Connect with us
[crypto-donation-box]

Blockchain

What is Vega Protocol? Creating Derivatives Markets on Blockchain

Republished by Plato

Published

on

Vega Protocol is a technology designed to help facilitate a blockchain-powered public network for full end-to-end trading and execution of financial products.

In a traditional financial system, financial products and services are dependent on the organizations and individuals who use technological systems to create and execute contracts. This poses a challenge of entry as these technologies vary in sophistication, cost, and effectiveness.

While some organizations have been able to find a way around this issue, some aren’t as lucky, which is why we have some markets that are more manually intensive while others are more technology-intensive. Regardless of this issue, the third party problem still exists, and with it, the presence of censorship and regulations that control the availability of products and the creation of markets. This is the challenge that Vega Protocol is looking to solve by creating a decentralized platform for these financial products where no one individual or organization would pose a substantial risk to a market.

Table of Contents

Background

Vega Protocol is led by Tamlyn Rudolph, who has over 14 years of experience trading in volatile power markets. Rudolph also had interests in the trading and settlement of derivatives. As it turns out, the potential blockchain holds in usurping the system’s around money fascinates her.

Other team members have experience spanning different fields of the crypto space and have achieved considerable success with the level of their outputs in the industry.

What is Vega Protocol?

Vega Protocol is a technology designed to help facilitate a blockchain-powerd public network for full end-to-end trading and execution of financial products. The protocol helps to solve the issue of attracting and allocating market-making resources in a decentralized system.

It functions as a decentralized platform that enables financial products to be available to the general public on a more equal basis. With Vega, access to these markets becomes available to all and the creation of these markets and products would not depend on a central authority or organization.

With its smart product feature, users of the platform are able to create new products and at the same time, propose new markets. The protocol essentially allows for markets to be open and decentralized by fully automating all processes while also providing incentives for trading activities.

The platform also allows for settling financial products between these market participants. To fully achieve this, the protocol uses a set of carefully planned mechanisms of economic rewards and penalties to balance the innovative platform. And at the same time, it helps to protect the market generally and the participants in such markets.

What Is a Market in Vega?

A market in Vega Protocol deals with a tradable instrument that has been set to a particular method of trading. Markets have life cycles and are dependent on instruments, risks, and even governance to determine if they would be proposed, activated, suspended, or closed.

There two types of markets: open and ad-hoc markets. An open market is open to all sufficiently collateralized participants to transact while an Ad-hoc market is created on a needs basis by a participant who needs the market to fulfill a certain trading agreement.

What Is a Market Maker in Vega?

A market maker is a trader on the platform that has chosen to participate in the market-making process by placing a stake on one or more markets available on the protocol. One does this with the intention of being able to receive certain rewards for participating in the process.

A market maker plays a pivotal role in the protocol as they are saddled with providing liquidity for the market, which is why the Vega Protocol has incentivized market-making as they invariably act like owners or operators.

Market maker funds are held at the base currency of the market, and the size of this fund determines the minimum volume that can be deployed to each side of an order book.

There are two types of market makers on this platform. They are:

  • Active market maker

This individual actively participates in managing a price strategy for their marketing volume. 

  • Passive market maker

On the other hand, this individual allows participants to support the market whilst also providing liquidity. Here, this market maker has no need to actively make prices or risk-manage a portfolio of positions.

Insurance pool

All markets would have an insurance pool that can be used as a layer of collateral protection in situations where there is a shortfall or when a distressed trade is being closed out. 

Market insurance pools would not contain any funds immediately after a market is created. At the closure of a market by a governance action, the available insurance pool is then shared among the markets with the same base currency.

Features of Vega

Vega has the following features that sets it apart from its competitors, which are:

  • Liquidity incentive
  • Collateral Options

Liquidity incentive

Vega has a built-in liquidity incentive that matches traders and market makers together across varying financial products.

The liquidity incentive of the market helps the protocol cater to markets with different trading volumes at different points of the market lifecycle. 

The markets achieve this through the facilitation at the protocol level of dynamically priced liquidity, which recognizes that market making is capital intensive and thus aims for a market-driven solution that efficiently balances the need for order book depth on the one hand with a preference for low fees on the other.

Collateral options

Vega Protocol needs to connect to major blockchains in order to use crypto-assets such as Bitcoin, Ethereum, other ERC-20 tokens, and even stablecoins as collateral.

The protocol depends majorly on these collaterals to avoid being closed out. To effectively do this, the collaterals in base currency and other assets are held and managed in a decentralized way by the network.

Collaterals are placed under Vega network’s control.

Market creation

The ease of market creation on the platform makes it easy for any participant to create and launch markets.

