The Vega Community Decides to Shut Down the Vega Chain, Suspend VEGA Trading, and Adjust Resource Priorities
Publication Time:2024-09-11 18:01:09
In recent developments, the Vega Community has made a significant decision, nearly unanimously endorsing the proposal to shut down the Vega Chain. This signifies that the Vega project will reallocate its resources towards the maintenance and development of its core protocol software. The move aims to enhance the stability and performance of the Vega platform while ending community support for the Vega Chain and VEGA token. Following the approval of the proposal, all market trading functionalities on the Vega Chain have ceased, and it has entered a phase of slowing down in preparation for its final shutdown. During this period, validators are encouraged to keep their nodes running to enable users to safely withdraw funds. A final governance vote is underway, aimed at determining the final settlement price for paused markets and allocating approximately $2800 in unused reserve pool funds to validators. The Vega Chain is expected to continue operating until October 27, providing users with ample time to withdraw assets. Users can connect to Vega and its Ethereum/Arbitrum wallets through the official page for asset withdrawal. Notably, USDT withdrawals will require a 24-hour delay.
Vega Community
Closing of the Vega Chain
Suspended VEGA Trading
Core Protocol Software Maintenance
Resource Reallocation