Mantle, a burgeoning on-chain ecosystem built around Ethereum layer 2 (L2) Mantle Network and Ether liquid staking protocol Mantle LSP, is pleased to announce its strategic alliance with Vertex, a lightning fast orderbook decentralized exchange (DEX) for spot, derivatives trading and money markets. Aiming to create the deepest liquidity option for users on-chain, Mantle EcoFund has made an investment in Vertex. As part of the strategic alliance, Mantle Treasury will also facilitate a deployment of up to $50 million of treasury funds into the Vertex and Edge ecosystems through active market-making firms.
With 40+ spot and perpetual pairs alongside integrated money markets, an automated market maker (AMM) and a cross-margin system to unite them all, the integration of Vertex Edge on Mantle Network elevates Mantle Ecosystem’s first-class decentralized finance (DeFi) strategy.
The strategic alliance also welcomes the launch of Vertex Edge on Mantle, a synchronous orderbook liquidity layer between chains that unifies cross-chain liquidity between orderbooks. With Vertex Edge solving for orderbook fragmentation between disparate chains, cross-chain liquidity on Mantle now becomes an additive and positive sum game.
Rapid Liquidity Unlocks With Vertex’s Pioneering Features on Mantle
The strategic alliance between Vertex and Mantle offers a suite of advanced features catered to both novice and seasoned traders:
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Vertically Integrated Trading Ecosystem: Vertex merges spot, perpetual futures and money markets into a single, unified cross-margin system. Mantle users gain unbridled access to optimal capital efficiencies with Vertex, rivaling the operational speed and user experience of centralized exchanges (CEXs) while preserving self-custody and on-chain settlement principles.
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Blazing-Fast, High-Performance Orderbook: With impressive latency scores of 5–15 milliseconds akin to top-tier CEXs, Vertex leverages Mantle’s hyperscaled performance to ensure a seamless trading experience that is rapid, robust and scalable.
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Liquidity Without Borders via Vertex Edge: Recognizing the need to unify liquidity splinters between orderbooks across different chain instances, Vertex Edge is a synchronous orderbook liquidity layer that aggregates orderbook liquidity of all supported blockchains through the Vertex sequencer. This allows Mantle users instant access to deep liquidity across the lucrative perpetual markets sector.
Synergistic Strengths to Unleash the Collective Power of DeFi
Vertex’s rapid adoption on supported blockchains has proven its unique product-market fit, while demonstrating strong market validation and user trust. Set to accelerate rapid liquidity unlocks across Mantle Ecosystem, Vertex Edge derives deep synergies from Mantle’s strong technical fundamentals, proven DeFi strategies and evident mastery in galvanizing token economies.
Darius Tabatabai, Co-Founder of Vertex said, ”The Vertex team is excited to add another instance of Vertex Edge to Mantle Network. 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 opportunity to grow directly alongside Mantle’s impressive ecosystem and community, and in partnership with Mantle Governance, is uniquely compelling. Together, we look forward to expanding capital efficiencies and liquidity gains through Vertex and bringing new energy and growth to decentralized finance on Mantle.”
Edmund, DeFi Strategist at Mantle, expressed his enthusiasm about the collaboration, “The integration of Vertex with Mantle marks another momentous milestone for Mantle Ecosystem. 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. This partnership will not only enhance Mantle Network’s DeFi capabilities, but also attract a diverse range of users and revolutionize the way they trade.”
Opportunities Abound: Perps Trading Competition and Token Generation Event
Vertex is gearing up to introduce several dynamic initiatives, including an engaging trading competition in partnership with Perps.ai. The contest, slated to begin shortly after the platform’s debut on Mantle, will challenge traders to climb a comprehensive leaderboard based on on-chain performance metrics.
Additionally, 1 million MNT will also be offered as trading rewards to early users of Vertex on Mantle, of which rewards will be primarily distributed based on trading activity across perpetual and spot markets, with the remainder allocated to an upcoming trading competition.
Moreover, a special Token Generation Event (TGE) for Mantle users is on the horizon, promising exclusive benefits and opportunities for early participants, enhancing their engagement and investment in the platform. Both initiatives are open to all Mantle users, with more details to be unveiled soon.
For more live updates on Vertex’s perps trading competition and token generation event, stay tuned to Mantle and Vertex’s official X channels.
About Vertex
Vertex is a cross-margined decentralized exchange (DEX) protocol offering spot, perpetuals, and an integrated money market bundled into one vertically integrated application. Deployed on Mantle, Blast and Arbitrum, Vertex offers low-latency trading as well as effective cross-chain liquidity utilization via Vertex Edge. Recognising the latent market need for users to interact with DeFi in a more flexible way, Vertex was established by a team of traders and engineers with a strong track record of building in both TradFi and DeFi markets. Vertex aims to be at the forefront of market innovation by partnering with some of the most exciting names in blockchain to build a DeFi protocol that works for all users.
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About Mantle
Mantle Ecosystem comprises an Ethereum layer 2 (L2) — Mantle Network, a decentralized autonomous organization (DAO) — Mantle Governance, one of the largest on-chain treasuries — Mantle Treasury, and an Ether (ETH) liquid staking protocol — Mantle LSP: all built on Ethereum. Mantle token ($MNT) is the unified product and governance token of the ecosystem.
Mantle’s first core product is Mantle Network, an Ethereum L2. Mantle Network strives to be compatible with the Ethereum Virtual Machine (EVM). Mantle Network’s modular architecture separates transaction execution, data availability, and transaction finality into modules — which can be individually upgraded and adopt the latest innovations. Mantle Network is the first L2 to partner with ETH restaking protocol EigenLayer for the data availability module. By adopting a rollup architecture, Mantle Network is secured by Ethereum. As the world’s first DAO-spawned L2, Mantle Network is pioneering a vision for the mass adoption of token-governed technologies. The current mainnet version, Mantle Network Mainnet v2 Tectonic (Mantle v2 Tectonic), went live on March 15, 2024.
$MNT powers Mantle Network as its native gas token and ecosystem growth token, and serves as the governance token of Mantle Governance. All future Mantle products will likewise be initiated by the $MNT holder community through vote and powered by $MNT.
Mantle’s second core product is Mantle LSP, a permissionless and non-custodial ETH liquid staking protocol deployed on Ethereum L1 and governed by Mantle. Mantle LSP combines simple and modern design with robust risk management, and leverages extensive existing Mantle Ecosystem resources to deliver a highly rewarding experience and supercharges Mantle’s status as a yield powerhouse. Mantle Staked Ether ($mETH) serves as the value-accumulating receipt token of Mantle LSP.
To support the next-generation of innovators, builders, and developers, Mantle is growing its ecosystem via Mantle Grants Program and Mantle EcoFund, a catalyzed capital pool of $200M. Mantle’s Showcase Apps program lends additional support and publicity to ecosystem projects in categories such as real world assets (RWA).
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