Mantle has formed a strategic alliance with a decentralised orderbook, Vertex, to create deep liquidity for users on-chain.
Mantle has partnered with Vertex, a decentralised exchange (DEX) known for its speed and support for spot trading, derivatives, and money markets to bolster Mantle’s decentralised finance (DeFi) offerings.
As part of the deal, Mantle Treasury will allocate up to $50 million to support both Vertex and the Edge ecosystem through active market-making activities.
A key highlight of the alliance is the launch of Vertex Edge on Mantle. This feature acts as a cross-chain liquidity layer, synchronising orderbook liquidity between different blockchains. This innovation addresses the issue of fragmented liquidity across various crypto ecosystems.
Darius Tabatabai, Co-Founder of Vertex said, ”The launch of Vertex Edge on Mantle represents a pivotal moment as Edge continues to expand to the wider crypto community. Vertex Edge introduces a groundbreaking cross-chain capability that solves for the limitations of fragmented liquidity, and a new era of seamless trading across multiple chains. “
The integration of Vertex brings several advantages, such as:
- Unified Trading Experience: Vertex combines spot trading, perpetual futures, and money markets into a single platform with cross-margin functionality. This offers users a streamlined experience comparable to centralised exchanges while maintaining self-custody of their assets.
- High-Performance Trading: Vertex boasts low latency scores of 5-15 milliseconds. This, combined with Mantle’s high performance, promises a fast, reliable, and scalable trading experience.
- Borderless Liquidity: Vertex Edge aggregates orderbook liquidity from all supported blockchains, providing Mantle users with immediate access to deep liquidity in the perpetual markets sector.
To incentivise early adoption, Mantle will offer 1 million MNT tokens as rewards to users who participate in Vertex on their platform. These rewards will be primarily distributed based on trading activity in both perpetual and spot markets.
Edmund, DeFi Strategist at Mantle, said, “Vertex’s prowess in amalgamating cross-chain orderbook liquidity while achieving low-latency, high-performance trading with cross-margins is a technological feat that will unlock deeper liquidities at scale for Mantle users. “
Furthermore, Mantle hinted at an upcoming special Token Generation Event (TGE) exclusively for its users. This event promises unique benefits and opportunities for early participants.
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