Community Update #84
Intro to Cosmic Elevator, Perpetual Futures Markets on Vega, Perps Discount Incentive
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:
Road to Cosmic Elevator - Here we go!
Perpetual Futures - Soon on Vega
Market Update - 27.10.2023
Fairground Incentive - Perps Discount
☄️ It’s time… Cosmic Elevator has never been closer, ladies and gents!☄️ Here’s the latest at Vega:
1. Road to Cosmic Elevator - Here we go! 🔥
Deployment by validators of the Cosmic Elevator release will mark a new era of permissionless innovation! This software introduces perpetuals, Ethereum oracles, the ability to create on-chain referral programmes, and more for users of the Vega protocol. Thanks to Vega’s inherent permissionless market creation feature, community-proposed and approved perpetual markets will be possible. The new Ethereum oracle functionality is set to expand the universe of available oracles on Vega to any Ethereum smart contract. When combined with Vega’s app-chain design and permissionless market creation, it not only allows for more decentralised oracles but also empowers the Vega community to create many new and exciting markets, free from any intermediary. The Vega network will soon be ready for the inaugural community-driven perp market proposals through on-chain governance! Stay tuned for detailed deep dives into these features. Additionally, 'Perps Watch' will provide updates, sharing milestones on the road to live Perp markets on Vega 🏴☠️
2. Perpetual Futures - Soon on Vega 👀
Introducing… Perpetual futures 🔥 Cosmic Elevator will allow the creation of the first community-voted Perp markets, writing a new chapter of permissionless innovation in DeFi & eliminating centralised gatekeepers. Learn what's unique about trading Perps on Vega:
First, permissionless market creation. Anyone can propose a Perp market on any underlying asset, and the community decides which markets are created. This makes Vega uncompromisingly decentralised and aligned with the founding principles of crypto and DeFi.
Settlement assets on Vega are also totally flexible. While most Perp DEXs limit traders to USDC or other stablecoins, Vega allows the community to approve any ERC-20 token for market settlement via on-chain governance.
Perps on Vega are flexible & customisable. Market creators can adjust funding calculations & payment frequency to best suit the underlying market. Traders can use the tools in the market creation framework to strategise across different markets & asset classes.
The upcoming network upgrade, Cosmic Elevator, will bring Ethereum oracles and adaptable settlement inputs, allowing users to trade on a broader range of markets. With this development, the community will benefit from the composability of Vega’s optimised app-chain and Ethereum’s Oracle ecosystem for settlement price data.
3. Market Update - 27.10.2023 🔥
Mainnet stats continue to fuel the Vega fire🔥 On October 24th, our daily trading volume reached an all-time high, soaring to $13.7M in USDT! And here's more exciting news: We've eclipsed the $700 million milestone, $800 million here we come!
4. Fairground Incentive - Perps Discount 🎠
The Vega4testing continues 💅 Perps Discount will run until Tuesday, October 31st at 2:00 pm UTC, and will include a discount factor, referral and rewards game, this time on BTC/I-USDT. Join a referral set, create a referral set, and receive rewards from the reward pool for the highest average position, keep your volume up each epoch in order to have the most volume discount factor at the end of incentives, in order to make it simple we add together the percentage of each epoch's volume discount. TAKE PART → HERE ←
You know it’s all about incentives testing before a release… Cosmic Elevator here we come ☄️
🫡 It’s a short and sweet update, big weeks ahead Vega gang 🫡
- Edo 🥝