Rank: 682
VRTX Price
Contracts/Explorers:
Arbitrum
Funds and Backers
IEO
21 Nov 2023 — 21 Nov 2023
Raised
$ 40.00K
Price:
$ 0.313
ROI:
0.39x -60.8%
Platform:
N/A
ATH ROI:
1.62x +62%
Vertex Protocol a decentralized FX protocol for multi-currency spot and derivatives trading.
Vertex aims to address a growing need for multi-currency DeFi applications and on-chain FX trading. Currently, the vast majority of DeFi liquidity is concentrated in US-Dollar denominated stablecoins. While non-USD stablecoins exist, the absence of a viable protocol to trade between various fiat-linked tokens has kept their liquidity thin, limiting adoption and utility. Traders looking to hedge currency risk between USD-denominated DeFi investments and their local currencies have few options.
Building at the intersection of the $5 trillion-dollar FX market and cryptocurrency derivatives, Vertex has developed the first facility for stablecoin perpetual swaps to trade on Terra. Vertex will offer a range of leveraged FX products, based around Terra’s stablecoins, enabling crypto-natives to trade, pool, borrow and lend currencies via stablecoins in a similar fashion to their TradFi counterparts.
Vertex is built on the Terra blockchain, leveraging the blockchain’s growing DeFi market share and suite of decentralized stablecoins. Terra’s high throughput and low-fee architecture enable seamless cross-border value exchange anywhere, making it an ideal ecosystem for an emerging multi-currency stablecoin protocol.
Vertex Protocol's current price is $ 0.123, it has dropped -2.37% over the past 24 hours.
Vertex Protocol's All Time High (ATH) of $ 0.507 was reached on 27 Nov 2023, and is currently -75.8% down.
The current circulating supply of Vertex Protocol is 280.32 Million tokens, and the maximum supply of Vertex Protocol is 1.00 Billion.
Vertex Protocol’s 24 hour trading volume is $ 2.10 Million.
Vertex Protocol's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 34.46 Million.
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