Derivatives Trading Protocol Vega Raises $5 Million in Funding Round

Vega has closed a $5 million funding round, with contributions from a host of big players. 
Vega Secures Funding 
Vega has raised $5 million in a funding round. Investments came from a host of leading venture capital firms and traditional trading companies, with Arrington Capital and Cumberland DRW leading. 
In a press release, Ninos Manosor, Arrington Capital Partner, spoke of his belief in Vega’s future potential. He said: 
“Vega will be to derivatives as Uniswap was to the spot markets. Any derivative can be launched on-chain in a highly performant and capital efficient environment. Just as the AMM primitive gave birth to an entirely new world of trading, we believe that Vega will unlock nascent collateral and reimagine crypto derivatives from the ground up.”
Aside from Arrington Capital and Cumberland DRW, other investors included Coinbase Ventures, ParaFi Capital, Signum Capital, CMT Digital, CMS Holdings, Three Commas, GSR, SevenX Ventures, ZeePrime Capital, and the DeFi Alliance. Stani Kulechov (Aave), Mona El Isa (Enzyme Finance), Do Kwon (Terraform Labs), and Loi Luu (Kyber Network) all also participated in the raise. Vega previously held a seed funding round in October 2019; Pantera Capital led. 
Vega is a blockchain agnostic decentralized derivatives protocol. It runs its own chain secured through a proof-of-stake mechanism and adds liquidity incentives to match traders and market makers. It currently integrates Ethereum, though it can also run on other blockchains that support smart contracts or multisig wallets. 
It’s aiming to make the markets more open by creating a trading platform …
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