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Vega launches a Market Makers program before launching its public test network

June 4, 2020

The decentralized financing protocol (DeFi) Vega has started a program to give market makers early access to the platform before launching its public test network.

Vega understands a proof-of-stake protocol that makes it easy to create leveraged financial products.

Vega’s Liquidity and Market Makers Program has already attracted liquidity providers based in the United States, Israel, Singapore, Australia and Switzerland.

Market makers had early access to Vega

Vega launches a Market Makers program before launching its public test network
Vega launches a Market Makers program before launching its public test network

The startup believes it can attract strong liquidity by offering liquidity providers significantly higher returns than traditional exchanges.

Vegas co-founder Tamlyn Rudolph speculated about it Market makers could earn ten to twenty times more than traditional centralized platformsand said, “We have resolved the typical costs of exchanges and most of the retained earnings have been passed on to Vega’s market makers.”

Rudolph explained that Vegas’ model is to reward liquidity providers “for the high quality activity of incubation and growth of healthy markets“It is estimated that market makers get between 50% and 70% of total revenue from fees generated on the platform.

“We recognize the essential value that market makers and innovators offer The protocol vigorously rewards the added value they add with a share in the total sales of each market“said Vega co-founder Barney Mannerings.

“Today’s market infrastructures benefit from fantastic economies of scalethat are currently helping to fill the pockets of exchanges and other rental seekers while overwhelming traders for services that should be cheap or free, “he added.

Vega will shortly set up a public test network

In addition to access to Vega’s private test network Program members have access to the Vega protocol design, technical teams and toolsand they get information about the characteristics of the protocol and the roadmap.

Vega started its protocol in March on the private test network;; Manners emphasized his intention to open Vegas Open Source at a later date.

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