1/ Unveiling the $VRTX Liquidity Bootstrapping Auction (LBA) ⚡

The LBA marks the start of the $VRTX token launch, seeding its initial liquidity & allowing users to claim their pending $VRTX rewards.

🗓️ November 13th → November 20th, 2023

But what the **** is an LBA?

🧵⤵

2/ The Vertex LBA is a community-powered pool, designed to launch the $VRTX token. It’s primary goals include:

🌱 Seeding initial $VRTX market liquidity.
💪 Promoting fairness for launch.
⚖️ Reducing price volatility and botting.
🌊 Empowering passive liquidity provision.


3/ The Vertex LBA provides anyone with the opportunity to get involved in the launch process, acquire $VRTX, and earn rewards for participating!

The $VRTX token will officially launch at the end of the LBA!

➡️ How can you participate, anon?

4/ The Vertex LBA will take place over 3 stages. Each stage has a unique purpose and mechanism.

➡️ Stage 1: The 7-Day Auction

➡️ Stage 2: VRTX Token Launch & Liquid Claiming

➡️ Stage 3: Post-LBA Vesting & VRTX Tokenomics

5/ The LBA will run for 7 days & help establish a fair market price for the VRTX token, utilizing a fixed price curve (x * y = k).

More on VRTX price later…

6/ ANYONE can participate.

During Days 1-5 liquidity can be supplied to the LBA in 2 ways:

Users with VRTX trading rewards from Epochs 1 - 7 can:
➡️ Pre-claim VRTX rewards & supply to VRTX pool.

All users (including those with rewards) can:
➡️ Supply liquidity to USDC.e pool.

7/ Why deposit❓

A total of 1% of the token supply (10 million VRTX) is allocated to the LBA as rewards! This compensates users for locking their capital in the LBA and helping to assist price discovery.

LPs benefit from dual yield composed of:

➡️ Pool Fees
➡️ VRTX Rewards

8/ Participating LBA liquidity (i.e., LPs) is locked and vested for 120 days.

Day 0 -> 60: 1/3 of participants’ liquidity unlocks on day 60.
Day 60 -> 120: Liquidity vests linearly, concludes April 20th 2024

VRTX rewards will be distributed to LBA LPs weekly from 27th November.

9/ What is the price of $VRTX ❓

The VRTX launch price depends on the final LBA ratio between USDC.e & VRTX:

➡️ Amount USDC.e / Amount VRTX in the pool = VRTX price

No bots or price spikes. Just a fair mechanism for launch!

10/ Token Launch 👀

The LBA concludes on Day 7. At which point, pools 1 & 2 are fused to create the VRTX-USDC.e pool on the Vertex AMM.

Finally, the $VRTX token will launch (at the final price of the LBA)!

11/ Stay tuned for more updates on the Vertex LBA as we approach November 13th!

In upcoming posts, we’ll break down each stage of the LBA, including tutorials for the user-flow on the Vertex app.

https://blog.vertexprotocol.com/introducing-the-vertex-lba-the-auction/

Unveiling the $VRTX Liquidity Bootstrapping Auction

1/ Making sense of Margin on Vertex.

Vertex’s cross-margin framework is designed to improve capital efficiency 🏔️

Understanding Vertex’s design & terms like margin usage, funds available & how to utilize will help you as a trader.

Let’s get up to speed on what it all means 👇

2/ This short thread is a summary of our recently published blog on all things Margin.

To learn more about these important concepts and terms, we suggest giving it a read: https://blog.vertexprotocol.com/making-sense-of-margin-understanding-the-terms-on-vertex-2/

3/ Vertex’s Cross-Margin design.

On Vertex, your portfolio is your margin - this means that users can utilize various assets as collateral, including pnl. - Margin is shared across positions.

4/ Why is this beneficial to traders on Vertex?

Cross-margin provides traders with greater flexibility and capital efficiency through:

• Position offsetting - losing position’s risk can be mitigated by winning positions.

5/
• Multiple Collaterals - Traders can use various collateral as margin for their positions, including spot and LP positions.

• Diverse trading strategies & management - such as delta-neutral & spread trading

6/ Let's look at account info available on the app.

➡️ Margin Usage:
The percentage of an account’s initial weighted collateral being used by initial margin requirements.

➡️ Funds Available:
The collateral an account has to trade with. Also known as available or initial margin.

