Decentralized Spot, Perpetuals, & Money Markets — Unified. Fast. Transparent.
Vertex Protocol is a next‑generation decentralized exchange (DEX) that launched in April 2023 on the Arbitrum Layer‑2 network. It integrates spot trading, perpetual futures, and money markets into a single unified, self‑custodial platform. Vertex combines a central limit order book (CLOB) with an automated market maker (AMM) to deliver trading that is fast, capital‑efficient, and transparent. :contentReference[oaicite:0]{index=0}
One of its standout features is **unified cross‑margin**: traders can share collateral across multiple markets (spot, perpetuals, lending/borrowing), which enhances capital efficiency and reduces the cost of maintaining multiple isolated positions. :contentReference[oaicite:1]{index=1}
Vertex employs a hybrid model: an off‑chain order matching engine (fast central limit order book) layered on top of on‑chain AMMs for liquidity. This combines the benefits of both architectures — tight spreads, efficient pricing, and robustness in volatility. :contentReference[oaicite:2]{index=2}
Instead of isolating collateral per position, cross‑margining allows capital to be used across markets. This gives users more flexibility and lower margin requirements. :contentReference[oaicite:3]{index=3}
Platform supports spot trading (buy/sell assets), perpetual futures contracts (leverage, hedging), and lending/borrowing markets — all accessible from a single interface. :contentReference[oaicite:4]{index=4}
Vertex Edge is their synchronous orderbook mechanism that aggregates liquidity across multiple chains. Orders from different chains get matched through a unified layer while settlement still occurs on originating chains. This helps reduce fragmentation of liquidity. :contentReference[oaicite:5]{index=5}
Trade execution times are very fast — often 5‑30 milliseconds for order matching. Fee model is competitive: maker orders often have zero fees, taker orders relatively low. :contentReference[oaicite:6]{index=6}
Vertex retains the non‑custodial nature of DeFi. Settlement and risk engines are on‑chain. Users keep control of their private keys. Full auditability via smart contracts. :contentReference[oaicite:7]{index=7}
Here is a simplified flow of how you interact with Vertex Protocol and its core systems:
As of mid‑2025, Vertex Protocol has officially initiated a well‑defined shutdown process. :contentReference[oaicite:12]{index=12}
On July 8, 2025, Vertex was acquired by the Ink Foundation, planning migration of its core infrastructure and users into the Ink Layer‑2 ecosystem. :contentReference[oaicite:13]{index=13}
The protocol executed a multi‑phase shutdown, ending all trading operations by Phase 4, which officially concluded on August 14, 2025 at 14:00 UTC. After this, the older Vertex functionalities were sunset, and the VRTX token holders were allocated INK token rewards according to snapshot protocols. :contentReference[oaicite:14]{index=14}
If you were a user or holder, ensure you follow the official Vertex & Ink notifications to migrate balances, withdraw assets, or claim any entitlements. :contentReference[oaicite:15]{index=15}
VRTX was the native token of Vertex Protocol. After the shutdown phase, VRTX holders were able to claim a portion of INK tokens under the migration plan. The details were communicated by the Vertex & Ink teams via snapshot mechanisms. :contentReference[oaicite:16]{index=16}
No. As of Phase 4 completion on August 14, 2025, Vertex has ceased operations on its prior infrastructure. Users should refer to official Ink Foundation announcements for the new products and migration. :contentReference[oaicite:17]{index=17}
Vertex Edge was the synchronous orderbook liquidity layer introduced by Vertex to aggregate liquidity across multiple chains while still settling trades on their respective base layers. It enhanced liquidity and depth, reducing fragmentation. :contentReference[oaicite:18]{index=18}
Vertex used a maker‑taker fee model. Maker orders, which add liquidity to the order book, had 0% fees. Taker orders (those that remove liquidity) were charged around 0.02%. :contentReference[oaicite:19]{index=19}
Cross‑margin allows traders to share collateral across multiple open positions, rather than needing separate margin per position. It helps in better capital usage but also comes with risk: losses in one position can affect others. Vertex supported unified cross‑margin across spot, perpetuals, and money markets. :contentReference[oaicite:20]{index=20}
Vertex was primarily deployed on Arbitrum. Through Vertex Edge, it aimed to support multiple chains by linking liquidity across them. However with the shutdown, users are being guided toward the new Ink ecosystem. :contentReference[oaicite:21]{index=21}
The migration instructions were provided by the official Vertex and Ink Foundation channels. Typically this involved claiming tokens, moving assets, and following snapshot instructions. Users should check the official documentation or blog posts from Vertex/Ink for precise steps. :contentReference[oaicite:22]{index=22}