
What is VEGA?
Vega is a protocol for trading margined financial products on a fully decentralised network. Basically, it lets people trade safely, with margins, and without requiring custody. This is made possible by standardising and automating every step of the trade lifecycle.
Any participant will be able to easily create and launch markets, pseudonymously, by using a toolkit of product features and economic primitives from which all cash flows and settlement instructions can be easily specified.
Vega is writing rules for rewards and incentives that balance the system, keep it fair, and help it grow. These incentives match traders and market makers across any financial product, to solve the problem of attracting and allocating market making resources, especially for long-tail markets.
Vega runs on it’s own Tendermint-based blockchain with sub-second block times and is optimised to make trading as safe, fair, and high performance as possible. Bridges to most major blockchains will allow for use of almost any collateral, including Bitcoin, ERC20 tokens, and stable coins.
The protocol will eventually be a free and open source software governed by the community, so that it can develop and evolve with the needs of its users.
What features does it have?
- Fast network, optimised for trading. Vega’s purpose built blockchain has sub-second block times and is optimised for fully decentralised trading. Read about validators and staking
- Next generation liquidity mining Vega’s advanced incentivisation system directs liquidity to the markets that need it most. Trading fees are determined by competitive bidding for each market, ensuring the best price is achieved for both traders and liquidity providers. Early supporters of markets earn a larger share of the fees that are distributed through Vega’s unique liquidity provision share mechanism.
- Capital efficient permissionless derivatives The protocol is designed as a toolbox of optimised components that allow the community to permissionlessly propose and create markets for almost anything. More on market creation with VEGA
- Native cross-chain support, starting with ethereum Vega is designed from the ground up to integrate with Ethereum and other emerging DeFi ecosystems, rather than compete with them. All assets traded on Vega originate on other chains, and the bridge protocol makes deposits and withdrawals as easy as for native dApps.
- Rich, developer friendly APIs Vega is built on a set of advanced financial and trading primitives, with a technical architecture that allows for near infinite flexibility for building financial applications. Vega nodes expose rich data about governance, markets, orders, trades, prices, margins, positions, and much more. Data is accessible via easy to use and comprehensive gRPC, GraphQL, and REST APIs. Browse VEGA docs
Nominate VEGA tokens to Ryabina: https://token.vega.xyz/staking
Our public key: 437a951ef5f30cccf8840fec47798d456512269fee7bae82b43630861d04cbca
Staking guide: https://blog.vega.xyz/staking-on-vega-17f22113e3df
What to know more?
- Whitepaper — answers most of questions about how every feature from above is achieved.
- Barney from Vega Protocol speaking at KRYPTONIGHT LONDON — well recorded and well prepared talk about VEGA, it’s roots and implications.
Ryabina is a validator and blockchain software developer. Launched in 2019, it has extended its activities to various Substrate-based, Tendermint-based and Ethereum-based networks. From the very beginning our team included professional builders, developers, DevOps engineers and project managers. As a validator, Ryabina runs a 100+ nodes in 17+ networks including Band, Kava, ETH 2.0, Polkadot, Celo, The Graph with fair rates and continued support to the community.
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