A Decentralized Derivatives Protocol
Decentralized finance is innovating on market access for trading, lending, making markets and more. The DeFi industry overall has the potential to realize more efficient economics for all participants. It is early days for DeFi and the market for decentralizing infrastructure for new applications and use cases is growing.
Exploring this developing industry requires building, partnering with and investing in great teams that are aligned with the future of finance. As we build out our own engineering team, Xpring will continue to engage with DeFi teams and communities to support the future of DeFi including the derivatives industry – a trillion dollar market.
I am pleased to announce our investment in Vega Protocol. Vega is a protocol for creating and trading derivatives on a fully decentralized network. It is designed to work with multiple currencies where assets are collateralized on its host chain. The Vega network allocates the collateralized assets across markets using cross shard communication.As a proof of stake protocol, Vega uses tendermint as its consensus layer. First, Vega will support integration with Ethereum to allow Ether and ERC20 tokens to be used as collateral, but the design enables it to interoperate with other assets and networks. Their team took this into account at the early stages of their design.
This premise for collateralizing assets to work in an interoperable environment was most appealing as we explore new use cases for XRP and the future of decentralized finance. Vega’s vision to create an open and decentralized network will enable the freedom to trade and make capital markets broadly available. Vega will continue to build their network and explore opportunities to add other assets as collateral, including XRP.
Vega’s team comes from a diverse background in scaling a major global stock exchange, leading trading desks and co-founding Chainspace, a blockchain offering scalable sharding for smart contracts. Join the discussion and find out about upcoming events in Vega’s forums at community.vega.xyz To learn more about the protocol and career opportunities, visit vega.xyz
