Vertex Protocol, one of the most innovative and fast-growing DEXs in Web3, is now using Axelar network and Squid to power cross-chain collateral deposits. The integration was announced today via Crypto Daily and other news outlets.
Vertex has grown rapidly to become the second-largest (and, on some days the largest) derivatives DEX by volume – by a wide margin.
“With this integration, the top two derivatives DEXs by volume and the top two spot DEXs by volume are all using Axelar network for cross-chain connections," said Georgios Vlachos, Director of Axelar Foundation. "The level of adoption shows the utility of Axelar network for DEXs that are building seamless UX for mass adoption."
In each category, DEXs going cross-chain with Axelar network handle more than half the total 24h market volume on any given day.
“Cross-chain deposits simplify the multi-step bridging process into one transaction for Vertex Protocol users,” said Vertex Protocol co-founder Alwin Peng. "Axelar’s technology is helping us to improve what we already believe is a best-in-class experience to make it even more versatile and adaptive.”
Axelar is the leading Web3 interoperability platform, connecting over 50 blockchains via a secure, programmable network – internet infrastructure for the world’s next super app.