7/ Terms (continued)

➡️ Account Leverage:
The multiplier of how much you're leveraging assets for existing positions & liabilities

➡️ Liquidation Risk:
How close an account is to liquidation - (Maintenance Margin Usage, the amount of maintenance margin being used by positions).

8/ Terms (continued)

➡️ Funds Until Liq:
The collateral an account has until it is eligible for liquidation.

$0 = liquidation (riskiest positions will be liquidated until this is above $0)

9/ On Vertex, an account can have a variety of assets and liabilities

Each asset and liability is given 2 weighted values (initial and maintenance weights).

This will determine the collateral and margin requirements an account has to trade and not be liquidated.

10/ Interested in learning more about Vertex’s terms and design? Check out our linktree to get started: https://linktr.ee/vertex_protocol

https://twitter.com/vertex_protocol/status/1600225640703176705?s=20

Understanding Margin on Vertex: A Trader's Guide

1/ The 5th epoch of Vertex's Trade & Earn program is live!

Earn a percentage of the 13.5 million $VRTX up for grabs over the next 28 days by simply trading on Vertex.

➡️ Every fee paying trade = Earn $VRTX

2/ The $VRTX rewards program is designed to acknowledge and reward long-term users of Vertex.

Reward distribution is broken down into 2 phases:

1️⃣ Initial Token Phase: 9% of supply
2️⃣ Ongoing Emissions Phase: 37% of supply

3/ But why VRTX?

The main function of VRTX will be to facilitate governance.

While also designed to reward stakeholders for various levels of commitment to the protocol, via revenue sharing and trading fee discounts.

4/ Start trading on Vertex. Earn VRTX.

Learn more about the Trade & Earn Program here: https://vertex-protocol.gitbook.io/docs/community-token-and-dao/trade-and-earn

Vertex's Trade & Earn Program: Earn $VRTX Rewards

1/ Stablecoins on Vertex  ⚖️

Ever wanted to short $USDT? How about long?

Leveraged Spot is Vertex’s response to the art of looping, but what is it & why should you care?

🧵👇

2/ Looping

A common DeFi strategy to long spot positions, which involves repeatedly borrowing and depositing two assets.

Let's look at an example:
• Deposit for BTC
• Use that BTC as collateral to borrow ETH
• Use that ETH to swap for more BTC
• Rinse & repeat

3/ In other words, looping can achieve similar leverage to perps but comes with various benefits, such as:

- You own the spot asset.
- Lower price manipulation risks.
- Cheaper (money market rates usually less volatile than perp funding rates)

4/ However, looping does come with various downsides:

• Looping is complicated (lots of button-clicking)
• Expensive on gas
• Restrictive - many lending protocols take a large haircut on the amount borrowable, restricting the number of loops possible.

5/ Looping on Vertex

Vertex takes the fundamentals of looping while improving the experience tenfold.

Known as “leveraged spot”, users can automatically loop their position when trading spot markets to achieve a leveraged spot position.

6/ But what does this look like in comparison to Aave?

➡️ Looping on Aave
• Up-to 4x leverage

➡️ Looping on Vertex
• Up-to 20x leverage

7/ On Vertex, instead of having to manually loop, all of the borrowing & depositing is handled within a single DEX via Vertex’s integrated money market.

Meaning no more manually repeating each step of depositing + borrowing on a siloed DeFi app!

8/ Longing & Shorting Stablecoins

Leveraged Spot enables users to go Long or Short on a stablecoin by making use of Vertex's integrated Money Market & USDT-USDC spot market.

9/ On Vertex, users can:

➡️ Borrow USDC against collateral to sell for USDT
➡️ Borrow USDT against collateral to sell for USDC

By turning on Leveraged Spot, users can repeat this process up to 20x leverage in a similar manner to perp leverage.

10/ Please remember that this is an educational example intended only to display the use-case of leveraged spot on Vertex.

Borrow & deposit APR rates on Vertex are variable – always account for this.

Stay tuned for more editions of “Stablecoins on Vertex”.

Stablecoins on Vertex: Leveraged Spot

1/ Vertex now supports Stop Market Orders!

Order types & risk management have been a focus area of development - we are pleased to start rolling these features out over the coming weeks.

What are Stop Orders & how do they work? 👇

2/ What is a stop market order ❓

A stop-market lets you set a trigger price that, once reached, will execute a market order. Stop orders can be used to close existing positions (stop-loss) or to open new positions (stop-entry).

