Vertex Protocol launches cross-chain liquidity and order book platform Vertex Edge
Posted: March 12, 2024 12:01 PM Updated: March 12, 2024 10:41 AM
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Vertex Protocol has launched Vertex Edge, a synchronous order book liquidity product to unify liquidity across EVM-compatible blockchains.
Arbitrum’s decentralized exchange (DEX) — Vertex Protocol (VRTX) today announced the launch of Vertex Edge, its synchronous order book liquidity product. Edge’s debut coincides with the launch of Blitz, Vertex’s first cross-chain instance built on the Ethereum L2 network Blast.
Since its debut on the Arbitrum mainnet in April 2023, Vertex has established itself as a top five DEX based on average daily trading volume for spot and perpetual contracts. Vertex Edge enhances the Vertex Sequencer, a powerful matching engine with on-chain settlement capabilities to unify and share liquidity across all supported EVM-compatible blockchains.
Edge efficiently matches inbound orders from one chain with the combined liquidity profile of all underlying layers connected to the Vertex sequencer, shifting on-chain settlement from one chain (Arbitrum) to multiple chains within a sequencer-level integrated liquidity layer.
“Vertex Edge harmonizes liquidity across different blockchains while allowing unique features such as greater capital efficiency, deeper liquidity, and a single USDC deposit interest rate across all Vertex Edge instances. We are ready to continue innovating throughout 2024 and support more EVM-compatible chains beyond Blast,” said Alwin Peng, co-founder of Vertex.
In less than a year since launching its mainnet on Arbitrum, Vertex has seen total trading volume exceed $50 billion. This momentum leads to Blitz, the first instance of Vertex, a high-performance DEX for spot and perpetual trading deployed on the Blast L2 network.
The Blitz instance is the first to leverage Edge for integrated cross-chain liquidity, giving Blast users access to spot and perpetual trading in over 30 markets. In all markets, it is 0 bps for makers and 2 bps for takers. Low-latency order matching execution; Integrated cross-margin and shared liquidity across Arbitrum and Blast.
“The launch of Blitz, Vertex’s pioneering cross-chain instance, marks a defining moment for DEX and the broader cryptocurrency community. Blitz unlocks the full potential of Vertex’s high-performance trading engine and ushers in a multi-chain future where liquidity between chains is no longer fragmented,” said Darius Tabai, co-founder of Vertex Protocol.
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Victor is the Managing Technology Editor/Writer at Metaverse Post and covers artificial intelligence, cryptography, data science, metaverse, and cybersecurity within the enterprise space. He boasts of five years of media and AI experience working at renowned media outlets such as VentureBeat, DatatechVibe, and Analytics India Magazine. Having worked as a media mentor at prestigious universities such as Oxford and USC, and holding a Master’s degree in Data Science and Analytics, Victor is committed to keeping up with new trends. He provides readers with the latest and most insightful stories from the world of technology and Web3.
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Victor Day
Victor is the Managing Technology Editor/Writer at Metaverse Post and covers artificial intelligence, cryptography, data science, metaverse, and cybersecurity within the enterprise space. He boasts of five years of media and AI experience working at renowned media outlets such as VentureBeat, DatatechVibe, and Analytics India Magazine. Having worked as a media mentor at prestigious universities such as Oxford and USC, and holding a Master’s degree in Data Science and Analytics, Victor is committed to keeping up with new trends. He provides readers with the latest and most insightful stories from the world of technology and Web3.