{"id":136711,"date":"2024-09-04T11:00:36","date_gmt":"2024-09-04T08:00:36","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136711"},"modified":"2024-09-03T17:18:22","modified_gmt":"2024-09-03T14:18:22","slug":"crypto-protocol-proposes-shutdown-and-transition-to-new-project","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-protocol-proposes-shutdown-and-transition-to-new-project\/","title":{"rendered":"Crypto Protocol Proposes Shutdown and Transition to New Project"},"content":{"rendered":"<p>In a recent <strong><a href=\"https:\/\/blog.vega.xyz\/vega-the-next-phase-680e4c34252f\" target=\"_blank\" rel=\"nofollow\">announcement<\/a><\/strong>, Vega outlined its intention to focus on advancing its software and launching a new project named \u201cNebula.\u201d This new project will be a fully decentralized exchange (DEX) with dedicated liquidity, built upon the existing Vega protocol.<\/p>\n<p>Nebula will introduce its own token, NEB, and VEGA token holders will have the opportunity to exchange their tokens for the new NEB token.<\/p>\n<p>The proposal details plans to halt trading, redistribute funds from the on-chain treasury to stakers, and offer incentives to validators to keep the network operational for the next two months. This period will allow users to withdraw their assets from the Vega DEX.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/ton-hits-1-billion-transactions-amid-memecoin-airdrop-disruptions\/\" title=\"TON Hits 1 Billion Transactions Amid Memecoin Airdrop Disruptions\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/06\/toncoin-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">TON Hits 1 Billion Transactions Amid Memecoin Airdrop Disruptions<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>After this transition, it will be up to validators to decide whether to continue operating nodes. With no trading and no new issuance of VEGA tokens, the existing mainnet is expected to cease functioning.<\/p>\n<p>The proposal has garnered substantial support, with 1.7 million tokens voting in favor, while only 200 tokens opposed. Voting will conclude on September 6, with a minimal participation threshold required for approval.<\/p>\n<p>Criticism has emerged from some commentators, who argue that the new NEB token could significantly reduce the value of existing holdings.<\/p>\n<p>Vega Protocol, which initially aimed to facilitate high-volume derivatives trading, first presented its white paper in 2018 and has since raised significant funding. Currently, Vega holds a fraction of the total value locked compared to competitors in the decentralized trading space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vega Protocol, crypto derivatives platform, has proposed shutting down its blockchain and discontinuing support for its native token, VEGA.<\/p>\n","protected":false},"author":3,"featured_media":23394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24,23],"tags":[],"class_list":["post-136711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-blockchain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Protocol Proposes Shutdown and Transition to New Project<\/title>\n<meta name=\"description\" content=\"Vega 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