The decentralized foreign exchange platform Vertex Protocol has announced its tokenomics, which will enable community governance through the distribution of VRTX

ChainCatcher news, the decentralized foreign exchange platform Vertex Protocol has announced its tokenomics, which will achieve community governance through the distribution of VRTX and provide additional utility. The main function of VRTX is to enable users to participate in Vertex in a decentralized manner and to create liquid staking tokens xVRTX and non-transferable tokens voVRTX. On the mainnet, users can stake VRTX with a minimum unlocking period of two weeks to receive the liquid transferable token xVRTX.

It is reported that Vertex is a DEX protocol supporting CLOB and cross-margin (full margin mode), including spot, contract futures, and money markets. Vertex originally planned to launch on Terra but ultimately decided to launch on Arbitrum.

According to Rootdata data, Vertex Protocol previously completed a $8.5 million seed round financing in April 2022, with participation from GSR, Big Brain Holdings, Huobi Ventures, Collab+Currency, Jane Street, and others. (Source link)