Layer 1 Block Chain Vega proposes to shut down Vega Alpha Mainnet and Token VEGA, and launch new project Nebula.

On September 3rd, Vega Protocol, a Layer 1 blockchain focusing on derivatives trading, initiated a proposal to close the Vega Alpha mainnet and Token VEGA in the next few months, and instead focus on the development and promotion of the protocol software. They also launched a new project called Nebula, which plans to launch its own chain running on the Vega protocol. Nebula will have its own token NEB, and VEGA token holders will have the opportunity to exchange VEGA for this new token, diluting VEGA holders at a ratio of 5:1. Vega will redistribute the on-chain treasury to stakers and provide guaranteed USDT incentives to validators to keep the network running for the next two months, allowing users to withdraw funds from Vega DEX. The related governance vote will conclude on September 6th.