The Vertex Gazette [edition #3]
Your go-to source for all things Vertex - product updates, new feature highlights and even some degen insights from the Edge ecosystem.
Welcome to the 3rd edition of The Vertex Gazette, frens! Discover your go-to source for all things Vertex, ranging from product updates to new feature highlights and even some degen insights from the Edge ecosystem.
Buckle-up for an action-packed newsletter! Let’s dive into the past month's achievements, incentives, product updates, and much more.
~ Editorial & Chief, Eddeh
Monthly Recap – September 2024
Vertex on Base
Earlier this month, we welcomed Base to the Vertex Edge network of synchronous DEXs 🌐
Base users can now trade 50+ spot & perpetual markets with unified orderbook liquidity, seamlessly integrated across Arbitrum, Blast, Mantle, Sei and now…Base!
Traders can start by depositing $USDC or $wETH as collateral to begin trading instantly and earn yield on their deposits.
We have some exciting exclusive Base related updates coming soon, stay tuned 👀
VRTX Vertical Program
Tokenomics overhaul?! Introducing the $VRTX Vertical Program.
Vertex has experienced significant growth in trading volume and protocol revenue since launching on Arbitrum in April 2023. As Vertex expands liquidity across multiple chains, we’re excited to announce the launch of the VRTX Vertical Program—a major step towards a more sustainable incentive model for VRTX.
The program is designed to align long-term with the interests of our token holders and ecosystem participants, while encouraging organic liquidity growth.
Stage 1 of the VRTX Vertical Program began on September 11th, 2024, with several key changes, including:
A 50% reduction in VRTX trading rewards emissions.
An updated Maker / Taker rewards split to 75 / 25.
A shift from monthly to weekly rewards epochs.
The Stage 1 updates mark the beginning of an exciting multi-phase rollout that will continue to evolve over the coming weeks and months – designed to strengthen VRTX’s role in the Vertex ecosystem.
The Stage 2 upgrade defines the upcoming changes planned to the VRTX staking model, primarily encompassing:
Auto-compounding Rewards
Immediate Access to Maximum Staking Rewards
Flexible Unstaking Options
Sustainable Rewards Model (3 Yield Streams)
For more details on Stages 1 and 2 of the Vertical Program, make sure to stay tuned for more updates!
Sei Trading Competition -- The Series 🏆
Our biggest trading competition has just gone live, with 150k $SEI tokens on the line for competitors to battle it out and ascend the ranks of the Vertex orderbook.
There will be three rounds in total, with each round offering an independent competition with a prize pool of 50,000 $SEI tokens, totalling 150,000 $SEI tokens over the course of roughly three weeks.
Each round will follow the same structure:
Duration = 5 Days
Start = Mondays @ 16:00 UTC
End = Saturdays @ 16:00 UTC
Total Prize Pool (Per Round) = 50,000 SEI tokens
Total Prize Winners (Per Round) = 20
Prize Tiers and Eligibility
Each round is divided into two tiers, each with its own prize pool and eligibility criteria:
Tier 1:
Prize Pool: 35,000 SEI tokens
Minimum Account Size: $1,000
Minimum Trading Volume: $10,000
Total Winners: 10
Tier 2:
Prize Pool: 15,000 SEI tokens
Minimum Account Size: $250
Minimum Trading Volume: $2,500
Total Winners: 10
Competition Schedule
Round 1:
Start: Monday, September 30th @ 16:00 UTC
End: Saturday, October 5th @ 16:00 UTC
Round 2:
Start: Monday, October 7th @ 16:00 UTC
End: Saturday, October 12th @ 16:00 UTC
Round 3:
Start: Monday, October 14th @ 16:00 UTC
End: Saturday, October 19th @ 16:00 UTC
Good luck traders!
https://x.com/vertex_protocol/status/1839640351906373946
Trading Rewards & Incentives (SEI)
It’s been a busy month for Eddeh, with $ARB rewards ending and $SEI rewards season 2 launching, he’s been pulled from pillar to post in order to keep you updated!
TLDR: Trade on Vertex (Sei), earn SEI rewards.
Season 2 kicked off on Wednesday, September 25th 2024, meaning Sei users were able to begin earning SEI rewards simply by trading on Vertex Edge (Sei).
Season 2 is a continuation of Season 1, with another pool of SEI rewards totaling 3 MILLION $SEI tokens up for grabs (750K each week)!
$SEI Trading Rewards (Docs):
Based Traders
Introducing Based Traders, powered by Galxe. We’ve curated a multi-part series of quests to welcome Base users to Vertex – complete quests and earn a share of 100,000 VRTX tokens up for grabs!
Starting on September 24th, and running for several weeks, Base users will be able to complete quests and showcase their trading skills while climbing the leaderboard to earn more $VRTX.
https://x.com/vertex_protocol/status/1838549130488221925
August Product Updates
The engineering team has been heads down shipping some exciting upcoming features, so we will keep this section short and sweet this month!
Export History
One of the most requested features from you, the slightly less degenerate traders…You can now export your account history to a CSV file!
To access the feature, head to the portfolio history page and select export at the top right of the history table:
Exodus Wallet Integration
We recently integrated Exodus Wallet on Vertex! This integration embraces a more frictionless and secure user experience with the power of passkeys technology -- allowing users to create wallets without the necessity of recording and storing seed phrases.
Stay tuned for more education content on Exodus Wallet coming in October!
Learn More:
Data Dashboards of the Month
Token Terminal = https://tokenterminal.com/terminal/studio/dashboards/2cbc7c82-00fa-483e-8624-5aa208b6caf1
Stay tuned for more updates! Degenerate fun, nuggets of data insights, and some new product developments are on the horizon in the next edition of The Vertex Gazette.
Thanks for joining Eddeh hot off the press…