3/ What is a stop-market not?  ❌

Stop-market orders are NOT conditional/linked to a position or order. Stop-market orders must be managed as individual orders.

Let’s look at an example 👇

4/ Sam is long ETH-PERP

Sam places a stop-market sell order with a trigger price
The trigger price is not reached
Sam closes ETH-PERP

In this scenario, the stop-market order will continue to exist. It must be canceled manually. If not, Sam could end up in an unwanted position.

5/ Please take care to cancel unwanted stop-market orders as you close and open positions.

6/ 🔒 What is needed to place & maintain a stop-market order?

One-Click Trading (1CT) must be enabled. Stop orders place an order on your behalf once the trigger price is reached, made possible by 1CT.

If you have existing stop orders and disable 1CT, they will be canceled.

7/ Up-coming order types 🔜

Vertex will soon support TP & SL, similar to other venues.

Additionally, Vertex will support stop limits that trigger limits rather than market orders, allowing traders greater control over execution.

8/ To learn more about placing and maintaining Stop Orders, please refer to the blog below or our docs 👇

https://blog.vertexprotocol.com/announcing-stops-orders/

Introducing Stop Market Orders: Enhancing Order Types and Risk Management

The Peak - a monthly newsletter for the Vertex community!

Edition #2, July 2023 is out now.

Join us as we unpack the past month’s highlights, statistics, new features and markets, plus some alpha towards the end 👇
blog.vertexprotocol.com/the-peak-edition-2-july-2023/

1/ Announcing Referrals 🔗

Refer new traders to Vertex. More $VRTX for you. More $VRTX for your network.

Read on to learn more 👇

2/ Why should I refer traders to Vertex?

Apart from cheap fees and super fast speeds, by referring traders to Vertex, you can now earn more $VRTX rewards!

➡️ Referrals get a 10% rewards boost.
➡️ You get 10% of their rewards.

Simple.

3/ Accessing your Referral Link 🔗

Each account has a unique referral link. You can find yours by navigating to "Referrals" on the Vertex App.

Connect your wallet.

Click "Copy" to add to your clipboard, or "Share" directly to twitter.

4/ New to Vertex?

When accessing Vertex for the first time, you will be prompted to make a deposit.

Once a deposit is made, the referral link will become accessible.

Note: there is no minimum deposit amount.

5/ Referral Rewards 💰

Every fee paying trade = earning VRTX.

The more your referral trades, the more VRTX you earn!

At the end of each Reward Epoch, you will earn 10% of your referrals trading rewards.

6/ Details 🔎

"Total Referrals" - the number of referrals you have made.

"Total Earned" - rewards are calculated & displayed at the end of each epoch.

Note: the "Total Earned" counter will remain static until the end of each reward epoch.

7/ Want to earn more VRTX?

Start trading and participate in Vertex's Trade & Earn Program!

To learn more, check out the thread below 👇

https://twitter.com/vertex_protocol/status/1679498441469329409?s=20

8/ Start referring your frens today!

➡️ Share your Referral Link. More $VRTX for you. More $VRTX for your network.

Introducing Vertex Referrals

1/ Push notifications are now live on Vertex thanks to our partnership with @NotifiNetwork!

This integration will allow Vertex users to receive real-time updates & alerts via the App, Telegram, Discord, email, & SMS.

Stay updated on trading activities 🔔

2/ Setting up Notifications 🔔

1. Manage notifications via the bell icon (top right of the app on the desktop).
2. Enter accounts you wish to get notifications delivered to.
3. Sign a transaction to approve.
4. Decide what alerts you want to enable.

3/ Users can now receive customized alerts on portfolio status, including:
• Order confirmations
• Margin health
• Liquidations
• Announcements

Vertex is Notifi's first integration with a perpetual trading and derivatives project.

4/ Future Updates - Mobile

Currently, push notifications are only available on desktop - mobile integration will be released soon.

5/ To learn more about the Notifi push notification integration, read our latest blog release: https://blog.vertexprotocol.com/vertex-x-notifi-push-notifications/

Real-time Notifications for Vertex Users

1/ At the core of Vertex’s ecosystem is $VRTX - creating an opportunity for the community to participate in governance & revenue sharing.

So, how do anons get their hands on VRTX?

The Trade & Earn program is designed to distribute - acknowledging & rewarding traders.

