TechFlow news, the decentralized foreign exchange platform Vertex Protocol has unveiled its token economics, distributing VRTX to enable community governance and provide additional utilities. The primary function of VRTX is to allow users to participate in Vertex's decentralized governance, while also enabling the creation of a liquid staking token xVRTX and a non-transferable token voVRTX. On the mainnet, users can stake VRTX with a minimum lock-up period of two weeks to receive the transferable liquidity token xVRTX.
Notably, Vertex is a DEX protocol supporting CLOB and cross-margin (full-position mode), encompassing spot trading, futures contracts, and money markets. Originally planning to launch on Terra, Vertex ultimately decided to go live on Arbitrum.
According to Rootdata data, Vertex Protocol previously raised $8.5 million in a seed round in April 2022, with participation from GSR, Big Brain Holdings, Huobi Ventures, Collab+Currency, Jane Street, and others. Source link
