Vortex Protocol retweeted
1/ Excited to announce that @VortexProtocol has recently been acquired by @SushiSwap . With its one-of-a-kind on-chain matching engine and cross-margining features, Vortex has the potential to truly outcompete centralized exchanges.
Seismic moves in crypto today.
🍣 X ⛵
Sushi is coming to the Sei ecosystem, read more:
decrypt.co/121027/sushiswap-…
Vortex Protocol retweeted
1/ So it’s been a busy few months for us, culminating in the acquisition of Vortex Perps by one of the true OG’s of DeFi - Sushiswap.
It’s been a pleasure to share ideas and work closely with @jaredgrey and his team.
Seismic moves in crypto today.
🍣 X ⛵
Sushi is coming to the Sei ecosystem, read more:
decrypt.co/121027/sushiswap-…
Vortex Protocol retweeted
Describing @VortexProtocol that's built on @SeiNetwork.
Big up Sei for incentivising Vortex’s testnet. 🤝
Proud to be the first app to launch - so far.
6/ This is the first example of DeFi legos coming together on Vortex.
We’ll be sharing more on our Cosmos-wide vision soon, and our plans to make Vortex the most attractive perps exchange for builders, farmers and traders.
Come and join our testnet: trade.vortexprotocol.io/
5/ More often than not, funding is positive in crypto markets, so traders like UXD Protocol will receive funding payments from long positions.
When funding turns negative, their transparent insurance fund maintains the short - more details here: uxdprotocol.medium.com/histo…
4/ For example, by holding a spot “long” position and hedging with a perpetual short on Vortex, UXD can create a delta neutral position.
This creates a "crypto dollar" - 1 $UXD is backed and always redeemable for $1 of decentralized, exogenous assets.
3/ Vortex protocol is a ‘peer to peer’, orderbook based exchange.
This means unlike $GMX, traders with open positions can directly earn yield via the funding rate mechanism.
This allows structured products & protocols to build on top.
2/ The key challenge for any perps exchange is attracting users and liquidity.
Vortex will solve this problem in a variety of ways - the first is to facilitate a variety of new and innovative structured products across Cosmos.
The first will be @UXDProtocol.
Vortex Protocol retweeted
We stand by the @GMX_IO team and community, true innovation is full of bumps in the road. Mistakes make perfection and we’ll definitely learn from this one.
Last thing i will mention about it.
To be clear, i agree for lower liquid coins some additional logic should be implemented to $glp. Every model has potential flaws, order books also has flaws.
Only thing we can do is think how to make it more efficient.
Why do you use centralised exchanges to trade, rather than DeFi?
37%UX Too Complicated
26%Downtime/ liquidity ⬇
11%I trust SBF more
26%Other (write below)
38 votes • Final results
Vortex Protocol retweeted
📢 Launching: OctoSei - Request for Products 🐙
Build on the Layer 1 made for DeFi
We're partnering w/ @Cryptocito @strangelovelabs and @galileo_xyz to lay out the best opportunities in #Cosmos. Our team can provide engineering help and offer VC funding for strong teams.👇
