Vega is a proof-of-stake protocol that positions itself as the derivatives layer for web3, enabling anyone to create flexible, custom-built derivatives markets. The protocol claims high throughput, instant settlement, and low-fee trading, and allows any blockchain to plug into Vega. Its product focuses on aligning incentives between passive and active liquidity providers and supporting both professional market makers and individual traders and SMEs. Vega aims to bridge traditional finance and DeFi, tackling issues such as MEV, capital efficiency, and scaling. The project emphasizes open, peer-to-peer markets and rapid innovation in derivatives. The company expanded its community to over 21,000 unique participants through a recent token sale. Vega is building a decentralized protocol for creating and trading derivatives markets, aiming to remove centralized gatekeepers and decentralize governance. The protocol seeks to enable instant settlement, reduce fees, eliminate conflicts of interest, and provide the throughput needed for high-volume derivatives trading. Founder Barney Mannerings launched the project in 2018; Vega launched a testnet in Q2 2020 and has iterated on it since. Its wallet software is free and open-source, and the company has issued roughly 500 hosted-wallet IDs for testnet access. Vega plans to use the new capital to ship and test high-quality code and is preparing a mainnet-ready release this summer, after which validators are expected to connect the Vega network to the Ethereum mainnet to enable trading of real crypto assets. Financially, the startup raised $5M in the latest round, bringing total disclosed funding to more than $10M per Crunchbase. Vega is developing a protocol for creating and trading derivatives on a fully decentralized, layer-2 network designed to avoid performance and market fairness issues on layer-1 blockchains. The protocol enables pseudonymous trading and rewards participants for creating new products and providing liquidity. The company is led by founder Barney Mannerings and is based in Gibraltar. Vega is focused on completing and testing the first version of its core protocol and is launching community initiatives to engage developers, traders, and ecosystem partners. The team expects to launch a private test network demonstrating margin trading with test assets imminently, with plans to expand into a publicly available testnet soon after. Vega raised more than $5M in seed funding to support these development and community efforts.

Total raised

$53M

Funding rounds

3

Latest round

Initial Coin Offering

Latest activity

Jul 2021