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The Vega Protocols VEGA token has gained more than 20% in the past seven days, with the protocol itself ready to go live as early as Monday
Vega is a decentralized finance (DeFi) platform for creating and trading derivatives. It rolled out to the alpha mainnet earlier in May.
The related token, VEGA, hit a monthly high of $1.62 on Wednesday, but has since consolidated at levels of around $1.33, still 21% higher in the past seven days, according to data. data from CoinGeko.
Over the past week, the community behind Vega has offered to start trading and has approved USDT, USDC, and ERC20 tokens for deposits and withdrawals on the Vega Ethereum bridge, according to Vega co-founder Barney Mannerings.
If these proposals are successful, markets could be automatically launched by the protocol as early as May 22, Mannerings said in a conversation with CoinDesk.
Mannerings said Vega is seeing strong pre-launch excitement, as well as interest in the protocol being added to total-value locked aggregation platform DeFiLlama recently.
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