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Vertex to Phase Out Native Token VRTX and Migrate DEX to L2 Network Ink Supported by Kraken
Summary: According to The Block, decentralized exchange platform Vertex Protocol, focusing on perpetual contracts and currency markets, will gradually close its existing EVM deployment and exclusively rebuild its DEX on the L2 network Ink incubated by Kraken. The Ink Foundation will receive Vertex's engineering team and trading technology architecture, including synchronized order books, perpetual contract engine, ...
According to The Block, decentralized exchange platform Vertex Protocol, focusing on perpetual contracts and currency markets, will gradually close its existing EVM deployment and exclusively rebuild its DEX on the L2 network Ink incubated by Kraken. The Ink Foundation will receive Vertex's engineering team and trading technology architecture, including synchronized order books, perpetual contract engine, and currency market code. The move is aimed at accelerating the goal of building an open on-chain capital market. As part of the migration, Vertex developers will gradually phase out their native token VRTX. A snapshot is scheduled for July 8th to determine eligible VRTX holders for the Ink airdrop, receiving 1% of the initial supply of Ink and priority participation in future incentive programs. Meanwhile, unreleased VRTX tokens and tokens in the project treasury will be burned.
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Link: Vertex to Phase Out Native Token VRTX and Migrate DEX to L2 Network Ink Supported by Kraken [Copy]
