Layer 1 blockchain Vega proposes to shut down the Vega Alpha mainnet and the token VEGA, and launch a new project Nebula.

Odaily Planet Daily News: $Vega Protocol, a Layer 1 blockchain focusing on derivative trading, has proposed to shut down the $Vega Alpha mainnet chain and token $VEGA in the coming months. Instead, they will concentrate on the development and promotion of the protocol software and launch a new project, Nebula. Nebula plans to introduce its own chain running the $Vega protocol, with its native token NEB. $VEGA token holders will have the opportunity to exchange $VEGA for this new token, with $VEGA holders being diluted at a ratio of 5:1. $Vega will reallocate the on-chain treasury to stakers and provide guaranteed USDT incentives to validators to sustain the network for the next two months, allowing users to withdraw funds from the $Vega DEX. The relevant governance vote will conclude on September 6th.