Vertex Protocol Annual Review 2024
In 2024, Vertex established itself as a trailblazer in decentralized trading, achieving groundbreaking milestones and setting a robust foundation for the future. This report highlights the transformative developments of 2024.
Comprehensive Achievements of 2024
January 2024: STFX Integration with Vertex
- Milestone: Vertex partnered with STFX, a SocialFi protocol, to enhance liquidity, trade execution, and user experience through innovative perpetual markets.
- Infrastructure: Leveraging Vertex’s SDK, STFX benefited from deeper liquidity pools and reduced taker fees to 0.02%.
- Significance: This integration positioned Vertex as a critical player in the SocialFi landscape, enabling a more immersive and efficient trading experience.
March 2024: Transak Integration for Seamless Onboarding
- Milestone: Vertex integrated Transak’s On/Off Ramp solution, allowing users to purchase crypto directly within the app.
- Infrastructure: Users gained the ability to purchase Arbitrum-native $USDC without leaving the Vertex platform, simplifying onboarding.
- Significance: This innovation reduced friction for new users, enhancing accessibility and aligning with fintech industry standards.
April 2024: Chainlink Data Streams Integration
- Milestone: Vertex integrated Chainlink Data Streams on mainnet to power sub-second price updates for its derivatives and spot markets.
- Infrastructure: The pull-based oracle solution enhanced data accuracy, speed, and security, critical for liquidating undercollateralized positions and calculating funding rates.
- Significance: The integration elevated Vertex’s trading capabilities to centralized exchange standards while maintaining Web3’s security ethos.
July 2024: Skate Vault Collaboration
- Milestone: Vertex launched market-making vaults with SkateFi, enabling passive liquidity provision and yield generation for users.
- Infrastructure: The Skate Vault on Vertex supported delta-neutral strategies and cross-margining systems, delivering a 78% staking APR.
- Significance: This partnership highlighted Vertex’s role in advancing liquidity efficiency and ecosystem expansion.
August 2024: Vertex Edge Launch on Sei Network
- Milestone: Vertex extended its ecosystem to the Sei Network, introducing lightning-fast, cross-chain trading for over 60 markets.
- Infrastructure: Vertex Edge aggregated liquidity across Arbitrum, Blast, Mantle, and Sei, ensuring tight spreads and deep liquidity.
- Significance: This expansion reinforced Vertex’s position as a multi-chain DEX leader.
VRTX Vertical Program: A Multi-Faceted Transformation
Vertex launched the Vertical Program – a comprehensive three-part initiative aimed at revolutionizing the tokenomics of VRTX and fortifying the protocol’s growth trajectory over the long-term.
The culmination of the Vertical Program is poised to redefine Vertex’s role as a pioneering DEX within DeFi – unleashing profound improvements across sustainability and long-term alignment between the protocol and community.
The foundation of the VRTX changes in the Vertical Program may be completed, but Vertex’s journey is only just beginning.
Comprising emissions reductions, V2 staking upgrades, and a refreshed take on market-maker alignment, let’s rewind and review the different Vertical Program stages.
Stage 1: The Foundation of Sustainability Via Emission Reduction
- Milestone: The inaugural phase of the Vertical Program targeted one of the most pressing challenges in tokenomics: inflation.
- Infrastructure: Vertex implemented a significant 50% reduction in emissions, effective on September 11th, 2024. Additional updates included weekly epochs for trading rewards and a revised Maker/Taker split (75%/25%).
- Significance: Lower emissions naturally contributed to a more balanced token economy, redirecting token holdings to support broader growth initiatives beyond trading rewards.
Stage 2: Redefining Staking with the V2 Upgrade
- Milestone: The second phase of the Vertical Program unveiled a pioneering staking model that reshaped user engagement with Vertex.
- Infrastructure: V2 introduced auto-compounding rewards, immediate access to maximum yield, and flexible unstaking options with a 21-day cooldown or 10% penalty for early withdrawals. Protocol revenue-funded buybacks further boosted sustainability.
- Significance: This upgrade attracted a 66.7% staking rate, with stakers enjoying enhanced long-term returns and greater token utility.
Stage 3: Incentivizing Liquidity with Market-Maker Alignment
- Milestone: The final stage focused on aligning incentives with market makers to bolster Vertex’s liquidity infrastructure.
- Infrastructure: Tiered maker rebate structures tied to VRTX staking levels replaced the flat rebate system, ensuring deeper liquidity and improved trading conditions.
- Significance: The revamped incentives solidified Vertex as a dynamic and liquid trading venue, embedding staking dynamics into market-maker participation.
November 2024: Chainlink CCIP Adoption
- Milestone: Vertex adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP), enabling seamless $VRTX transfers across Arbitrum, Base, and Blast.
- Infrastructure: CCIP’s security ensured efficient token transfers and interoperability, unlocking new cross-chain opportunities.
- Significance: This move solidified Vertex’s commitment to multi-chain accessibility and innovation.
November 2024: Vertex Edge – A Unified Multichain Perpetuals Market
- Milestone: Vertex expanded its Edge solution to unify liquidity across chains, offering users a seamless, cross-chain perpetuals trading experience.
- Infrastructure: Vertex Edge’s architecture pooled liquidity from Arbitrum, Blast, Mantle, and Sei, delivering ultra-fast order matching and deep liquidity for traders.
- Significance: This advancement positioned Vertex as a frontrunner in solving DeFi’s liquidity fragmentation challenge, making perpetuals trading more efficient and accessible.
December 2024: Staking V2 Upgrade
- Milestone: Vertex launched its revamped staking model, introducing auto-compounding rewards, immediate yield access, and a flexible unstaking mechanism.
- Infrastructure: The sustainable rewards model leveraged protocol revenue to buy back $VRTX, boosting long-term returns for stakers.
- Significance: The upgrade attracted a 66.7% staking rate, reinforcing community loyalty and token utility.
Conclusion
2024 marked a pivotal year for Vertex, characterized by technological innovation, strategic collaborations, and ecosystem expansion. As the protocol moves forward, its focus remains on enhancing liquidity, advancing user experience, and fostering sustainable growth.
With a robust community and visionary leadership, Vertex is poised to redefine decentralized trading. Stay tuned for continued groundbreaking achievements.
Vertex Socials
FRIENDLY REMINDER:
This news article is a result of comprehensive research. We value your opinion and appreciate your respect for our work. Kindly note that this article is not financial advice, and we always advise investing at your own risk, only what you can afford to lose.
