Tokenization
Transition from Vega Chain to Nebula Chain
Friday. September 13 at 9:00 AM
1 min. readThe Vega Chain and VEGA token are set to be closed following a community vote on Sep. 12. The decision, initially proposed in an Aug. 30 blog post, marks the end of the Alpha phase. The team acknowledged insights gained from the community on Vega's usage and the shortcomings of its original vision. With the approval of the proposal, the team will focus on a new project supporting a different token and chain. VEGA trading will cease, giving users two months to settle their accounts. The team, led by Barney Mannerings, plans to launch Nebula chain and NEB token to replace Vega. A token swap will be offered to VEGA holders, with 20% of assets allocated for the transition. A final governance vote will determine market price settlement and fund allocation for the Alpha mainnet during the offboarding period.