The participants on the platforms have a wide range of toolkits of product features and economic primitives to easily carry out cash flows and settlement instructions from the market makers.

Vega’s Decentralized Governance 

The protocol is designed to run without any human intervention. Instead, its operational governance is defined by rules embedded in the platform. This allows for on-chain governance, which is the key function that enables the creation and maintenance of a highly decentralized environment.

It should be noted that the network governance in Vega does not intend to replace all forms of other governance on the public Vega ecosystem, but only on-chain aspect.

Conclusion 

As a protocol that looks to facilitate a decentralized marketplace where every trader can create and execute financial products, Vega could help solve many issues such as attracting market-making resources, enabling a product to be available to the general public.

There is also the issue of regulation and entry barriers that vary based on the sophistication of technology that central bodies used to create these markets. Fortunately, with Vega, all of these challenges are solved.

The protocol has designed different toolkit features that would be used to efficiently build markets and also develop a way to use them in a simple way.

Source: https://www.asiacryptotoday.com/vega-protocol/

Blockchain

NASCAR Driver Landon Cassil to be Paid in Bitcoin and Litecoin

Republished by Plato

Published

on

Popular NASCAR driver Landon Cassill will soon become the first auto racing driver to receive his salary in cryptocurrency via a new partnership with crypto brokerage firm Voyager Digital Ltd.

First Auto Racer To Receive Crypto Salary

In an official announcement today, the National Association for Stock Car Auto Racing, LLC (NASCAR), an American auto racing sanctioning and operating company best known for stock car racing, revealed that Cassill will be paid fully in cryptocurrencies, especially Litecoin (LTC) and the Voyager Token (VGX).

The partnership deal will see Cassil drive a purple No. 4 Chevrolet Camaro customized with a full Voyager-branded car wrap in 19 NASCAR Xfinity Series races this season across 16 states. The first race is due to start this Saturday at the Tennessee Lottery 250 at Nashville Superspeedway. 

A Crypto Proponent

Cassil admitted, via a telephone interview, that he had been a long-term crypto user and had only been searching for the right agency to partner with. He noted that many of his fans of late are crypto users, and the crypto industry has been seeing a lot of mainstream attention from retail investors. 

“I’m a crypto user, and I’ve been involved for several years. This is something I’ve wanted to do for a while, but it was about finding the right partner to do it. A lot of my fans are crypto users, and as of late, there’s been a lot of mainstream, retail attention on it. So from a community perspective and an athlete speaking for a space, timing was perfect this summer,” Cassil  said. 


ADVERTISEMENT

The NASCAR driver had allegedly met Steve Ehrlich, Voyager’s CEO, at a Litecoin summit two years ago, and they instantly hit it off due to a shared interest in cryptocurrency. 

Speaking on the partnership, Ehrlich said:

“Landon Cassill’s focus and determination on the race track translates across everything he does, which is why we’re honored to partner with him in this season’s Xfinity Series. Landon also shares our vision of widespread crypto adoption, and we’re proud to be the first company to secure a primary NASCAR sponsorship completely with crypto…I think it’s really important that the people you do business with have a crypto understanding.”

Crypto Salaries

Litecoin founder Charlie Lee, who also admitted that Cassil has been a strong supporter of Litecoin and the crypto industry for several years, believes that the “landmark deal shows the growing reach of the Litecoin community into the professional sports world and eventually beyond.”

While Cassil will be the first auto racing driver to receive crypto payments, cryptocurrencies for salaries in the sports industry are not entirely new. In April, CryptoPotato reported that employees and players of the NBA giant, the Sacramento Kings, would be able to receive a significant part of their salary in Bitcoin. 

Featured image courtesy of The Podium FInisi

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/nascar-driver-landon-cassil-to-be-paid-in-bitcoin-and-litecoin/

