Layer 1 blockchain Vega proposes to shut down Vega Alpha mainnet and VEGA token and launch new project Nebula
On September 3rd, Vega Protocol, a Layer 1 blockchain focused on derivatives trading, proposed to shut down the Vega Alpha mainnet and token VEGA in the coming months and instead focus on the development and promotion of protocol software. They will launch a new project called Nebula, which plans to introduce its own chain running the Vega protocol. Nebula will have its own token, NEB, and VEGA token holders will have the opportunity to exchange their VEGA for this new token at a 5:1 dilution. Vega will redistribute the on-chain treasury to stakers and provide guaranteed USDT incentives to validators to keep the network running for the next two months, allowing users to withdraw funds from Vega DEX. Relevant governance voting will end on September 6th.
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