The VEGA Token Debut Listing and LP Incentives
The first VEGA tokens unlock on 03 September 2021, at 00:00 UTC, and they are excited to announce the initial listings, along with new incentives for bootstrapping liquidity for VEGA tokens within DeFi.
As developers of decentralised trading technology, they strongly support the entire DeFi ecosystem and will prioritise decentralised trading and liquidity protocols for the VEGA token. Around 00:00 UTC on 3rd September 2021, they will create four liquidity pools with an initial deposit of VEGA, ETH and USDC, two on SushiSwap and two on Uniswap v3.
Starting on 3rd September at 17:00 UTC, VEGA tokens will be available to trade on CoinList Pro, following on from the VEGA Token Sale hosted by CoinList in June this year, which added more than 21,500 new token holders to the Vega community. We will update this post with additional centralised exchanges as they announce listings.
Decentralised Exchanges
Liquidity Pools on SushiSwap and Uniswap V3
The Vega project will deposit the following inventory to both SushiSwap and Uniswap v3:
VEGA/ETH: $450,000 equivalent of Ether, and 10,000 VEGA tokens
VEGA/USDC: $450,000 equivalent of USDC, and 10,000 VEGA tokens
In total, 40,000 VEGA and the equivalent of $1,800,000 in ETH and USDC will be deposited to the pools, and the initial price of VEGA will be $45 per token.
The Uniswap pools will be standard v3 pools, offering the DeFi community the opportunity to earn rewards from the 0.25% transaction fee defined in the Uniswap protocol.
The SushiSwap pool and incentives will provide liquidity providers with the chance to earn rewards from transaction fees, as well as additional VEGA token rewards for committing liquidity to the pool.
SushiSwap Incentives
In addition to the standard rewards earned by LPs, those that also commit liquidity on SushiSwap will also be entitled to claim VEGA tokens. To incentivise this liquidity commitment, from 3rd September 2021 25,000 VEGA tokens will be allocated to the SushiSwap LPs every week for the next 12 weeks.
VEGA tokens will be redeemable via smart contract according to the amount of VEGA LP shares held by SushiSwap users. A new page will soon be available at https://token.vega.xyz allowing users to see their share of the SushiSwap pool, as well as estimated VEGA rewards.
The example below shows how much VEGA would be earned according to a hypothetical scenario:
When the VEGA/USDC pool has been created, it will comprise 10,000 VEGA and 450,000 USDC. In the first week, if someone owning 100 VEGA tokens chose to add their tokens to the pool along with $4,500 USDC, they would acquire approximately 1% of the LP shares. Assuming nobody else adds liquidity to the pool for the remainder of the first week, the user would receive 1% of 25,000 VEGA tokens, which is 250 tokens.
Over time, more users will likely join the pool, causing the APY to fall to a sensible equilibrium as more liquidity is committed. After the 12 weeks have passed, the project team will review the incentive and decide whether to extend it.
You can learn more about providing liquidity to SushiSwap pools here and here.
Centralised Exchanges
The following centralised exchanges have announced their intention to list the VEGA token for trading:
- Coinlist Pro at 17:00 UTC on 3rd September 2021
The VEGA token launch is an important milestone for the Vega community that will catalyse further growth and enable more participants to contribute to the development of the network. In future, we look forward to the VEGA token being available on more exchanges, providing new ways for DeFi users across the world to join Vega’s decentralised trading ecosystem. Further updates will be shared with the community members as they become available.
📰 INFO
https://blog.vega.xyz/unlocking-vega-coinlist-pro-uniswap-sushiswap-b1414750e358
