Blockchain technology has been making headlines all year long as more and more decentralized apps (or DApps) are hitting the market. If you’ve kept up to date with our #WebsiteWednesdays, you’ll be familiar with a few of them yourself: attendance protocol service POAP.xyz and secure communication app Mailchain.xyz. This week we’re showcasing another DApp that uses the blockchain and their .xyz domain to allow users to securely trade derivatives on the open market: Vega.xyz.
Vega.xyz is a DApp designed to allow financial investors to trade stock market derivatives like stocks, bonds, commodities, and currencies. The key difference with Vega.xyz is that trades are conducted on the decentralized blockchain network. This, according to Vega.xyz, puts the power and control back in investors’ hands by allowing them to bypass the high-cost middlemen and gatekeepers of traditional markets. Users can process transactions while taking advantage of Vega.xyz’s fully automated, end-to-end trading service, and can even take advantage of built-in liquidity incentives that match traders and market makers.
Vega.xyz’s service represents the increased disruption happening in the worlds of both finance and technology, a shift that forward-thinking VCs have taken note of. Vega.xyz has raised over $5 million in seed round funding led by Pantera Capital, who share Vega.xyz’s vision of bringing control of the markets back to investors. Vega.xyz plans to leverage that funding to achieve its goal of designing and implementing a protocol for safe and non-custodial decentralized margin trading.
Another way Vega.xyz sets themselves apart is by actively cultivating a community for their users to gather and share knowledge. Users in the Vega.xyz community can converse with each other about the platform, get answers to their questions, or simply chat about investing in general. Vega.xyz’s creators are also active posters in the community forum, offering a unique opportunity for users to get answers to their questions and suggestions from the people who know the platform best.
Vega.xyz has created a unique trading platform and the significant funding they have secured could power them to becoming a leader in the industry. Their memorably branded domain name helps their platform stand out to users and investors alike, and is poised to grow alongside their platform as they march on toward their goal of becoming a globally used decentralized trading service.
Stay up to date on Vega.xyz by following them on Twitter and LinkedIn or reading their articles on Medium. Inspired to create your own disruptive DApp using blockchain technology paired with your .xyz domain? Take the first step and grab the .xyz you want today!