Community Update #79
200M+ Total Volume Traded, 100 Days of Alpha Mainnet, Calling Network Validators
Sharing updates from the Vega ecosystem and sometimes slightly beyond. To chat, learn and discuss more, see a full list of resources on LinkTree.
Contents:
Total Trading Volume - 200m Milestone
Market Update - 18.08.2023
Become a Validator - Calling Network Participants
Governance - Reduced Fees, Lower LP Stake, DOGE
BeInCrypto - Newsletter Feature
🫨 Alpha Mainnet: 200M+, 100 Days AND a new newsletter 🫨 Here’s the latest at Vega:
1. Total Trading Volume - 200m Milestone 🦾
In the first week of August, total trade volume across all markets surpassed $200m on Alpha Mainnet. The current all-time trade volume is at $235m and continues to rise as Vega enters 👉👉👉👉👇
as of August 17th 2023! Alpha Mainnet continues to be a successful test of how a trading-enabled version of the Vega network functions. Things are looking good as the team work towards Deployments 1, 2 and 3 in Q3-Q4 marking the shift to the V1 Mainnet release.
Help the protocol get there & provide feedback - Vega Trading Console 👾
2. Market Update - 18.08.2023 🔥
The latest market update as of August 17th 2023 has just been released. Check out the stats if you’re geeky like us and numbers interest you 🤓
3. Become a Validator - Calling Network Participants 🗳️
The Vega network is decentralised, being operated by independent validators. It uses CometBFT for consensus. The protocol currently rewards the 16 validators with the most total stake: 13 consensus validators and up to 3 standby validators.
To keep the network diverse and decentralised, new validators are encouraged to join the network and compete for stake to be standby or consensus validators at any time. While there is a limit to rewarded consensus and standby validator numbers, the number of candidate validator nodes is limitless.
The number of consensus and standby validators on the network is expected to increase over time, eventually rising to 20+ validators. The exact number will ultimately be determined by the community, as the number of validators is controlled by token holders through on-chain governance.
Read the full article and join the validator set - HERE
4. Governance - Reduced Fees, Lower LP Stake, DOGE 🐶
The most recent governance votes proposed by community members were covered in the Community Update 2 weeks ago - LINK.
Since then, all of the votes passed and fees on the Vega network have been reduced. For derivative traders, this makes the protocol more competitive with other DEXs/CEXs. Moreover, the reduction in LP Stake will allow for more Liquidity Providers to provide liquidity to new markets with far less staked. This change makes it more accessible for LPs with less capital to aid the network. Finally, DOGEUSDT is the 4th market added to mainnet with a unique underlying asset.
All of the above are good causes for the community to celebrate good governance in aid of the network, nice work 🐶
5. BeInCrypto - Newsletter Feature 😎
Dive into the world of Vega by BeInCrypto, here’s what they cover:
Read the full article - HERE
👥 Good governance leads to great markets, time for some more excellent validators 👥
- Daig 🍊 + Edo 🥝