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Today kicks off the start of the Vertex Protocol Liquidity Bootstrap Auction (LBA)! For those who don’t know, Vertex is a next generation spot and perpetuals DEX pushing the limits of DeFi. It offers some of the lowest fees in the industry: 0.02-0.04% taker fees, always FREE for makers. Vertex combines spot, perps, and money markets into a single trading platform with universal cross-margin accounts.

Vertex is currently a top 5 derivatives DEX by volume in DeFi.

VRTX is the protocol utility token that is launching via this week’s LBA. Here’s how you can participate: get onto the Vertex app at https://app.vertexprotocol.com/vrtx, connect your wallet, and deposit USDC.e.

Anyone can participate by pledging liquidity to the USDC.e pool, but only those who have traded on Vertex before can pledge their VRTX rewards to the VRTX pool. At the conclusion of the 7-day LBA, the two pools will be combined to arrive at an organic fair market price determined by a standard x*y=k AMM. Participants earn two sets of rewards: LP fees from the VRTX-USDC.e AMM and the VRTX trading rewards.

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To learn more about the LBA, visit the Vertex LBA docs:
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What is DeFi and why do we need it? let’s Face it🧐

DeFi, which stands for decentralized finance, is the general term for financial applications running on blockchain protocols. Some of the services it provides include lending, borrowing, trading, investing, which are not always available to everybody in the traditional finance sector. Therefore, we need DeFi since it gives everyone in the world open access to financial products that would normally have been out of reach for them

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