State of Vertex Q3 2024

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2024-12-17 14:34:36

SEI-0,99%

Vertex expanded its operations in Q3 with new deployments on Sei and Base, bringing its multichain strategy into focus. The Sei deployment quickly gained traction, contributing 14% of quarterly trading volume and demonstrating the potential for growth in untapped markets.
Vertex’s deployment on Mantle experienced significant growth, with average daily volume increasing 599% QoQ to $54.7 million, accounting for 15% of total trading volume in Q3.
BTC-PERP achieved the highest daily average open interest in Q3 at $34.7 million, growing 11% QoQ and surpassing ETH-PERP, which saw a sharp decline to $28.9 million following a market deleveraging event.
Onchain activity was driven by power users, with daily average trades increasing 23% to 230,900 while daily active addresses fell 37% to 1,100. This indicates a growing concentration of trading activity among high-volume participants.
Vertex launched the VRTX Vertical Program in September, introducing significant changes to tokenomics, such as reducing reward emissions and reallocating rewards to liquidity providers, signaling a focus on sustainable ecosystem development.
Leaderboard Launch (July 26) - Vertex launched a leaderboard that tracks the most profitable traders on Vertex.
New Referral Staking Tiers (July) - Introduced 5 different commission tiers for VRTX stakers that refer new traders to use Vertex.
Multiple Accounts Support Added (August 7) - This feature allows users to manage multiple accounts from the same wallet address on Vertex.
Social Indicators Added (August 13) - In collaboration with The Tie, Vertex integrated social indicators such as tweets, newsfeeds, and sentiment tracking directly into the Vertex trading application.
Fast Withdrawals Introduced (August 29) - New feature that allows users to withdraw assets quicker.

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