Derivatives layer Vega Protocol has introduced its pre-launch market cap (MCAP) futures, permitting merchants to invest available on the market cap of tokens earlier than they’re formally launched. In keeping with Vega’s announcement, the MCAP was constructed to let merchants hedge towards the volatility related to new token releases.
Vega’s market cap futures are designed to be held till expiry with out the necessity for funding charges, decreasing worth danger for contributors. The platform employs customized danger fashions and price-monitoring auctions to keep up the integrity of those futures.
The choice comes after Vega gives futures markets for EigenLayer Factors and Hyperliquid factors. The primary asset launched within the platform is nftperp’s native token, as introduced on the Vega Discussion board. Furthermore, the Vega group believes that market cap futures will improve market effectivity and decentralized worth discovery by offering a consensus on the worth of an asset previous to its availability.
Not like perpetual contracts that usually evolve into contracts on the token itself post-launch, Vega’s market cap futures are settled primarily based available on the market cap at launch time. The announcement states that this focus permits merchants to focus on the launch worth with out the necessity to take into account subsequent worth actions or token launch portions.
Vega is using the UMA Optimistic Oracle of their new MCAP. The futures symbolize a millionth of the token’s full market cap at launch, offering a transparent benchmark for comparability.
