Vega, a blockchain project that is building a decentralized protocol to run infrastructure for programmable financial markets, announced its Markets and Liquidity Programme, which will grant liquidity providers exclusive access to the Vega Protocol ahead of its public Testnet launch.
“Market infrastructure benefits from fantastic economies of scale, which currently help to line the pockets of exchanges and other rent-seekers while traders are charged excessively for services that should be cheap or free”
Following the launch of its private testnet, Vega has designed the Markets and Liquidity Programme for organizations to evaluate Vega Protocol commercially and technically. The programme joins stakeholders in a collaborative effort to ensure a successful mainnet launch – one that meets the needs of traders, market makers, and the other participants in the ecosystem.
Read More: WorldRemit Partners with Wizall Money to Launch its First Mobile Money Transfer Service to Senegal
“We anticipate market makers could earn 10 to 20 times higher returns by deploying collateral on Vega Protocol as opposed to traditional exchanges,” said Vega co-founder Tamlyn Rudolph. “We have disintermediated the typical expenses incurred by exchanges, with the preserved profit largely redirected to the market makers on Vega. They are rewarded for the high value activity of incubating and growing healthy markets and can expect to receive 50 to 70 percent of fee revenue from trading on Vega.”
Vega aims to close the gap between niche crypto speculating and professional market making with its protocol for commercially attractive, professional quality derivatives trading that makes the process of market creation simple and open to all participants. It sees the Markets and Liquidity Programme as a critical first step.
Read More: Celsius Network and Prime Trust partner to secure depositors funds and offer low-cost credit
Founding members of the Liquidity and Market Marker Programme include:
- FRACTAL (Los Angeles)
- E-Frontier (San Francisco & Tel Aviv)
- flovtec (Zurich)
- QCP (Singapore)
- Hummingbot (San Francisco)
- Proxima (Sydney)
- Luxor (New York)
“We are excited to break ground on this initiative with Vega,” said Carson Cook, FRACTAL founder. “Decentralized exchanges offer a new and innovative landscape, and Vega’s focus on professional traders and excellent built-in incentives for market makers make it one of the most interesting new protocols out there.”
Read More: Finhabits Launches Microlearning Journeys to Help Diverse Communities Build Healthy Financial Habits
