Vega Protocol unveils decentralized perpetuals on Layer 1 blockchain

Trading-focused blockchain Vega Protocol today rolled out perpetual futures markets, a type of futures product with no expiration dates, on the network. They will be permissionless, meaning community members will propose and vote to decide specific assets for which perpetual futures will be created. With this development, Vega is wading into a crowded field that includes dYdX, GMX, Gains, Synthetix, Perpetual Protocol and several others. Vega wants to differentiate its perpetual offering by granting the community the power to leverage on-chain governance for the introduction of permissionless markets. Furthermore, the project's community-led governance will have the option to approve any ERC-20 token for settlements via its governance mechanism, diverging from the norm of limiting settlements to USDC or equivalent stablecoins. “This release is a huge step forward for Vega and next generation DeFi. It brings perpetual futures, the most popular crypto-settled derivatives product — and one of the community’s most requested features — to Vega’s open and permissionless network," said Barney Mannerings, co-founder of Vega Protocol. Source