Key Points: Vortex Protocol was acquired by SushiSwap for an undisclosed sum.
The on-chain exchange is a new product under DEX and will be built on Sei Network, which is a blockchain that uses Cosmos’ infrastructure.
Vortex Protocol is a decentralized derivatives exchange that has yet to be launched. In Q2 2023 Sei Network and Sushi’s newly purchased Vortex Protocol both will go live on the mainnet.
SushiSwap announced that Vortex Protocol had been acquired for an undisclosed amount. According to the Decrypt report, the on-chain exchange will fall under the SushiSwap branding and will be built on Sei Network which uses Cosmos’ infrastructure. Customers will have access to Vortex Protocol, a decentralized derivatives exchange that offers 10x margin trading on a variety of assets. The new on-chain trading platform, Sei Network, will go live in Q2 2023. It will offer customers 10x margin trading on a range of assets. Sei. Network, a blockchain using Cosmos’ technology. Jayendra Jog, cofounder of Sei Network, said that conversations about the acquisition began towards the end of the previous year.
“This acquisition is an direct partnership between the SEI and Vortex teams to help bring the first fully on-chain perpetual DEX via Sushi to market,” stated Jared Gray, CEO of SushiSwap.
Gray earlier announced the launch of Sushiswap’s decentralized perpetual forwards exchange on the. Sei. Sei. dYdX, a different Ethereum derivatives exchange, also indicated that it will be debuting on Cosmos in Q2. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuHaroldCoincu NewsTags: CosmosDeFiDexSei NetworksushiswapVortex Protocol