TechFlow news: Vega Protocol, a Layer 1 blockchain focused on derivatives trading, recently successfully approved its first on-chain market through community governance. Additionally, the community passed a proposal for an interoperability bridge with Ethereum.
Currently, the network supports only cash-settled futures markets, but plans to gradually add spot, perpetual, and other types of markets in the future.
Besides trading functionality, the Vega core team also plans to launch a browser wallet and integrate a software feature called Wendy to provide on-chain traders with Miner Extractable Value (MEV) protection.
Notably, the Vega core team released its whitepaper in 2018, completed a $5 million seed round led by Pantera Capital in 2019, and raised $43 million through a community token sale on CoinList in 2021. Vega launched on mainnet on May 10.
