Key Points:Sushi plans launch a decentralized derivatives market in Q2 this year using the Sei blockchain based upon Cosmos.
A derivatives platform called Vortex will support on-chain, peer-to-peer derivatives trading.
Jared Grey, the CEO of the network, stated that cross-chain development between Ethereum and the Sei network was one of the key goals.
Developer Sushi plans launch Vortex, a decentralized derivatives trading platform on the Sei Network of the Cosmos environment. The exchange is expected go live in Q2 2023, which coincides with the launch the Sei Network of the Cosmos ecosystem. The exchange will be fully on-chain and allow peer-to-peer order matching as well as cross-collateral usage.
“Our goal is not to provide optimal pricing for users, but to increase the swap fees for liquidity providers.” The aggregator will combine liquidity from different exchanges on a chain to find the best route for a user’s swap.
According to the statement, Sushi is one of the largest decentralized exchanges and has tended to prioritize spot trading over other protocols in the derivatives space. Jared Grey, the CEO of this network, stated that the key component of his ambition is to grow cross-chain Ethereum to Sei. Sushi can increase its product offerings by switching to Sei.
“Ultimately, the goal of the Sushi ecosystem is to expand horizontal product offerings holistically, providing value for all stakeholders, with product launches such as Vortex on Sei. Sei is the best infrastructure for this product launch, with time to finality. We also found a cross-chain thesis that resonated with us.
Jared Gray stated. Sushi was one of the first DeFi protocols to announce a Cosmos extension. Sushi was the first DeFi protocol to declare a Cosmos extension. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuFoxyCoincu NewsTags: # Cryptocurrencies#MarketsBlockchaincryptoJared GreySei NetworkSUSHIsushiswap