Arbitrum

Wednesday

Vertex Protocol

Billion

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<p class="has-drop-cap">Arbitrum-based decentralized crypto exchange (DEX) <a aria-label="Vertex Protocol announced (opens in a new tab)" href="https://blog.vertexprotocol.com/vertex-protocol-secures-strategic-investment-from-wintermute-ventures/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Vertex Protocol announced</a> it had nabbed a strategic investment from Wintermute Ventures – the venture capital (VC) arm of the namesake digital asset liquidity provider. Since it launched its platform in April 2023, Vertex experienced strong demand and is now among the top 20 global DEXs.</p> 
<h3 id="vertex-saw-over-1-billion-in-trading-volume-since-april-launch">Vertex Saw Over $1 Billion in Trading Volume Since April Launch&nbsp;</h3> 
<p>Vertex Protocol, a digital asset spot and derivatives trading decentralized exchange, said on Wednesday it had secured a strategic investment from Wintermute Ventures. The move is expected to reinforce the relationship between the two firms and provide Vertex with the necessary liquidity to continue developing its platform, the DEX noted in the press release.</p> 
<blockquote class="wp-block-quote"> 
 <p>“Wintermute is a leader in our industry, and we are excited to be working with them. Their expertise and reputation are a great compliment to the other partners we have lined up and show that there is still great demand for DEXs.”</p> <cite>– said Darius Tabatabai, co-founder of Vertex Protocol.</cite>
</blockquote> 
<p>The fundraising comes less than two months since Vertex Protocol launched on the <a href="https://tokenist.com/arbitrum-activity-surges-by-125-as-airdrop-speculation-continues/" rel="dofollow" class="deco-link">rapidly-growing Arbitrum</a> – a <a href="https://tokenist.com/explained-ethereums-scalability-problems-and-growing-backlash/" rel="dofollow" class="deco-link">layer 2 scaling solution for Ethereum</a>. Since then, Vertex has seen more than $1 billion in total trading volume, propelling it into the top 20 DEXs in the world.&nbsp;</p> 
<blockquote class="wp-block-quote"> 
 <p>“Vertex Protocol meets the market’s growing demand for noncustodial trading solutions while also possessing the efficiency of centralized exchanges.”</p> <cite>– Tim Wu, head of DeFi at Wintermute.</cite>
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<h3 id="trading-volume-on-dexs-surged-in-q1-2023">Trading Volume on DEXs Surged in Q1 2023</h3> 
<p>The launch of the Vertex Protocol and the subsequent Wintermute investment emphasizes the growing demand for decentralized digital asset exchanges. In March 2023, trading volumes on DEXs <a href="https://tokenist.com/dex-trading-volume-hit-131b-in-march-up-167-from-december-2022/" rel="dofollow" class="deco-link">exceeded $131 billion</a>, marking the third straight monthly increase, <a aria-label="according to DefilLama (opens in a new tab)" href="https://defillama.com/dexs" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">according to DefilLama</a>.&nbsp;</p> 
<p>In addition, a recent <a href="https://blog.uniswap.org/cefi-defi-uniswap-survey?ref=blog.vertexprotocol.com" target="_blank" aria-label="survey conducted by Uniswap revealed (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">survey conducted by Uniswap revealed</a> that almost 30% of investors who did not trade on decentralized platforms are more likely to start using them this year following a series of collapses in the industry in 2022. Also, “as Ethereum continues to scale and L2s see greater adoption,” DEXs could become increasingly economically accessible for price-sensitive traders, the research report found.</p> 
<p>Although trading volumes on decentralized exchanges slumped after March, it should not be surprising if such platforms reignite investor interest, particularly after the regulatory crackdown on the world’s largest centralized crypto exchanges (CEXs) earlier this month.&nbsp;</p> 
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<p><em><strong>Would decentralized exchanges become the mainstream option if regulators continue cracking down on CEXs? Let us know in the comments below.&nbsp;</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/arbitrum-dex-vertex-protocol-secures-wintermute-investment/">Arbitrum DEX Vertex Protocol Secures Wintermute Investment</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Arbitrum DEX Vertex Protocol Secures Wintermute Investment

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