The Peak is a monthly newsletter for the Vertex community. Join us as we unpack the past month’s highlights for the community; trading stats; and new features and markets.
September was so busy at Vertex, we almost forgot to publish this month’s edition of The Peak… But here we are, and with more updates than ever.
There’s never a slow moment at Vertex. We have a ton of features in the works and even more lined up. Not to mention the VRTX token launch in Q4 & our STIP application for ARB incentives 👀. TLDR; we’ll be keeping this edition brief so we can get back to building.
What we’ll be covering in the September issue (TLDR);
- Big releases: Markets page, margin manager, and Trade Drop Down
- Markets: $8b+ in vol, 6k+ users, new perps DYDX-PERP and CRV-PERP
- New features: portfolio subpages, market details, confirmations
- Partnerships & Integrations: Artemis Dashboard and Vertex Guild
- Incentives: Trade & earn epoch #6, Alpha Insiders campaign and Arbitrum Adventure 2 (coming soon 👀)
- Community/Content: Fee comparison thread, Vertex vs. DYDX fees and more of our favorite content produced by the community
- Looking ahead: what you’ve been waiting for...
⛰️ Community Call to Action: Vertex’s STIP Proposal ⛰️
Before we dive into the monthly recap, we want to take a moment to share that Vertex has submitted a STIP Proposal to Arbitrum DAO’s for funding trading incentives on Vertex alongside the upcoming Fusion Pools with the Elixir integration.
The Snapshot votes for the STIP applicants are currently live, voting will run for 1 week and concludes on October 12th, 2023.
If approved, the initiative unlocks immense potential for Vertex and benefits the broader Arbitrum ecosystem. For more details on the Vertex proposal, make sure to check out the full details in the governance forum post.
With 23 markets available on Vertex and more coming, we thought it was time to display these all in one place. The Markets Page is your go-to destination for viewing all of Vertex’s Perp, Spot, and Borrow/Lend markets. You can view the active price and volume stats, as well as click on ‘more details’ to learn about the market’s margin parameters and more.
🧮 Margin Manager
The Margin Manager is a new tool that we released to help traders make the most out of their Vertex experience and unified cross-margin design. The Margin Manager displays everything going on within your account – balances, perps, pools, and spreads (NEW). It shows you how each aspect impacts your margin, whether it’s contributing to your collateral or adding to risk. The Margin Manager also helps illustrate the state of your account so you can manage your exposure quickly in dynamic market conditions. With so many opportunities on Vertex, the manager is your one-stop shop for risk management.
🔍Trade Drop Down
The launch of the Trade Drop Down makes navigating to your favourite markets even easier. Simply hover on the ‘Trade’ button in the top nav bar and a drop-down will appear displaying all the Perp and Spot markets. Not only that, but in the drop-down you can also search, favorite, and sort markets. Try it out for yourself!
At the time of writing this (Oct 5th), Vertex has officially;
- Done over $8b+ in aggregate trading volume.
- Surpassed 6k+ users.
Find all Vertex Market stats for perp, spot, money markets, fees, users + more on our Stats Dashboard
At Vertex, we love the voooooooolume. And volume loves gas. So much so that for the past month, Vertex was the top 7 protocol by gas consumption and 2nd DEX.
September was a slower month for new markets at Vertex. Primarily this is because we have shifted some focus away from new markets and instead are working towards something very special.
Hint; it’s a new token, rhymes with flex.
That said, we added 2 new perp markets during September:
What markets would you like to see next? Let us know in Discord.
In addition to Vertex’s speed and low fees, the protocol’s ability to introduce new spot & perp markets helps establish Vertex as a go-to choice for traders looking for opportunities not supported elsewhere.
📃 Portfolio Subpages
It feels weird not having the new Portfolio Subpages in our 3 new Big Releases section, since they are definitely NOT small. The portfolio subpage update is a follow up to the New Portfolio Overview we shared in the last newsletter. You can now find charting on the Balances, Perps, and Pools subpages. These aren’t your normal charts. You can choose to chart your historical balance vs. APR, the interest you have earned or paid, and any perp funding details. Make sure to check the new subpages out!
👓Market Navigation (Trading Pages)
To navigate between markets while on trading pages, the new Market Navigation drop-down displays the same features and info as the Trade Drop-Down mentioned above – making it easier to access markets and information faster!
