TechFlow news: Vertex Protocol, a decentralized exchange platform built on Arbitrum, has updated its VRTX token distribution model. The total supply of VRTX is 1 billion tokens, with 90.85% to be distributed over a period exceeding five years.
34% is allocated to ongoing incentives, 20% to the founding team, 10% to the initial token phase, 11.7% to the treasury, 9% to the ecosystem, 8.8% to early investors (including participants in Vertex's $8.5 million seed funding round starting in 2022), 5% to future contributors, 1% to initial VRTX liquidity, and 0.5% to advisors.
Vertex Protocol will conduct a Liquidity Bootstrapping Auction (LBA) from November 13 to November 20, with the VRTX token launching on November 20, 2023.
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