Vertex Protocol Completes Final Shutdown Phase, Distributes All User Funds
Vertex Protocol Completes Final Shutdown Phase, Distributes All User Funds
🔚 Vertex's Last Dance
Vertex Protocol has completed Phase 4 of its shutdown sequence, with all user funds successfully settled and distributed to connected wallets. The shutdown process occurred over multiple phases:
- Phase 2 (July 10): Oracle prices frozen, reduce-only orders
- Phase 3 (July 14): Force-closure of positions, repay-only borrows
- Phase 4 (July 16-17): Final settlement and fund distribution
Trading, deposits, and withdrawals are now permanently disabled. Trade history will remain accessible for four weeks.
The team hints at future developments on Ink platform.
Vertex Shutdown: Phase 3 Begins in 48 Hours. As part of the Vertex Shutdown Sequence, Phase 3 will begin on Monday, July 14 at 2PM UTC. Key changes during this stage: • All open perp positions (excluding BTC-PERP) will be force-closed. • Borrows positions repay-only.
Vertex Shutdown: Phase 4 Begins in 24 Hours. As part of the Vertex Shutdown Sequence, Phase 4 will begin on Wednesday, July 16 at 2PM UTC. Key changes during this stage: • All outstanding borrow positions will be force-closed via collateral swap (5% fee applies). • Funds
1/ Vertex Edge Shutdown Update: Phase 2 As of Today @ 2PM UTC, Phase 2 of the Vertex Shutdown Sequence has begun. Please read carefully to understand what’s changing and what actions you can take.
1/ Vertex Shutdown Update: BTC-PERP Timeline Adjustment Due to large open interest in BTC-PERP, the BTC perpetual market will now close simultaneously with borrow / lend markets at the start of Phase 4 on Wednesday, July 16th at 14:00 UTC. This gives traders extra time to
1/ As of Today @ 2PM UTC, Phase 4 of the Vertex Edge Shutdown Sequence has officially begun. This is the final phase of the shutdown. From this point forward, all trading, deposits, and withdrawals will be disabled. Please read carefully.
Vertex Shutdown: Phase 2 Begins in 24 Hours. As part of the Vertex Shutdown Sequence, Phase 2 will begin on Thursday, July 10 at 2PM UTC. Key changes during this stage: • Oracle prices will be frozen • Only reduce-only orders permitted • New positions, borrows, and deposits
1/ As of Today @ 2PM UTC, we have officially entered Phase 3 of the Vertex Edge Shutdown Sequence. This phase initiates automatic closure of open positions (excluding BTC-PERP) and repayment-only of outstanding borrows. Please read carefully to understand what happens during
As part of Phase 4 of the Vertex Shutdown Sequence, all user funds have now been fully settled and distributed to connected wallets. Thank you to everyone who traded and believed in Vertex - it’s been an incredible journey. Stay tuned for final shutdown updates and what's
1/ As of Today @ 2PM UTC, Phase 4 of the Vertex Edge Shutdown Sequence has officially begun. This is the final phase of the shutdown. From this point forward, all trading, deposits, and withdrawals will be disabled. Please read carefully.
Sei Network Extends Season 7 Trading Rewards
Sei Network has announced an extension to their Season 7 trading rewards program, focusing exclusively on market makers. The extension begins this Wednesday with 700,000 SEI tokens allocated as rewards. Key points: - Rewards limited to market makers only - Available exclusively on Vertex protocol - Previous season offered 2.1M SEI tokens for both traders and market makers Market makers interested in participating can access the program through the Vertex protocol on Sei Network.
Cross-Chain Liquidity Panel Discussion Rescheduled
A panel discussion on cross-chain liquidity in crypto trading has been rescheduled to **March 26th at 12PM EST**. Featured speakers include representatives from: - Inception - Swaps.io - Flow Blockchain - Arcana Network The discussion will explore how cross-chain liquidity capabilities are transforming the cryptocurrency trading landscape. *Set your reminder to join this insightful conversation about the future of cross-chain trading.*