🧵👇

2/ How to earn $VRTX

VRTX can be earned in two ways:
1️⃣ As a Taker
2️⃣ As a Maker

👉 Every trading fee paid = Earning $VRTX

3/ As a Taker 🫴

This is the majority of traders. Rewards can be earned proportionally according to fees paid on trades.

💡 More volume = more fees paid = more $VRTX .

4/ As a Maker 🫳

Rewards can be earned by meeting the requirements set out in the Market Making Programme.

Makers are traders who provide liquidity to the exchange and typically trade electronically to provide liquidity on a 24/7 basis.

5/ $VRTX Rewards will be distributed over 2 phases

1️⃣ Initial token phase:
9% of tokens awarded over 6 months (until TGE in October 2023)

2️⃣ Emissions phase:
37% of tokens distributed over 6 years

Let's examine the Initial token phase.

6/ The Initial Token phase commenced at mainnet launch (LIVE).

It's primary objective, to attract deep liquidity and build an early community of stakeholders.

Breakdown:
• 9% of total $VRTX Supply
• 6 Epochs = 28 days each

The initial phase is currently in epoch 3 of 6 ⏳

7/ Token Claim 🔮

Rewards earned from the Initial Token Phase will become claimable in October 2023.

More information to come on the claim & launch mechanics over the coming weeks… 👀

8/ Trade on Vertex. Earn $VRTX ⤵️

Start trading on Vertex. Participate in the Trade & Earn Program. Become a member of the community.

Vertex's Trade & Earn Program: Earning VRTX through Trading

1/ In the fast-changing world of DeFi, Vertex is emerging as a game-changer - a new DEX that doesn't compromise on capital efficiency, UX or self-custody.

But how does it compare to current market leaders; Binance, dYdX & GMX? You'd be surprised...

Lets dive in 🧵👇


2/ When evaluating an exchange, we consider several metrics:
- Fees (cost of trading)
- Infra (AMM, CLOB, Markets, API etc)
- MEV & Frontrunning Resistance
- Cross-Margin & Capital Efficiency

So how do the competitors stack up?

3/ Binance (1/2)


Offering robust security, an array of markets, low fees, low latency, a CLOB, and API.

💸 Fees:
- 0.10% for Spot.
- 0.02% / 0.04% maker/taker fees for Perps & Futures.

The downside? The above comes at a cost to self-custody and transparency 😞


4/ Binance (2/2)


Binance's latency is fast, just 5 milliseconds, faster than all other exchanges.

Cross-margin trading is also available, although for perps only, or spot only - but not both. Therefore, it falls short of universal cross-margin.


5/ dYdX (1/2)


A leading perps DEX, offering an off-chain CLOB, MEV resistance, and an API. V3 is built on Starkware, with V4 to release as a Cosmos appchain.

💸 Fees:
- Free for the first $100,000 of 30 day volume.
- 0.02% / 0.05% maker/taker

This is cheap for a DEX!

6/ dYdX (2/2)

dYdX’s latency is about 1000 milliseconds. These are extremely low latencies for a DEX.

However, spot trading is unavailable on dYdX, so it does not support universal cross-margin.


7/ GMX (1/2)


A DEX on the Arbitrum & Avalanche.

While it stands out for zero-price impact trades, it falls short on a few fronts... no defense against MEV, lacks cross-margined accounts.

💸 Fees:
- 0.2% to 0.8% for Spot
- 0.1% for Perps



Relatively high fees, ouch!

8/ GMX (2/2)


Despite this, GMX attracts traders with its high leverage, zero-price impact, and real yield opportunities.

However, its scalability is limited, and without an order book, API, or SDK, traders aiming to execute automated strategies face significant challenges.

9/ Enter the DeFi solution - Vertex 🏔️

This newcomer in the DeFi space seems set to disrupt the current landscape by aligning itself with the principles of decentralization, without compromising on efficiency, user experience, and self-custody.




10/ Vertex brings:
- Universal cross-margin accounts
- The lowest fees out of all exchanges presented here
- 15 millisecond latency (faster than any other DEX).
- API and SDK for automated traders
- Hybrid AMM and CLOB to get the best of both worlds

11/ Keep an eye on Vertex as it holds the potential to shift the status quo.

In a rapidly evolving world of DeFi, innovative platforms that truly embody the spirit of decentralization without sacrificing efficiency are the need of the hour.


https://blog.vertexprotocol.com/uncovering-the-ultimate-exchange-a-comparison-of-vertex-competitors/