Not the most exciting of updates, but we have improved the action dialog confirmations so when you go to deposit, borrow, or anything within a pop-up you will experience a better confirmation state. At Vertex, our goal is to make trading and account management easy. This starts with communication!
🔢Market Details (Trading Pages)
We’ve added a market details pop-up for every market on Vertex:
- Borrow/Lend Markets.
In the pop-up you can find details such as margin specifications, oracle providers, funding intervals, and a description of the token. Access the pop-up by clicking on Market Details in the far right of thee market stats bar (where price etc. is located) or in the bottom-left of the trading page under your account details.
Note – this is the same as the market details pop-up on the Markets Page, so you can access it the same way as alluded to above.
Partnerships & Integrations
🏰 Vertex Guild
We are pleased to announce the launch of Vertex Guild!
With Guild, Volumooors can explore new ways to ingratiate themselves with the Vertex community, by unlocking exclusive role-based and on-chain achievements, or simply by participating in limited-time events!
Get started on Guild and show off your roles to the rest of the Vertex community!
📈 Artemis Integration
Allowing users to view & compare data such as volume, TVL & more across various protocols!
💸 Trade & Earn
The 6th Epoch of the Vertex Trade & Earn Rewards program started. With 12.5 million $VRTX up for grabs over the next 28 days, traders can compete for their share of rewards by trading on Vertex.
Every fee = $VRTX rewards!
⚡ Alpha Insiders Summer Campaign 2023
Our frens at Alpha Insiders have invited Volumooors to participate in the Alpha Insiders Summer Campaign for 2023! Join us alongside Linea, Orbiter Finance, Squid and Coinvise for a series of missions to close off a scorching hot summer.
Holders of the AISC 2023 Mystery Box NFT will be rewarded with $100 of fee rebates 👀
🗺️ Arbitrum Adventure 2
The Arbinauts among us will be aware of the return of Arbitrum Odyssey, but have you got Arbitrum Adventure on your radar? Embark on a galactic Arbitrum-based adventure spanning three weeks, with a reward pool of over $50,000!
The campaign will run from the 9th to the 30th of October. To sign up visit: Galxe
💡Spotlight: Vertex’s STIP Proposal - Call to the Vertex Community!
As mentioned earlier, we've recently submitted a STIP Proposal to the Arbitrum DAO for funding. The proposal is designed to attract more liquidity & traders to Vertex & Arbitrum, ultimately accelerating its growth trajectory via short-term incentives in the form of ARB tokens.
Please provide feedback on the proposal and vote 👉LINK
- Objectives: The primary goal is to establish Vertex as the class-leading orderbook DEX in DeFi by both volumes and users.
- Trading Rewards: Our proposal introduces rewards on trading fees and incentives for Elixir’s Fusion Pools along with the removal of sequencer fees for a three-month period to supercharge trading activity.
- Grant Size: The proposal seeks funding in the range of 1.8 million to 3 million ARB tokens per epoch, contingent on specific conditions such as increased trading volume and TVL growth.
- Elixir Partnership: We're aiming to incentivize liquidity providers (LPs) and traders on Vertex, creating a thriving trading environment.
Why It Matters:
The grant proposal aligns perfectly with Arbitrum's vision to enhance liquidity and trading within its ecosystem, positioning us as the go-to choice for traders. Since trading activity composes a significant percentage of on-chain activity on Arbitrum, incentives will accelerate Vertex’s growth trajectory, the Vertex contracts will consume more gas as a percentage of the fee market, and new users will look to Arbitrum as the hub of on-chain trading in DeFi. Better liquidity, more traders and users, and more TVL for Arbitrum.
Community members have been in full content creation mode throughout August, ranging from research to education. There’s a Tweet thread for everyone!
Welcome to the Vertrix (@synedclover)
Comparing fee structures across the Derivatives landscape (@TheMetaverseGuy)
Fee comparison with style! (@StylusTrader)
Diving deep into Vertex (@gentlemanzhao)
We heard the community has started to meme “what will come first, take profit and stop loss or the VRTX token…” Well, good news; they’re both coming up very soon.
TP and SL triggers are in the works and we hope to release them over the next few weeks. The VRTX token is scheduled to launch in Novemeber. In addition to this, we have a lot of exciting features coming your way.
If you have any questions about what was shared today, Vertex in general, or want to get more involved in our journey, then we invite you to:
That’s all for now. Time to get back to building.
~ Vertex Team