Frequently asked questions about Vega

Here’s a running list of questions that are frequently asked in the Vega community. If your question isn’t answered here, ask below or on Discord! We’d love to help.

There are also extra tips for trying out Vega Testnet in this forum post.

Please note: Vega is running a testnet and you will never need to deposit or transfer real Ethereum or other real-value assets to use testnet.

:diamond_shape_with_a_dot_inside: What are the official Vega channels? (Telegram, Discord, etc)

Click to read

You can see an up-to-date list of Vega’s official channels on our Linktree, and by visiting our websites, vega.xyz and fairground.wtf.

There are also community-run, unofficial, Telegram channels that are not managed by anyone working with Vega.

:warning: There are fake Vega accounts on Telegram, please confirm you’re on an official Vega channel before taking part in anything.

Be wary as there are scams, fake tokens, and misleading information about Vega.

:diamond_shape_with_a_dot_inside: Glossary of terms in the Vega ecosystem

Click to read

What is Vega?

Vega is a protocol for creating and trading derivatives on a fully decentralised network. Vega has designed fully automated processes for creating markets on and trading margined derivatives. Markets will be open and decentralised, with pseudonymous participants.

Console / Vega Console

Vega Console is the front-end interface for Fairground, Vega’s testnet. It has been built with professional traders in mind. Access Vega Console by visiting https://console.fairground.wtf or by running it through your local wallet.

Fairground / Vega Fairground

Fairground is the official testnet of Vega. It’s created so that you can try out the Vega protocol in an environment with testnet assets. Learn more about what you can do on Fairground at https://fairground.wtf/.

Liquidity bots / liq bots

Liquidity bots are automated scripts that provide liquidity on the order book, for markets on Vega Fairground. Generally speaking the bots are run by Vega, but anyone can create and run liquidity bots if they choose to.

Testnet / Vega Testnet

Before the launch of Fairground, the first Vega testnet was just known as Vega Testnet. Fairground and Vega Testnet are the same environment, but there may be other, different testnets in the future.

Trading bots

Trading bots are automated scripts that place buy and sell orders on markets on Vega Fairground, in order to keep trading activity high so that users will have their orders filled. Generally speaking the bots are run by Vega, but anyone can create and run trading bots if they choose to.

Wallets
Whichever wallet you use, your private key is always unknown to Vega and is completely unique to you. Local wallet is a more ‘real-world’ crypto wallet.

  • Local wallet: Local wallet is a command line wallet service for Vega, where users can be completely pseudonymous by creating their own user names and passwords for connecting. Download the wallet and read instructions for how to use it on the Vega Protocol GitHub - https://github.com/vegaprotocol/go-wallet/#readme
  • Hosted (or Vega-hosted) wallet: Hosted wallet is testnet-only wallet to make it very easy to create keys and try out Vega Fairground. You can create a Vega Hosted Wallet through Vega Console - https://console.fairground.wtf/wallet/create

:diamond_shape_with_a_dot_inside: Which blockchain is Vega built on?

Click to read

Vega developed a purpose-built blockchain that uses the Tendermint consensus layer as a basis, and is its own chain optimised for trading/derivatives. The network will bridge to multiple other chains for collateral that can be used on Vega, starting with the bridge to testnet Ethereum (Ropsten) which is already useable on testnet.

:diamond_shape_with_a_dot_inside: Will you be able to trade any type of derivatives using Vega (options, swaps, etc.)?

Click to read

Vega is designed for people to propose and create markets for trading futures, options, swaps, perpetuals, and more.

Right now, Vega’s testnet only supports cash-settled futures markets.

Read more about the Vega protocol design in the whitepaper

:diamond_shape_with_a_dot_inside: What is on the Vega roadmap?

Click to read

You can read about the 2021 Vega Roadmap in our blog post.

Also, check out Barney’s video on the topic here:

Vega Community Call #8 - The Vega Roadmap 2021 - YouTube

:diamond_shape_with_a_dot_inside: How can I start using testnet? How can I get collateral for trading on testnet?

Click to read

Head to https://console.fairground.wtf/ to check out the public testnet.

Then:

a. To use a Local wallet: Create a Vega wallet by following the guide on the GitHub Vega wallet repo

b. To use a Vega-hosted wallet: Create a Vega-hosted wallet account within Vega Console

c. OR ask for a Vega-hosted wallet in the #wallet-bot channel on Discord by writing !hosted-wallet
d. Vega-hosted wallet: OR DM !hosted-wallet to @wallet-bot on Discord

Read about what you can do on testnet in this blog post

To deposit for trading on testnet, read the instructions in the Vega documentation: https://docs.testnet.vega.xyz/docs/console/#how-to-deposit-tokens-to-use-on-vega

Or watch the video walkthrough of depositing on testnet: https://www.youtube.com/watch?v=rzOxpWrnv64

If you’re stuck, you can see the answers to common testnet questions in this forum post

:diamond_shape_with_a_dot_inside: Can I stake on the testnet yet?

Click to read

Right now, Vega is not ready (from a software development point of view) for people to stake tokens/run validator nodes.

If you wish to learn more about running a node as a validator, read this blog post: https://blog.vega.xyz/bootstrapping-vegas-validator-ecosystem-d9043d5fdb67

We’re excited with the interest people have shown in supporting Vega and we’ve started planning how we can ensure that our community and the maximum number of people that care about Vega Protocol are able to get hold of tokens. We’ll post details here and on other community channels when we have them.

It’s worth signing up for the Vega Community Update (https://vegacommunity.substack.com/), Twitter (https://twitter.com/vegaprotocol) and Discord (https://twitter.com/vegaprotocol) if you’ve not done so already.

:diamond_shape_with_a_dot_inside: I’m looking to create content about Vega, how can I do so?

Click to read

Check out our blog where you can see previous articles written on Vega by members of the team and Vega’s Community Core. If you think you’ve got something to add, get in touch with us on Discord or leave a request here - we’d love to talk to you!

1 Like