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The Vega community has temporarily disabled VEGA trading functionality through the proposal to "close the Vega chain".

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#DeFi
TechFlow
564Words
Sep 11, 2024

{"p1":"Recently, the $Vega community almost unanimously passed a proposal to shut down the $Vega chain, as reported by DeepTechFlow. This decision signifies that the $Vega project will refocus its remaining resources to support the maintenance and development of core protocol software, while discontinuing community support for the $Vega chain and $VEGA token.","p2":"Currently, the $Vega chain has ceased all market trading functions and is expected to fully shut down after a 'deceleration period'. During this time, validators will be incentivized to keep their nodes running for users to withdraw their funds.","p3":"The final governance vote is currently ongoing, aiming to confirm the final settlement price for the suspended markets and distribute approximately $28,000 of unused insurance pool funds to validators.","p4":"The $Vega chain is expected to remain operational at least until October 27, allowing users sufficient time to withdraw their assets. Users can connect to $Vega and Ethereum/Arbitrum wallets for asset withdrawal through the official page. It is important to note that USDT withdrawals require a 24-hour delay period."}

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