Vertex Protocol price

VRTX

#803

VRTX is the fungible protocol token of Vertex Protocol – a transferable representation of attributed utility functions specified in Vertex’s protocol code.

The utility of VRTX within the scope of the DEX includes:

Staking VRTX to contribute to the safety of the Vertex ecosystem.

Rewarding variable levels of contributions and commitments to the protocol over the long-term – designed to incentivize contributors who either transact or trade on the protocol, perform off-chain marketing, and/or provide referral activities.

Staking VRTX generates a user score, known as voVRTX, that plays a significant role in incentivizing security and long-term commitment to the protocol. The amount generated increases proportionally to the longer duration a user's account consistently stakes VRTX.

voVRTX boosting maintains several primary goals:

Encourage long-term VRTX staking. Increase active user participation in the protocol. Benefit Vertex contributors with long-term perspectives.

Users displaying long-term commitments to the protocol through various contributions and efforts to participate in the ecosystem (defined by their voVRTX score) are eligible to receive rewards – derived from a percentage of the protocol’s revenue.

The current circulating supply of VRTX is 160 million VRTX.

The total supply of VRTX is capped at 1 billion VRTX. The issuance of VRTX follows the full 6+ years emissions schedule prescribed in the official Vertex documentation section here.

Vertex Protocol was co-founded by Darius Tabatabai and Alwin Peng. The dynamic duo met in 2022 amidst the widespread market volatility that swept the industry throughout the 2022 Summer.

Darius and Alwin, hailing from notably different backgrounds and with ~20 years in age difference between them, bonded over their shared interests in problem-solving and building new things after being introduced by a mutual colleague.

Around the same time, the demand for DEXs fusing the performance and capital efficiency of CEXs with the ethos of self-custody enshrined within DeFi became progressively stronger, ultimately leading to the inception of Vertex.

Darius’ background is an experienced trader with a history of working in FX, Commodities, and Crypto. Darius’ previous roles include the Head of Trading at JST Capital, Head of Trading at CrossTower, Global Head of Metals Trading at Merrill Lynch, and the Global Head of Precious Metals Trading at Credit Suisse.

Darius holds a BSc in Government & Economics from the London School of Economics alongside a Masters of Science degree in Computer Science from the University of York.

Alwin was the youngest employee ever hired by Jump Trading, entering the DeFi industry soon after graduating from high school.

He quickly proved to be a talented and prolific developer, initially building RandomEarth in 2022, a popular NFT marketplace on Terra, before transitioning to become a co-founder with Darius later that summer – invoking the Vertex saga.

The duo are inseparable today.

VRTX is available for trading on several centralized exchanges, primarily spot markets quoted in stablecoins.

Current exchange venues where VRTX can be bought / sold include:

• Kucoin (https://coinmarketcap.com/exchanges/kucoin/)
• Bybit (https://coinmarketcap.com/exchanges/bybit/)
• Bitget (https://coinmarketcap.com/exchanges/bitget/)
• Gate Startup (https://coinmarketcap.com/exchanges/gate-io/)
• HTX (https://coinmarketcap.com/exchanges/htx/)
• Vertex (https://app.vertexprotocol.com/vrtx)