Continue Reading

Blockchain

WAVES Technical Analysis: Price Can Move Either Ways

WAVES Technical Analysis: Price Can Move Either Ways

Rate this post Waves.tech is a blockchain-based ecosystem that supports the development of innovative applications for everyday-use practical implementation. It leverages the power of three robust blockchain protocols to provide user-friendly development infrastructure and easy-to-use tools. WAVES is the prime governance token of this open-source protocol. The technical analysis for WAVES is as below. Past Performance On Jun 11, 2021, WAVES opened at $14.04. On Jun 17, 2021, WAVES closed at $18.35. Thus, in the past week, the price has increased by roughly 31%. In the last 24 hours, WAVES has traded between $17.34-$18.95. https://platoblockchain.net/wp-content/uploads/2021/06/waves-technical-analysis-price-can-move-either-ways.png Day-Ahead and Tomorrow Currently, WAVES is trading at $17.76. The price has decreased from the day’s opening price of $18.35. Thus, the market seems bearish. The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Plus, both the lines are close to the zero line and may turn positive again. Hence, we can expect the price to start rising. Currently, the RSI indicator is at 48%. It faced rejection at 55% and fell to the current level. Hence, selling pressures are high. Heavy offloading of crypto will push WAVES prices further down. Besides, the OBV indicator is downward sloping. Thus, selling volumes are higher than buying volumes. High selling activity will exert downward pressure on the WAVES price. As of now, all three indicators have shown a bearish market momentum. However, the MACD oscillator has given indications of an impending trend reversal or temporary price correction amidst an overall bearish trend. WAVES Technical Analysis Currently, the price is below the Fibonacci pivot point of $18.21. It may soon fall below the first Fibonacci pivot support level of $17.60. Thereafter, we have to wait and watch if the price starts rising or continues to fall further. The price has tested and fallen below the 61.8% FIB retracement level of $17.95. The price may soon fall below the 76.4% FIB retracement level of $17.72 as well. Thus, by day end, if the price retests and breaks out of these levels, then probably a price uptrend has set in. In that case, the price may continue to increase tomorrow as well.

The post WAVES Technical Analysis: Price Can Move Either Ways appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

Published

on

Table of Contents

Rate this post

Waves.tech is a blockchain-based ecosystem that supports the development of innovative applications for everyday-use practical implementation. It leverages the power of three robust blockchain protocols to provide user-friendly development infrastructure and easy-to-use tools. WAVES is the prime governance token of this open-source protocol. The technical analysis for WAVES is as below.

Past Performance

On Jun 11, 2021, WAVES opened at $14.04. On Jun 17, 2021, WAVES closed at $18.35. Thus, in the past week, the price has increased by roughly 31%. In the last 24 hours, WAVES has traded between $17.34-$18.95.

https://platoblockchain.net/wp-content/uploads/2021/06/waves-technical-analysis-price-can-move-either-ways.png

https://platoblockchain.net/wp-content/uploads/2021/06/waves-technical-analysis-price-can-move-either-ways.png

Day-Ahead and Tomorrow

Currently, WAVES is trading at $17.76. The price has decreased from the day’s opening price of $18.35. Thus, the market seems bearish.

READ  WAVES Technical Analysis: Expected to Fall Below $19.45 and $18.72

The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Plus, both the lines are close to the zero line and may turn positive again. Hence, we can expect the price to start rising.

Currently, the RSI indicator is at 48%. It faced rejection at 55% and fell to the current level. Hence, selling pressures are high. Heavy offloading of crypto will push WAVES prices further down.

Besides, the OBV indicator is downward sloping. Thus, selling volumes are higher than buying volumes. High selling activity will exert downward pressure on the WAVES price.

As of now, all three indicators have shown a bearish market momentum. However, the MACD oscillator has given indications of an impending trend reversal or temporary price correction amidst an overall bearish trend.

READ  Why Litecoin’s Ambitious Surge to Dethrone XRP Was Short-Lived

WAVES Technical Analysis

Currently, the price is below the Fibonacci pivot point of $18.21. It may soon fall below the first Fibonacci pivot support level of $17.60. Thereafter, we have to wait and watch if the price starts rising or continues to fall further.

The price has tested and fallen below the 61.8% FIB retracement level of $17.95. The price may soon fall below the 76.4% FIB retracement level of $17.72 as well. Thus, by day end, if the price retests and breaks out of these levels, then probably a price uptrend has set in. In that case, the price may continue to increase tomorrow as well.

#WAVES

Source: https://www.cryptoknowmics.com/news/waves-technical-analysis-price-below-the-fibonacci-pivot-point-of-1821can-move-either-ways/

Continue Reading

Blockchain

MTI Co-Owner Repels Liquidation on Their 1600 Bitcoin (BTC) Scam

MTI Co-Owner Repels Liquidation on Their 1600 Bitcoin (BTC) Scam

The co-owner of MTI, Clayton Marks owns about 50% of the Mirror Trading Investment (MTI). He reluctantly repels and is defensive on the latest liquidation put upon MTI for their Bitcoin (BTC) scam. The MTI BTC Scam The Mirror Trading Investment (MTI) based in South Africa, is a cryptocurrency trading investment firm. Their main trading …

The post has appeared first on thenewscrypto.com

Republished by Plato

Published

on

The co-owner of MTI, Clayton Marks owns about 50% of the Mirror Trading Investment (MTI). He reluctantly repels and is defensive on the latest liquidation put upon MTI for their Bitcoin (BTC) scam.

