Risk Warning: This report is an internal analysis by Brillian Research and is not intended as investment advice. The cryptocurrency market is a high-risk investment and investment assets are subject to various possibilities of loss and return to zero, so please be aware of the risks!

The vertical-integrated Dex @vertex_protocol, built on Arbitrum, has shown impressive performance:

• 2b accumulated trading volume.

• 40m average daily trading volume in the past 2 weeks.

Let's discuss the features of this DEX that combines spot, perpetual, and money market.

• In Vertex, one can trade spot, go long or short assets (10x max), and earn passive income by providing liquidity.

• Users can conveniently monitor all their positions in a unified interface, enabling easy capital control and risk management.

• Vertex integrates a fully on-chain trading venue and risk engine at the protocol level, with an off-chain sequencer layered on top, creating a hybrid orderbook-AMM DEX.

• This design enables orders to be matched with ultra-low latency (10-30 milliseconds), while automatically obtaining the best available price from limit orders and LP positions, effectively reducing transaction costs for users.

• Universal cross margin allows users' portfolio to serve as collateral for multiple open positions, which can: 🌠Reduced margin requirements 🌠Improved risk management 🌠Increased capital flexibility

• One can create sub-accounts to isolate margin.

• Vertex offers competitive trading fees comparable to CEXs, providing fees as low as 1 bps for price takers, and zero fees for price makers.

• The low transaction fees play a vital role in attracting a high volume of transactions to Vertex.

• To attract more users, the project will allocate 9% of $VRTX as airdrop rewards during its Initial Token Phase.

• In the Ongoing Emissions Phase, 37% of the token supply will be distributed as rewards.

  More reward details: https://vertex-protocol.gitbook.io/docs/community-token-and-dao/trade-and-earn-program

• $VRTX is the governance token that can be used to pay for fees and purchase assets.

• By staking $VRTX, users can receive the transferable liquid staking token $xVRTX. Holders of $xVRTX can participate in governance and share the protocol revenues.

• To obtain the protocol's non-transferable voting token $voTRTX, users need to pledge $xVRTX or deposit $xVRTX into the insurance fund. $voVRTX increases voting power and enhances holders' share of fees and emissions.

In conclusion, Vertex offers lightning-fast trading, universal cross-margining, and a customizable user-friendly interface. Vertex merges the advantages of DEX and CEX, providing self-custody and fast trading. It is driving DEX towards higher development.

• Vertex Official Website:

https://vertexprotocol.com/

• Vertex Official Twitter: @vertex_protocol

  https://twitter.com/vertex_protocol

Thanks to Vertex for the images data of Covering Page, Orderbook AMM, and Trading Fees from its official website and Twitter. Other data information above are also from the official website and the Twitter.

❗Risk Warning: This report is an internal analysis by Brillian Research and is not intended as investment advice. The cryptocurrency market is a high-risk investment and investment assets are subject to various possibilities of loss and return to zero, so please be aware of the risks!

Risk Warning: This report is an internal analysis by Brillian Research and is not intended as investment advice. The cryptocurrency market is a high-risk investment and investment assets are subject to various possibilities of loss and return to zero, so please be aware of the risks!

The vertical-integrated Dex @vertex_protocol, built on Arbitrum, has shown impressive performance:

• 2b accumulated trading volume.

• 40m average daily trading volume in the past 2 weeks.

Let's discuss the features of this DEX that combines spot, perpetual, and money market.

• In Vertex, one can trade spot, go long or short assets (10x max), and earn passive income by providing liquidity.

• Users can conveniently monitor all their positions in a unified interface, enabling easy capital control and risk management.

• Vertex integrates a fully on-chain trading venue and risk engine at the protocol level, with an off-chain sequencer layered on top, creating a hybrid orderbook-AMM DEX.

• This design enables orders to be matched with ultra-low latency (10-30 milliseconds), while automatically obtaining the best available price from limit orders and LP positions, effectively reducing transaction costs for users.

• Universal cross margin allows users' portfolio to serve as collateral for multiple open positions, which can: 🌠Reduced margin requirements 🌠Improved risk management 🌠Increased capital flexibility

• One can create sub-accounts to isolate margin.

• Vertex offers competitive trading fees comparable to CEXs, providing fees as low as 1 bps for price takers, and zero fees for price makers.

• The low transaction fees play a vital role in attracting a high volume of transactions to Vertex.

• To attract more users, the project will allocate 9% of $VRTX as airdrop rewards during its Initial Token Phase.

• In the Ongoing Emissions Phase, 37% of the token supply will be distributed as rewards.

  More reward details: https://vertex-protocol.gitbook.io/docs/community-token-and-dao/trade-and-earn-program

• $VRTX is the governance token that can be used to pay for fees and purchase assets.

• By staking $VRTX, users can receive the transferable liquid staking token $xVRTX. Holders of $xVRTX can participate in governance and share the protocol revenues.

• To obtain the protocol's non-transferable voting token $voTRTX, users need to pledge $xVRTX or deposit $xVRTX into the insurance fund. $voVRTX increases voting power and enhances holders' share of fees and emissions.

In conclusion, Vertex offers lightning-fast trading, universal cross-margining, and a customizable user-friendly interface. Vertex merges the advantages of DEX and CEX, providing self-custody and fast trading. It is driving DEX towards higher development.

• Vertex Official Website:

https://vertexprotocol.com/

• Vertex Official Twitter: @vertex_protocol

  https://twitter.com/vertex_protocol

Thanks to Vertex for the images data of Covering Page, Orderbook AMM, and Trading Fees from its official website and Twitter. Other data information above are also from the official website and the Twitter.

❗Risk Warning: This report is an internal analysis by Brillian Research and is not intended as investment advice. The cryptocurrency market is a high-risk investment and investment assets are subject to various possibilities of loss and return to zero, so please be aware of the risks!