The MTI BTC Scam

The Mirror Trading Investment (MTI) based in South Africa, is a cryptocurrency trading investment firm. Their main trading schemes are based mostly on Bitcoin (BTC)

Speculations rose massively upon their Bitcoin (BTC) scam between 2019 and 2020. The scam accounted for about 1600 Bitcoins. Besides, all these 1600 BTCs acquired by MTI are based on funds sourced by the investors. MTI started this scam scheme marketing it as extreme high returns of 0.5% on daily basis on the investment by the investors. Also, depicting yearly gains of almost 500%. In addition, they portrayed their scheme and justified it showcasing the use of artificial intelligence-powered algorithm trading software sourced from exile. 

By the year 2020, MTI accumulated about 1600 BTCs and started to collapse before August 2020. By July 2020, the Texas State regulators officially announced that the MTI BTC scheme and overall MTI is a scam. Once branded a scam, the funds of the MTI platform of 1600 BTCs were transferred to a brand new FX trading platform. However, the MTI denies any such transfer of accounts. In Spite of this, complaints from the investors started to rise upon them being unable to withdraw their funds deposited. On the other hand, as soon as complaints started to flow in, the CEO of MTI, Johann Steynberg disappeared and went anonymous. 

Nevertheless, citing all this, the MTI BTC scam has been ranked the biggest cryptocurrency scam of the year 2020.

The Liquidation and Clayton’s Disapproval

Meanwhile, by the end of 2020, investors started to protest cases for the complete liquidation of MTI and release whatever funds they could get back on their investments. Ever since then, the case is still going on for the final judgment for the judiciary.  The court’s final judgment is yet to appear upon liquidation of MTI. Yet, many liquidators are fighting profusely for the court to grant it. 

On the other hand, Clayton Marks who owns about 50% of MTI opposes the put forth of the liquidators. Adding to this, Marks propagates the liquidation process has not been carried out properly by the team of liquidators. Furthermore, Clayton insists, he and his wife, Cheri Marks, who is actually the head of communications of MTI, were not served the notice for it. 

In addition, Marks exclaims by recovering the 1200 BTCs which is the actual presence in the FX platform account which is from MTI, would solve the entire liquidation. 

However, Marks persists liquidating MTI wouldn’t help in pacifying the investors. Also, he remarks the best solution for this is to find Johann Steynberg and rightfully ask him to rectify his 

wrong-doings.

As of now, the judgment has been reserved. Yet, the legal team of liquidators is confident in passing the final judgment for the liquidation of MTI.

Source: https://thenewscrypto.com/mti-co-owner-repels-liquidation-on-their-1600-bitcoin-btc-scam/

Continue Reading
4 days ago

Valorant Ep. 2 FORMATION Player Card: How to Claim

News3 days ago

The World Economic Forum’s Cryptocurrency Guide Lists Its Choice Of “Winning” Projects

Uncategorized4 days ago

Mark Cuban: DeFi could be the ‘next great growth engine’ for the US

Uncategorized1 day ago

The World Bank wants no part in El Salvador’s Bitcoin revolution

News5 days ago

Shiba Inu Drops Hard Below Critical Support Level

Uncategorized3 days ago

Banks Should be Scared of DeFi Warns Mark Cuban

Blockchain3 days ago

Grayscale to Unlock 16,000 Bitcoin Shares on July 19

Blockchain5 days ago

Will Ripple’s new ODL corridors impact XRP’s price?

Blockchain4 days ago

Mark Cuban Demystifies DeFi and Yield Farming for Beginners

Blockchain5 days ago

Elon Musk: Tesla Will Resume Allowing Bitcoin Transactions With One Condition

Blockchain2 days ago

Coinbase Pro to List Dogecoin Rival Shiba Inu, Token Gains 33% in Price

Blockchain4 days ago

Edgewater Markets Taps Michael Cleary as Its New Director of Sales

Uncategorized5 days ago

PSG.LGD sweep Evil Geniuses, win WePlay Esports AniMajor

Blockchain4 days ago

Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Uncategorized1 day ago

Healthcare: A trillion dollar opportunity for blockchain?

5 days ago

PSG.LGD triumph at WePlay AniMajor

Blockchain3 days ago

Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Blockchain4 days ago

Wall Street Wonders if Bitcoin Could Replace Fiat Currencies

Uncategorized5 days ago

Why NFL’s Russell Okung Asked Nigeria To Adopt The Bitcoin Standard

Blockchain4 days ago

All About Solana And Why It’s The Game-Changer Crypto Of The Year

Trending